Shares of Ariad Pharmaceuticals Inc. fell Tuesday after the company reported a larger fourth-quarter loss, as development of its experimental cancer treatments continued.
Ariad said it lost $51.8 million, or 38 cents per share, for the three months ended Dec. 31, compared with a loss of $30.3 million, or 25 cents per share, for the 2010 fourth quarter. The company took a $9.3 million warrant liability charge to reflect the rising price of its stock, and its research and development costs grew 53 percent to $24.7 million.
Ariad said its revenue fell more than six fold, to $78,000 from $535,000.
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