Ariad Q1 results

Published: 6-May-2004
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Ariad Pharmaceuticals, from Cambridge, MA, US has reported a net loss of $6.2m for the first quarter 2004 compared with a net loss of $5.3m for the same quarter of 2003. On March 29, 2004, the Company raised gross proceeds of $43m through the sale of 5,060,000 shares of its common stock in an underwritten public offering led by Lehman Brothers. The Company ended the quarter with $102.3m in cash, cash equivalents and marketable securities. This compares with cash, cash equivalents and marketable securities of $66.7m at December 31, 2003.

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