It's the fact that they are now not pursuing the front line indication in an active clinical trial. That's the majority of the difference in the price, the rest being a general lack of confidence that is weighing on the stock price. The question is if and when Ariad reengages the pursuit of front line indication in cml or another form of label expansion will they be successful. If you believe this answer to be yes then it's buy, if you think no then it's not a buy.
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