Ariad Pharma Provides 2016 Product Revenue Outlook - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, Ariad Pharmaceuticals Inc. (ARIA) provided product revenue guidance for fiscal 2016.

For fiscal 2016, Ariad Pharma forecast net product revenues from sales of Iclusig in a range of $190 million to $200 million. The outlook includes sales of Iclusig in the U.S., Europe, and other select countries where Ariad has distributorships in place.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $218.15 million for the year. Analysts' estimates typically exclude special items.

Ariad said it will provide guidance on 2016 operating expenses at the time of completing its ongoing strategic review expected in the second quarter of 2016.

Further, Ariad said it is on track to file for approval of Brigatinib in the U.S. in the third quarter of this year. Brigatinib has received breakthrough-therapy designation from the U.S. Food and Drug Administration.

The company expects the randomized front-line clinical trial of brigatinib to begin in the second quarter of 2016. This Phase 3 trial is designed to compare brigatinib and crizotinib in patients with ALK+ non-small cell lung cancer or NSCLC, who have not received prior ALK inhibitors, and is expected to serve as a confirmatory trial for accelerated approval of brigatinib.

Paris Panayiotopoulos, president and chief executive officer of Ariad said, "In addition to maximizing top-line growth of Iclusig, a key event this year will be the presentation of pivotal, registration data on brigatinib at ASCO, along with our planned filing for marketing approval of brigatinib in the U.S."