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Ariad rises again, despite setback on drug


Ariad focuses on developing anticancer medicines.

Shares of Ariad Pharmaceuticals Inc. climbed again Thursday, despite this week’s vote against the Cambridge company’s first cancer-fighting drug by a Food and Drug Administration panel. It recommended against FDA approval for Ridaforolimus, a treatment for metastatic soft-tissue sarcoma and bone sarcoma. But investors are apparently more excited about a third-quarter application for Ponatinib, for chronic myeloid leukemia. Analysts said Ponatinib, which could generate annual sales of $1 billion, drives the stock than Ridaforolimus.

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