ARIAD Reaffirms Commitment to Discovering and Developing Treatments for Patients with Rare Cancers
October 20 2016 - 4:21PM
Business Wire
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today
acknowledged the receipt of a Congressional letter and reaffirmed
its commitment to discovering and developing treatments for
patients with rare cancers with the following statement:
ARIAD is a small, research-driven
biotechnology company. Its mission is the discovery, development
and delivery of highly innovative treatments for patients with rare
cancers, including those with no other treatment options available
today. The Company applies its deep in-house expertise and makes
significant investments in research and development (R&D) to
advance breakthrough treatments for patients.
The Company recognizes the high cost of
innovative oncology drugs and believes in the importance and
efficacy of its products. Importantly, to achieve its mission,
ARIAD has invested more than $1.3 billion in R&D and
accumulated losses of approximately $1.4 billion since the Company
was founded, which have not been recovered. In 2015, ARIAD
generated $119 million in total revenue and invested $171 million,
or 143% of revenue, in R&D. After years of risk-taking and
research, the Company has brought its first product to market
serving a very small and seriously ill group of cancer patients.
ARIAD remains fully committed to developing critical therapies for
unserved and underserved small patient populations suffering from
rare cancers.
The Company has received a letter from Rep.
Cummings and Sen. Sanders requesting information and plans to
respond to their request.
Forward-Looking StatementsThis press release contains
forward-looking statements. Any statements contained herein which
do not describe historical facts, including, but not limited to,
statements regarding: our mission, our planned investments in
R&D, and our commitment to our patients, are forward-looking
statements which are based on management's expectations and are
subject to certain factors, risks and uncertainties that may cause
actual results, outcome of events, timing and performance to differ
materially from those expressed or implied by such statements.
These factors, risks and uncertainties include, but are not limited
to, our ability to successfully commercialize and generate profits
from sales of our products; our ability to meet anticipated
clinical trial commencement, enrollment and completion dates and
regulatory filing dates for our products and product candidates and
to move new development candidates into the clinic; our ability to
execute on our key corporate initiatives; regulatory developments
and safety issues, including difficulties or delays in obtaining
regulatory and pricing and reimbursement approvals to market our
products; competition from alternative therapies; our reliance on
the performance of third-party manufacturers and specialty
pharmacies or our collaborators for the supply and distribution of
our products and product candidates; the occurrence of adverse
safety events with our products and product candidates; the costs
associated with our research, development, manufacturing,
commercialization and other activities; the conduct, timing and
results of preclinical and clinical studies of our products and
product candidates, including that preclinical data and early-stage
clinical data may not be replicated in later-stage clinical
studies; the adequacy of our capital resources and the availability
of additional funding; the ability to satisfy our contractual
obligations, including under our leases, convertible debt and
royalty financing agreements; patent protection and third-party
intellectual property claims; litigation; our operations in foreign
countries; risks related to key employees, markets, economic
conditions, health care reform, prices and reimbursement rates; and
other risk factors detailed in our public filings with
the U.S. Securities and Exchange Commission, including our
most recent Annual Report on Form 10-K and subsequent Quarterly
Reports on Form 10-Q. Except as otherwise noted, these
forward-looking statements speak only as of the date of this press
release and we undertake no obligation to update or revise any of
these statements to reflect events or circumstances occurring after
this press release. We caution investors not to place considerable
reliance on the forward-looking statements contained in this press
release.
About ARIADARIAD Pharmaceuticals, Inc., headquartered
in Cambridge, Massachusetts is focused on discovering,
developing and commercializing precision therapies for patients
with rare cancers. ARIAD is working on new medicines to advance the
treatment of rare forms of chronic and acute leukemia, lung cancer
and other rare cancers. ARIAD utilizes computational and structural
approaches to design small-molecule drugs that overcome resistance
to existing cancer medicines. For additional information,
visit http://www.ariad.com or follow ARIAD on Twitter
(@ARIADPharm).
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version on businesswire.com: http://www.businesswire.com/news/home/20161020006573/en/
ARIAD Pharmaceuticals, Inc.For InvestorsJennifer
Robinson, 617-621-2286Jennifer.Robinson@ariad.comFor
MediaLiza Heapes, 617-621-2315Liza.heapes@ariad.comOrJoele
Frank, Wilkinson Brimmer KatcherSteve Frankel / Ed Trissel / Jed
Repko, 212-355-4449
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