I think Ariad has "graduated" from giving warrants to vultures like BVF or Orbimed or Deerfield. I don't think there is any way Ariad (barring mega-implosion) does another PIPE-type of financing.
If they do another financing/secondary I would hope they do it with someone they already do not have a banking relationship with, eg., Goldman Sachs. I'd like it if they had another bank pitching the deal and selling the idea to a whole new slew of clientele (not that there already isn't tons of overlap between the firms). I just think a Goldman research pump, after the deal, would goose the stock.
Personally, I wish I would wake up and see Lilly or someone trying to bid $25 for the whole company. That would make me happier that a pig in, you know what.