BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) comprising all purchasers of the securities of ARIAD Pharmaceuticals, Inc. (“ARIAD” or the “Company”) (NASDAQ:ARIA) between December 12, 2011 and October 8, 2013, inclusive (the “Class Period”).

ARIAD is an oncology company, engaged in the discovery, development and commercialization of small-molecule drugs to treat cancer in patients with aggressive cancers where current therapies are inadequate. ARIAD’s first-approved cancer medicine, Iclusig™, is a tyrosine kinase inhibitor (TKI) for the treatment of adult patients with certain chronic or aggressive forms of leukemia who are resistant or intolerant to prior TKI therapy.

On October 9, 2013, the Company announced that the U.S. Food and Drug Administration placed a partial clinical hold on all new patient enrollment in clinical trials of Iclusig, following reports of non-serious and serious adverse events in Iclusig-treated patients. Following this news, the price of ARIAD shares dropped nearly 66%, or $11.31 per share, from the previous day’s closing price of $17.14 per share, to a closing price of $5.83 per share on October 9, 2013, on extremely heavy volume.

If you are a member of the Class described above you may move the Court no later than December 9, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased ARIAD shares prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.