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ARIAD Pharmaceuticals reported results this morning for the first quarter since the FDA approved -- breakthrough cancer drug -- isn't.
It beat expectations in the stock is jumping on this news joining me now -- -- Fox Business -- I -- her very founder chairman and CEO Harvey it's great to have you back on the -- Thanks very much Carol what a lot has changed -- since we spoke last time in particular.
Revenues coming in really strong for the quarter.
I still though a little bit of a -- bit -- pressure on the company howdy yeah how do you respond to the Wall Street -- getting -- a little bit concerned here.
Well you know I think -- today was the first time we've reported revenues we came in at a bad.
35 to 40% above the consensus on the street -- If you we started off with a very strong launch.
With a wide adoption of by -- that.
Really the whole spectrum of CML patients but resistance and intolerant to prior treatments so.
Exactly where we position the Madison during clinical development and in the review process is where it's being used broadly.
In this very difficult to treat cancer.
It's well it certainly is difficult to treat cancer but I'm curious.
How you're feeling about the performance of the drug abuse went when we spoke -- -- -- it big emergence in the approval of the a leukemia drug was that a big moment for you -- for the company know that you're seeking approval in Europe are seeking approval in Canada but how -- the actual drug itself perform.
Well it is it's actually performed way ahead of expectations.
Coming in with close to six and a half million dollars have.
Revenues in the first quarter.
Tracking at about 40% above.
No -- -- live which is standard in this in this disease if you look back at the same point.
In time when there will be a lot -- or to Cigna.
Launched number of years ago is in the resistant or intolerant population of patience.
We're coming in about 40% higher in terms of numbers of new prescriptions.
So the launch is going very well it is very strong ahead of expectations.
And widely adopted across patients.
Do you think that the stock's performance and and then the analyst reaction is it should be better than it has been simply because you got that black or boxed warning.
A liver talks at the toxicity scares me is obviously.
An issue an concerns about blood clots.
On do you think that those that that black box warning was fair do you want to dispute that -- the FDA do you think the -- of the mystery is misunderstood about the company about the drug itself.
I don't think today.
Analysts -- all focused on that physicians certainly are not.
I'm as we said this morning there's really no discernible impact of the boxed warning.
On the adoption of -- -- -- I think you know all virtually all the analysts have come as today in follow up to our first quarter results have been extremely positive.
Most have been raising their expectations for revenues this year.
And anticipate an even stronger.
Penetration by clues take into the marketplace so.
It's viewed in the community in that to physicians as a very safe well tolerated and extremely.
Effective new treatment option.
In patients with fill it -- -- positive leukemia.
Well now they've got more data more patient data with this leukemia drug do you feel that the -- -- warning.
Was from the FDA and because it's it's isn't quite -- usual to get this type of warning to get a drug approval but then to get that black box warning.
No actually not most new cancer medecins.
Have boxed warnings and a lot delivered to Signet.
Standard the gold standard if you will for the available second generation Madison's.
Has a boxed warning its.
Very common not only in cancer but in other therapeutic areas.
So it's you know it's representative.
Experience in a single arm trial that resulted in very rapid approval.
And -- to uptake of I clues think.
So now -- you know we.
We we don't see it having any meaningful impact on adoption.
Oak Hill heart and before I let it go -- -- asking you've got another drug in development for lung cancer can give us a quick update.
Very important next step in our.
It's a drug which we called 26113.
Again it's a targeted medicine that specifically blocks.
One of the important drivers of malignancy and non small cell lung cancer.
We'll be starting the pivotal trial in -- patients who -- resistant to available therapies starting in the next quarter.
And are expanding clinical development.
Into a broader group of lung cancer patients starting the next couple weeks.
So it's clearly gonna follow up I close -- as an important next internally discovered and developed.
New targeted cancer medicine from area -- -- murder REI pharmaceuticals founder chairman CEO.
Nice to see you again today -- back on the show thank you thank you.
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