ARTICLE | Finance
Watchful waiting
Denner's addition to Ariad's board raises prospects for change from within
March 3, 2014 8:00 AM UTC
On paper, activist investor Alex Denner already has doubled his money on Ariad Pharmaceuticals Inc. (NASDAQ:ARIA), but his recent addition to the company's board suggests he sees even more value to be unlocked.
On Oct. 9, Ariad shares plummeted $11.31 (66%) to $5.83 after FDA placed a partial hold on enrollment in all trials of leukemia drug Iclusig ponatinib after two-year follow-up data from a study showed an increase in serious arterial thrombotic events with longer use of the drug...