Shares of Abbott Laboratories (NYSE:ABT) ended Monday session in red amid volatile trading. The shares closed down -0.51 points or 1.21% at $41.68 with 6.38 million shares getting traded. Post opening the session at $42.01, the shares hit an intraday low of $41.61 and an intraday high of $42.02 and the price vacillated in this range throughout the day. The company has a market cap of $61.23 billion and the numbers of outstanding shares have been calculated to be 1.47 billion shares.
Abbott Laboratories (ABT) will announce its third-quarter 2016 financial results on Wednesday, Oct. 19, 2016, before the market opens.
The announcement will be followed by a live webcast of the earnings conference call at 8 a.m. Central time (9 a.m. Eastern), and will be accessible through Abbott’s Investor Relations website at www.abbottinvestor.com. An archived edition of the call will be available after 11 a.m. Central time.
Shares of Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA) ended Monday session in green amid volatile trading. The shares closed up +0.44 points or 3.25% at $13.96 with 6.33 million shares getting traded. Post opening the session at $13.75, the shares hit an intraday low of $13.61 and an intraday high of $14.01 and the price vacillated in this range throughout the day. The company has a market cap of $2.67 billion and the numbers of outstanding shares have been calculated to be 192.71 million shares.
Ariad Pharmaceuticals, Inc. (ARIA) on August 30, 2016 announced it has completed the rolling submission of the New Drug Application (NDA) for its investigational anaplastic lymphoma kinase (ALK) inhibitor, brigatinib, to the U.S. Food and Drug Administration (FDA). ARIAD is seeking U.S. marketing approval of brigatinib for patients with metastatic ALK-positive (ALK+) non-small cell lung cancer (NSCLC) who are resistant or intolerant to crizotinib. The Company is seeking accelerated approval for brigatinib from the FDA and has requested a priority review of the application, which, if granted, would allow for approval of brigatinib eight months after the NDA submission, as opposed to 12 months for a standard review.
“Many patients with ALK-positive non-small cell lung cancer eventually develop disease progression,” said Corey Langer, M.D., director of thoracic oncology in the Abramson Cancer Center of the University of Pennsylvania and a professor of Hematology-Oncology in Penn’s Perelman School of Medicine. “We are excited that the brigatinib NDA submission is now complete and are hopeful that brigatinib’s data, including the observation of complete responses and activity in the central nervous system, will provide patients and their oncologists with a new treatment option.”