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8-K - FORM 8-K - ARIAD PHARMACEUTICALS INC | b89532e8vk.htm |
EX-5.1 - EX-5.1 - ARIAD PHARMACEUTICALS INC | b89532exv5w1.htm |
EX-1.1 - EX-1.1 - ARIAD PHARMACEUTICALS INC | b89532exv1w1.htm |
Exhibit 99.1
[ARIAD LOGO]
News Release
ARIAD ANNOUNCES PRICING OF PUBLIC OFFERING
OF COMMON STOCK
OF COMMON STOCK
Financing to support filings for regulatory approval and global commercialization of ponatinib in
patients with resistant or intolerant CML and additional clinical development of its
investigational targeted cancer medicines
patients with resistant or intolerant CML and additional clinical development of its
investigational targeted cancer medicines
Cambridge, MA, December 15, 2011 ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced the
pricing of an underwritten public offering of 21,500,000 shares of its common stock, at a price to
the public of $10.42 per share. The offering is expected to close on or about December 20, 2011,
subject to customary closing conditions. In addition, ARIAD has granted the underwriters a 30-day
option to purchase up to 3,225,000 additional shares of common stock to cover over-allotments, if
any.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Jefferies & Company, Inc. are acting as
joint book-running managers and underwriters for the offering. BMO Capital Markets Corp., Leerink
Swann LLC, Oppenheimer & Co. Inc., and Rodman & Renshaw, LLC are acting as co-managers for the
offering.
This funding is expected to enable ARIAD to continue treatment and follow-up of patients in the
pivotal PACE trial of its investigational pan BCR-ABL inhibitor, ponatinib, in patients with
chronic myeloid leukemia (CML) or Philadelphia-positive acute lymphoblastic leukemia (Ph+ALL) and,
subject to further patient follow-up and data analysis in this trial, to file for marketing
approval of ponatinib in the United States and Europe in the middle of 2012. ARIAD anticipates
that this funding will also enable it to continue preparations for commercial launch of ponatinib
in the United States and Europe and, if approved, to sell, market and distribute ponatinib in these
and other markets on its own, allowing ARIAD to retain the substantial potential commercial value
of ponatinib. ARIAD also expects that this funding will allow it to conduct additional clinical
trials of ponatinib, including a Phase 3 clinical trial in newly diagnosed CML patients and
clinical trials of ponatinib in Japan, as well as to complete the Phase 1/2 trial of AP26113, its
investigational dual inhibitor of anaplastic lymphoma kinase and epidermal growth factor receptor,
and, depending on the results of this trial, conduct a pivotal trial of AP26113 in patients with
non-small cell lung cancer and to fund additional trials in the United States, Europe and Asia.
The anticipated net proceeds from this offering, together with existing cash and cash equivalents
and the anticipated proceeds from the exercise of outstanding warrants, are expected to be
sufficient to fund ARIADs operations for at least the next two years.
A shelf registration statement on Form S-3 relating to the public offering of the shares of
common stock described above was filed with the Securities and Exchange Commission (the SEC) and
is effective. A preliminary prospectus supplement relating to the offering has been filed with the
SEC, and a final prospectus supplement relating to the offering will be filed with the SEC. Copies
of the final prospectus supplement and accompanying prospectus, when available, may be obtained
from the offices of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204), the offices of Cowen and
Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717
(Telephone number 631-274-2806), or the offices of Jefferies & Company, Inc., Equity Syndicate
Prospectus Department, 520 Madison Avenue, New York, NY 10022 (Telephone number 877-547-6340).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy
these securities, nor shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state or other jurisdiction.
About ARIAD
ARIAD Pharmaceuticals, Inc. is an emerging global oncology company focused on the discovery,
development and commercialization of medicines to transform the lives of cancer patients. ARIADs
approach to structure-based drug design has led to three internally discovered, molecularly
targeted product candidates for drug-resistant and difficult-to-treat cancers, including certain
forms of chronic myeloid leukemia, soft tissue and bone sarcomas and non-small cell lung cancer.
Forward-looking Statements
Certain of the statements made in this press release are forward looking, such as those, among
others, relating to our expectations regarding the expected closing date of the public offering,
the use of proceeds, our drug development and commercialization plans and the sufficiency of funds
for at least the next two years. Actual results or developments may differ materially from those
projected or implied in these forward looking statements. Factors that may cause such a difference
include, without limitation, risks and uncertainties related to whether or not we will be able to
raise capital through the sale of shares of common stock, market and other conditions, the
satisfaction of customary closing conditions related to the public offering and the impact of
general economic, industry or political conditions in the United States or internationally. There
can be no assurance that we will be able to complete the public offering on the anticipated terms,
or at all. You should not place undue reliance on these forward looking statements, which apply
only as of the date of this press release. Additional risks and uncertainties relating to the
offering, ARIAD and our business can be found under the heading Risk Factors in the filings that
we periodically make with the SEC and in the preliminary prospectus supplement related to the
offering filed with the SEC on the date hereof. In addition, the forward-looking statements
included in this press release represent our views as of the date of this press release. We
anticipate that subsequent events and developments will cause our views to change. However, while
we may elect to update these forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so. These forward-looking statements should not be
relied upon as representing our views as of any date subsequent to the date of this press release.
CONTACTS: | For Investors | For Media | ||
Maria E. Cantor | Liza Heapes | |||
Maria.cantor@ariad.com | Liza.heapes@ariad.com | |||
(617) 621-2208 | (617) 621-2315 |