Ariad Pharmaceuticals Inc. has lost $568.3 million in market cap since FDA approved leukemia drug Iclusig ponatinib with an unexpected boxed warning for arterial thrombosis and liver toxicity. Buysiders and analysts think the sell-off was an overreaction, but expect the market to wait for sales numbers and additional data before moving back into the stock.

On Dec. 14, FDA granted accelerated approval for Iclusig to treat chronic myelogenous leukemia (CML) and Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL) that is resistant to or intolerant of prior treatment with tyrosine kinase inhibitors.