Ariad raises $59.2 million

Ariad Pharmaceuticals Inc. (NASDAQ:ARIA) raised $59.2 million through the sale of 16 million shares at $3.70 in a follow-on underwritten by Jefferies and Oppenheimer. Ariad proposed the follow-on late Monday, when its stock price was $4.10. Ariad was off $0.39 (10%) to $3.71 on Tuesday. ...