4 Healthcare Stock Stories for Weekend Investment Wellness
ARIAD Pharmaceuticals Inc. (NASDAQ:ARIA): Closing price $2.58
ARIAD said Friday that its board has adopted a shareholder rights plan in the form of a Section 382 Rights Agreement, created to preserve its substantial tax assets. As of December 31, ARIAD had tax assets, including net operating loss carryforwards at $307.7 million and research tax credits of $17.8 million, which could be used in certain circumstances to offset its future taxable income or otherwise payable taxes, and thus lower its federal and state income tax liabilities. The firm’s plan is similar to plans adopted by many other public companies holding significant tax assets.