ARIAD Raises $14.5 Million Through Completion of Common Stock Offering.

CAMBRIDGE, Mass. -- ARIAD Pharmaceuticals, Inc. (Nasdaq: ARIA) announced the completion of its previously announced underwritten offering of 3,112,945 shares of its common stock. The shares were sold to Credit Suisse Securities (USA) LLC, the sole underwriter, at a price of $4.65 per share, providing proceeds to the Company of $14.5 million, or $14.3 million after deducting expenses of the offering. Credit Suisse Securities (USA) LLC has an option to purchase up to an additional 466,942 shares of ARIAD's common stock which expires on November 18, 2006. Following this offering, the Company has used all of the shares available for issuance under its effective shelf registration statements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.

ARIAD is engaged in the discovery and development of breakthrough medicines to treat cancer by regulating cell signaling with small molecules.