ARIAD Announces $24.3 Million Registered Direct Financing

ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) announced that it has entered into definitive agreements with selected existing and new institutional investors to sell to them 14,378,698 shares of common stock (approximately 19.9% of the Company’s current outstanding common shares) at a purchase price of $1.69 per share, the closing price of the Company’s common stock on February 19, 2009, resulting in net proceeds of approximately $22.8 million after deducting placement agent’s fees and estimated offering expenses. Investors also received 0.75 of a warrant, exercisable at a price of $2.15 per share, for each share of common stock. The warrants have a three-year term from the date of issuance...

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