Ariad's cancer drug trials placed on partial hold, shares slump

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Ariad's cancer drug trials placed on partial hold, shares slump

By Vrinda Manocha (Reuters) - Ariad Pharmaceuticals Inc said the U.S. Food and Drug Administration had placed a partial hold on patient enrollment for trials of its cancer drug Iclusig after a number of patients taking the drug experienced blood clots and heart damage. Ariad shares plunged as much as 77 percent to $4.00 in heavy trading -- their lowest in three years. The company said it paused enrollment in the trials after it reviewed new data from a pivotal mid-stage trial testing the drug to treat two forms of blood cancer. ...

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