Ariad Pharmaceuticals, Inc. Reports First Quarter 2007 Results and Provides Update on Corporate Developments

CAMBRIDGE, Mass.--(BUSINESS WIRE)--ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced financial results for the quarter ended March 31, 2007 and provided an update on corporate developments. “We are rapidly approaching achievement of three of our key objectives towards becoming a fully integrated oncology company. First, we expect to execute a partnership agreement with a major pharmaceutical company this quarter to help develop and commercialize our lead product candidate – the mTOR inhibitor, AP23573 – in a broad range of cancers. Second, we plan to initiate patient enrollment next quarter in our Phase 3 pivotal trial of oral AP23573 in metastatic sarcoma. Lastly, we are on track to file an investigational new drug application in the second half of this year for our next product candidate – the multi-targeted kinase inhibitor, AP24534 – initially for use in patients with drug-resistant chronic myeloid leukemia,” said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD.