+ Watch ARIA
on My Watchlist
The Company is engaged in the discovery and development of breakthrough medicines to treat cancers by regulating cell signaling with small molecules.
Ariad's share price has bounced around a lot this year in advance of data from the phase III SUCCEED trial of ridaforolimus in metastatic sarcoma, and is now close to a three year high (and a six-year high in market cap). A 540M cap is simply too much given the questionable odds of success of ridaforolimus against a tough solid tumor like sarcoma, and a cash position of only 60M.For those interested in put options, the ask on the May 4's is 1.10 today and I would expect a SUCCEED failure to send the share price below 1. That would represent a $190 profit per contract. The open interest on the May 2.50 puts is really high. I'll keep following the prices on these and consider a hit if the put prices continue to drop.
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