Cambridge, MA-based Ariad Pharmaceuticals (NASDAQ: [[ticker:ARIA]]), the developer of cancer drugs, said today it has raised net proceeds of $30.9 million through a stock offering. The company sold 19 million new shares at $1.75 apiece. CEO Harvey Berger personally agreed to buy $3 million worth of shares.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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