The European Medicines Agency has decided to look again at the clotting risks of Ariad Pharmaceuticals' troubled cancer drug Iclusig.
Ariad Pharmaceuticals seemed to dodge a bullet last month when the European Medicines Agency chose not to follow its U.S. counterpart, letting the troubled Iclusig stay on the market. Now, the regulator is reopening the books on Ariad's cancer drug, reviving concerns about the company's sole product and sending its shares down about 10%.
Drugmaker Ariad left its European operations untouched last month when it took an ax to its workforce after the FDA requested it pull its leukemia drug Iclusig off the market in the U.S. Regulators in the EU did not make the same request, but they also did not ignore the clotting risks that raised a red flag at the FDA.
Ariad Pharmaceuticals is letting go of nearly half its U.S. staff just a week after pulling its leukemia drug Iclusig from the market at the FDA's request, an unsurprising next step in what has been a monthlong downward spiral for the Massachusetts biotech.
With a plummeting share price and grim prospects for its lead drug, Ariad Pharmaceuticals is adopting a shareholder rights plan to deter would-be corporate raiders, a move to protect what little value it has left.
Shares of badly battered Ariad Pharmaceuticals took a fresh dive this morning after the biotech reported that it is jerking its leukemia drug Iclusig from the market, two weeks after the drug developer opted to shutter its Phase III confirmatory study after seeing evidence of an elevated risk of blood clots among patients.
Ariad Pharmaceuticals' October fall from grace has wiped almost $3 billion from the company's market cap, and now the beleaguered drugmaker is putting on hold its plans to move into a built-to-suit new headquarters in Cambridge, MA's biotech hub.
Faced with some serious safety issues, Ariad Pharmaceuticals today said it will shut down its pivotal EPIC 3 clinical study of Iclusig, putting the company under a dark cloud.
Ariad Pharmaceuticals slammed the brakes on new trial enrollment and rolled out a lower dosing schedule for patients in a slate of ongoing studies of Iclusig (ponatinib) after investigators tracked cardiovascular events among a significant group of leukemia patients.