Ariad Pharmaceuticals Inc agrees to protocol assessment with FDA
Shares of Ariad Pharmaceuticals Inc. (Nasdaq: ARIA) are gaining ground ahead of the opening bell after the developer of medicines to treat cancers reported that it has agreed to a special protocol assessment with the U.S. Food and Drug Administration for its oral deforolimus in patients with metastatic sarcomas, aggressive cancers of connective tissue in the body.
Ariad, which has partnered with Merck (NYSE: MRK) in the development of deforolimus as a treatment for cancer, said it expects to begin patient enrolment for the trial later this month.
Deforolimus is a small-molecule inhibitor of the protein mTOR, a “master switch” in cancer cells. Ariad said blocking mTOR creates a starvation-like effect in cancer cells.
Shares of Ariad jumped 6.98%, or $0.33, to $5.06 ahead of the opening bell.
