After gaining FDA approval for its chronic myeloid leukemia drug Iclusig in December, all eyes have been on Ariad Pharmaceuticals' (NASDAQ: ARIA) launch of the product. This drug is entering a competitive market currently dominated by big pharma companies Novartis and Bristol-Myers Squibb.
With commercial activities ramping up, clinical trials ongoing, and preparations under way to potentially launch Iclusig in Europe, the company is in need of more capital. In this video, health-care analyst Max Macaluso discusses why Ariad's announcement of an upcoming $300 million public offering is an essential long-term move for the company.
