November 23, 2013 - Shares of Ariad Pharmaceuticals Inc. (ARIA) skyrocketed 36% to $3.78 on Friday after ARIA Announced a Positive Opinion by the European Medicines Agency on the Continued Availability of Iclusig in Patients with Leukaemias. Shares hit a high of $4.04 before falling into the close.
“We have been working closely with the EMA to provide updated clinical-trial data on patients treated with Iclusig,” said Jonathan E. Dickinson, general manager, ARIAD Pharmaceuticals (Europe). “The conclusions reached by the CHMP, which were announced today, confirm a positive benefit-risk assessment for Iclusig after considering the most recent safety information. We expect that this will provide helpful guidance for patients and healthcare professionals as they consider the treatment options.”
So is it time to buy ARIA? Biotechnology stocks are very risky so whenever I'm trying to make a decision, I let the charts do that talking. ARIA stock has resistance at $4.28 & $4.53. If the stock breaks above this zone of resistance, the stock has the potential to explode. I will be buying on a break above $4.28 for a trade.
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