This Stock Rocks as Its Drug Rolls Aheadhttp://www.fool.com/investing/general/2012/09/28/this-stock-rocks-as-its-drug-rolls-ahead.aspx Keith Speights
September 28, 2012
Check another item off the list for ARIAD Pharmaceuticals (Nasdaq: ARIA ) as it rolls along with its plans for ponatinib. The company announced on Thursday that it completed the rolling submission of the New Drug Application for ponatinib. ARIAD has requested accelerated approval and a priority review from the Food and Drug Administration.
What it means
ARIAD submitted most sections of the NDA for ponatinib in July. The final submission that was just announced included remaining chemistry, manufacturing, and controls data.
Shares immediately received a bump upwards on the news of the final submission. Not that much of a bump was needed. The stock continues to perform like a rock star for shareholders, shooting up more than 130% in the past year.
The market appears to have baked ultimate FDA approval for ponatinib into the stock price. So far, no reasons have emerged to doubt that approval will be given.
The product farthest along in the development