Ariad’s Leukemia Drug Probed By U.S. Regulators and 2 Other Hot Stocks to Watch
Ariad Pharmaceuticals Inc. (NASDAQ:ARIA): Current price $4.59
The Food and Drug Administration said Friday that the safety of Ariad’s leukemia drug Iclusig is being probed by U.S. regulators due to the growing frequency of reports of serious blood clots and the narrowing of blood vessels in patients. “Health-care professionals should consider for each patient, whether the benefits of Iclusig treatment are likely to exceed the risks of treatment,” the FDA said as it urged doctors and patients to report side effects of the drug. Ariad shares plunged by a record 66 percent on Wednesday after the firm reported the FDA had placed a hold on enrollment of all trials of Iclusig because of safety questions among participants. The drug was OK’d in 2012 for two rare forms of leukemia, and Ariad says it will remain on the market.