CAMBRIDGE, Mass.--(BUSINESS WIRE)--ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced financial results for the quarter and nine months ended September 30, 2007 and provided an update on corporate developments. “The past few months have been marked by major milestones in ARIAD’s evolution, led by the announcement of our collaboration with Merck & Co., Inc. on our most advanced oncology product, deforolimus, and the launch of our Phase 3 pivotal trial under a Special Protocol Assessment for oral deforolimus in metastatic sarcomas,” said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD. “The highly favorable financial terms and innovative structure of the Merck collaboration provide the foundation for becoming a fully integrated oncology company. To this end, we are also advancing our second development candidate, AP24534, to clinical trials. This multi-targeted kinase inhibitor has a unique profile and has demonstrated compelling preclinical results in models of chronic myeloid leukemia. We expect to file an Investigational New Drug application for AP24534 and to present new data at the American Society of Hematology meeting, both by year end 2007.”
