Ariad’s safety woes panicked investors – including staffers with insider info: SEC
Two members of the risk management team at Ariad had more on their minds back in 2012-2013 than team goals. According to the SEC, the safety issues that beset the biotech’s leukemia drug Iclusig — since snapped up in a Takeda buyout — also presented a compelling reason to sell company stock before some of the latest information became public, hammering the share price.
For Maureen Curran, Ariad’s former senior director of pharmacovigilance and risk management, the moment of truth arrived in December 2012 with word of a safety warning the FDA wanted on the label. Susan Dubuc, who worked as an associate director in the same office, followed up in the fall of 2013, alerting relatives who held Ariad shares that the agency was forcing a halt in clinical trials.
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