Ariad Pharma Shares Fall as Analyst Concerned with Results from Recent Iclusig Survey

Shares of Ariad Pharma

are down more than 4 percent on heavy volume Wednesday afternoon following some comments from Healthcare-focused Favus Institutional Research. The firm's Elliot Favus cited a recent survey which suggested data on Iclusig is pointing to a much larger-than-expected number of serious adverse events which were not consistent with frontline CML usage. Favus said side effects include pancreatitis, severe acute hypertension, stroke, non-reversable significant liver toxicity and gastrointestinal perforation. The analyst noted 26 patients in the survey experienced abdominal pain which required medical attention and 21 patients developed pancreatitis. Ariad Pharma shares last traded at $16.77.