posted
Taking a chance that the shorts will be caught pants down.
Had huge news and run last week, since shorts have beaten this down to a good support level.
Here the news.:
Jury Rules in Favor of ARIAD and Co-Plaintiffs in Lilly NF-(kappa)B Patent Infringement Lawsuit
Thursday , May 04, 2006 11:20 ET
CAMBRIDGE, Mass., May 04, 2006 (BUSINESS WIRE) -- ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) and its co-plaintiffs today announced that the jury in the United States District Court for the District of Massachusetts has found in favor of the plaintiffs in their lawsuit against Eli Lilly and Company ("Lilly") alleging infringement of the plaintiffs' pioneering U.S. patent covering methods of treating human disease by regulating NF-(kappa)B cell-signaling activity. The jury ruled unanimously in favor of the plaintiffs in finding that the claims of the NF-(kappa)B patent asserted in the lawsuit are valid and infringed by Lilly with respect to Lilly's osteoporosis drug, Evista(R), and Lilly's septic shock drug, Xigris(R).
The jury awarded damages to the plaintiffs in the amount of approximately $65.2 million, based on the jury's determination of a reasonable royalty rate of 2.3% to be paid by Lilly to the plaintiffs based on U.S. sales of Evista and Xigris from filing of the lawsuit on June 25, 2002 through February 28, 2006. The jury awarded further damages on an ongoing basis, in amounts to be determined, equal to 2.3% of U.S. sales of Evista and Xigris through the year 2019, when the patent expires.
The co-plaintiffs are Massachusetts Institute of Technology, The Whitehead Institute for Biomedical Research, and The President and Fellows of Harvard College.
"We are extremely pleased with the jury's verdict supporting our assertions regarding Lilly's infringement of our patent and its validity. This finding coincides with the twentieth anniversary of the discovery of NF-(kappa)B by the research groups led by Professors David Baltimore, Phillip Sharp and Tom Maniatis and highlights the importance of their pioneering discoveries," said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD.
Dr. Berger added, "While Lilly has the right to challenge the verdict in the trial court and on appeal, and certain limited issues relating to validity and enforceability of our patent remain pending before the judge, we are confident that we will prevail in the trial court and the verdict will be upheld by the appeals court, if Lilly files an appeal."
About ARIAD
ARIAD is engaged in the discovery and development of breakthrough medicines to treat cancer by regulating cell signaling with small molecules. The company is developing a comprehensive approach to patients with cancer that addresses the greatest medical need - aggressive and advanced-stage cancers for which current treatments are inadequate. Medinol Ltd. also is developing stents and other medical devices that deliver ARIAD's lead cancer product candidate to prevent reblockage at sites of vascular injury following stent-assisted angioplasty. ARIAD has an exclusive license to pioneering technology and patents related to certain NF-(kappa)B treatment methods, and the discovery and development of drugs to regulate NF-(kappa)B cell-signaling activity, which may be useful in treating certain diseases. Additional information about ARIAD can be found on the web at http://www.ariad.com.
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Adding some more here...trying to bounce. Possibly related to conference starting tomorrow.
Still +4M shorts.
Here the recent info about it:
Comprehensive Clinical Data on ARIAD's Novel mTOR Inhibitor, AP23573, to Be Presented at the ASCO Annual Meeting; ARIAD to Host Investor Conference Call on June 5, 2006 at 6:30 p.m. ET
Monday , May 22, 2006 07:30 ET
CAMBRIDGE, Mass., May 22, 2006 (BUSINESS WIRE) -- ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) today announced that clinical investigators from U.S. and European cancer centers will present updated data from Phase 2 and Phase 1b clinical trials of the Company's novel mTOR inhibitor, AP23573, at the annual meeting of the American Society of Clinical Oncology (ASCO) in Atlanta, Georgia, June 2 to 6, 2006. Comprehensive analysis of the Phase 2 clinical results on AP23573 as a single agent in patients with advanced soft-tissue and bone sarcoma will be delivered as an oral presentation during the clinical science symposium highlighting mTOR as a molecular target in sarcoma. Phase 1b clinical results on AP23573 in combination with the chemotherapy agent capecitabine in patients with a broad range of solid tumors will also be presented.
