ARIAD RAISES $54 MILLION THROUGH COMPLETION OF COMMON STOCK OFFERING

ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) today announced the completion of its previously announced underwritten public offering of 7,500,000 shares of its common stock. The shares were priced at $7.20 per share resulting in gross proceeds to ARIAD of $54 million. Lehman Brothers Inc. acted as sole book-running manager in this offering. Lazard Capital Markets LLC and SG Cowen & Co., LLC acted as co-managers.

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