This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ariad Pharmaceuticals Management Discusses Q2 2012 Results - Earnings Call Transcript

During this period, we funded ongoing treatment in monitoring the patients in our Phase I and PACE clinical trials of ponatinib, the expansion of our expanded access program and investigator-sponsored trials of ponatinib, manufacturing activities in support of clinical trials, and importantly preparation of regulatory filings for ponatinib. In addition, R&D expenses in the second quarter of 2012 included a charge of $4.8 million to write down the carrying value of intangible assets related to ridaforolimus, following the issuance by the FDA of a complete response letter related to the MBA filed by Merck for ridaforolimus in patients with sarcomas.

Our G&A expenses increased by $6.1 million from the second quarter of 2011 to the second quarter of 2012 due to growth in commercial operations and supporting activities in the anticipation of potential regulatory approval and commercial launch of ponatinib. Our net loss for the first half of 2012 also reflects a charge of $15.9 million taken in the first quarter of 2012, related to the reevaluation of our warrant liability compared to a charge of $41.5 million for the first half of 2011 due to increases in the market price of our common stock during those periods. As we've stated before, all warrants that remained outstanding at December 31, 2011, were exercised in the first quarter of 2012, and therefore, there will be no further impact of these warrants on our statement of operations.

As of June 30, 2012, cash, cash equivalents and marketable securities totaled $250.3 million compared to $306.3 million at December 31, 2011. We are updating our financial guidance for 2012, in light of not receiving the $25 million milestone payment from Merck associated with approval -- U.S. approval of ridaforolimus in the sarcoma indication. We now expect cash used in operations for 2012 to be in the range of $162 million to $167 million, and we expect cash, cash equivalent and marketable securities at December 31, 2012, to be in the range of $142 million to $147 million. We estimate that current cash, cash equivalents and marketable securities are sufficient to fund our operations to the fourth quarter of 2013. Let me now turn the call back over to Harvey.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $92.18 -1.10%
FB $118.76 0.81%
GOOG $706.37 0.70%
TSLA $212.56 0.49%
YHOO $36.80 -0.38%


Chart of I:DJI
DOW 17,636.88 -23.83 -0.13%
S&P 500 2,045.92 -4.71 -0.23%
NASDAQ 4,698.7210 -18.3730 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs