Ariad Raises $30.9M

8/4/09Follow @xconomy

Cambridge, MA-based Ariad Pharmaceuticals (NASDAQ: ARIA), the developer of cancer drugs, said today it has raised net proceeds of $30.9 million through a stock offering. The company sold 19 million new shares at $1.75 apiece. CEO Harvey Berger personally agreed to buy $3 million worth of shares.

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