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.
Max Macaluso, Ph.D. and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.