Financing to support global commercialization of Iclusig™
(ponatinib) and additional clinical development of its investigational
targeted cancer medicines
ARIAD Pharmaceuticals, Inc. (NASDAQ: ARIA) today announced that it has
commenced an underwritten public offering of shares of its common stock.
All of the shares in the offering are to be sold by ARIAD.
J.P. Morgan Securities LLC, Cowen and Company, LLC and Jefferies &
Company, Inc. are acting as joint book-running managers and underwriters
for the proposed offering. ARIAD intends to grant the underwriters a
30-day option to purchase up to an additional 15 percent of the amount
sold to cover over-allotments, if any. The offering is subject to market
and other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or terms of
the offering.
ARIAD intends to use the net proceeds of this offering for its
operations, including, but not limited to, sales, marketing,
manufacturing and distribution of Iclusig™ (ponatinib); for ongoing
global development of its other product candidates, including clinical
trials, product and process development activities, manufacturing and
other activities; expansion of operations in Europe and other
territories to prepare for future commercial launch of products, if
approved; discovery research efforts to add to its pipeline of product
candidates; and for other general corporate purposes, including, but not
limited to, repayment or refinancing of existing indebtedness or other
corporate borrowings, capital expenditures and possible acquisitions.
A shelf registration statement on Form S-3 relating to the public
offering of the shares of common stock described above has been filed
with the Securities and Exchange Commission (the “SEC”) and is
effective. A preliminary prospectus supplement relating to the offering
has been filed with the SEC. Copies of the preliminary prospectus
supplement and accompanying prospectus may be obtained from the offices
of J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717 (Telephone number 866-803-9204);
the offices of Cowen and Company, LLC, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Telephone number
631-274-2806); or the offices of Jefferies & Company, Inc., Equity
Syndicate Prospectus Department, 520 Madison Avenue, 12th Floor, New
York, NY, 10022, or by telephone at 877-547-6340, or by email at Prospectus_Department@Jefferies.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there be any
sale of these securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
state or other jurisdiction.
About ARIAD
ARIAD Pharmaceuticals, Inc. is a global oncology company focused on the
discovery, development and commercialization of medicines to transform
the lives of cancer patients. For more information about ARIAD, visit
the company’s website at www.ariad.com.
Forward-looking Statements
Certain of the statements made in this press release are forward
looking, such as those, among others, relating to our expectations
regarding the completion of the proposed public offering, the use of
proceeds, and our drug development and commercialization plans. Actual
results or developments may differ materially from those projected or
implied in these forward looking statements. Factors that may cause such
a difference include, without limitation, risks and uncertainties
related to whether or not we will be able to raise capital through the
sale of shares of common stock, the final terms of the proposed
offering, market and other conditions, the satisfaction of customary
closing conditions related to the proposed public offering and the
impact of general economic, industry or political conditions in the
United States or internationally. There can be no assurance that we will
be able to complete the proposed public offering on the anticipated
terms, or at all. You should not place undue reliance on these forward
looking statements, which apply only as of the date of this press
release. Additional risks and uncertainties relating to the proposed
offering, ARIAD and our business can be found under the heading "Risk
Factors" in the filings that we periodically make with the SEC and in
the preliminary prospectus supplement related to the proposed offering
filed with the SEC on the date hereof. In addition, the forward-looking
statements included in this press release represent our views as of the
date of this press release. We anticipate that subsequent events and
developments will cause our views to change. However, while we may elect
to update these forward-looking statements at some point in the future,
we specifically disclaim any obligation to do so. These forward-looking
statements should not be relied upon as representing our views as of any
date subsequent to the date of this press release.