"We continue to make excellent progress in the clinical development of our lead oncology product candidate, AP23573, and are on track to launch our pivotal trial in patients with sarcomas by year-end 2006," said Harvey J. Berger, M.D., chairman and chief executive officer of ARIAD.
Camille Bedrosian, M.D., chief medical officer of ARIAD, added, "We recently marked an important milestone in this drug-development program: the very first patient ever dosed with AP23573 in 2003 celebrated her third anniversary on AP23573 therapy - an inspiring example of the highly targeted and durable beneficial activity of AP23573 in patients with aggressive and advanced sarcomas."
The schedule and meeting places for the sessions, together with the abstract numbers, are listed below:
Monday, June 5, 2006 at 5:15 p.m. to 5:30 p.m. - Oral Presentation Session Title: Clinical Science Symposium - "mTOR as a Molecular Target in Sarcoma" Abstract No. 9505 "Updated results of a phase 2 trial of AP23573, a novel mTOR inhibitor, in patients with advanced soft tissue or bone sarcomas" Presenter: Sant P. Chawla, M.D. Location: Building A, Level 4, Room A411
Sunday, June 4, 2006 at 2:00 p.m. to 4:00 p.m. - Poster Presentation Session Title: Developmental Therapeutics: Molecular Therapeutics Abstract No. 3065; Poster No. Y7 "Phase 1b pharmacokinetic (PK) and pharmacodynamic (PD) study to define the optimal dose for combining the mTOR inhibitor AP23573 with capecitabine" Presenter: Antonella Perotti, M.D. Location: Building B, Level 1, Hall B5
Investor Conference Call
In conjunction with the release of the data at ASCO, ARIAD will host an investor conference call on Monday, June 5, 2006 at 6:30 p.m. (ET). The webcast/conference call can be accessed by visiting the investor relations section of the Company's website at http://www.ariad.com/investor or by dialing 1-888-396-2298 (domestic) or 617-847-8708 (international) five minutes prior to the start time and providing the passcode 73326584. A replay of the webcast will be available on the ARIAD website approximately two hours after completion of the call and will be archived for two weeks.
About AP23573
ARIAD's lead product candidate, AP23573, is a novel small-molecule inhibitor of the protein mTOR, a "master switch" in cancer cells. Blocking mTOR creates a starvation-like effect in cancer cells by interfering with cell growth, division, metabolism, and angiogenesis. AP23573 is currently in Phase 1 and 2 clinical trials in patients with solid tumors and hematologic cancers. AP23573 has been designated both as a fast-track product and an orphan drug by the U.S. Food and Drug Administration and as an orphan drug by the European Medicines Agency for the treatment of soft tissue and bone sarcomas. In addition to its program in oncology, ARIAD is collaborating with Medinol Ltd to develop stents and other medical devices that deliver AP23573 to prevent reblockage at sites of vascular injury following stent-assisted angioplasty.
About ARIAD
ARIAD is engaged in the discovery and development of breakthrough medicines to treat cancer by regulating cell signaling with small molecules. The Company is developing a comprehensive approach to patients with cancer that addresses the greatest medical need - aggressive and advanced-stage cancers for which current treatments are inadequate. Medinol Ltd. also is developing stents and other medical devices that deliver ARIAD's lead cancer product candidate to prevent reblockage at sites of vascular injury following stent-assisted angioplasty. ARIAD has an exclusive license to pioneering technology and patents related to certain NF-(kappa)B treatment methods, and the discovery and development of drugs to regulate NF-(kappa)B cell-signaling activity, which may be useful in treating certain diseases. Additional information about ARIAD can be found on the web at http://www.ariad.com.
posted
What a Great Story this stock has. Promising Cancer drugs and other medical equipment such as the stents. And the law suit against Lilly! That is nice.
IP: Logged |
posted
What I also like is that in the lawsuit they won future compensation in a percentage of sales of the drug in question. Warm and fuzzy revenue for the future, thanks lilly.
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