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ARIAD (ARIA) Stock Pops After Q2 Beat

NEW YORK (TheStreet) -- Shares of ARIAD Pharmaceuticals (ARIA) are surging 10.51% to $9.27 on heavy trading volume today after the oncology company posted better-than-expected earnings and revenue for the second quarter before Thursday's opening bell.

ARIAD reported earnings of 59 cents, surpassing analysts expectations of 11 cents per share. Revenue came in at $68.12 million, ahead of analysts projected $60.64 million.

Last year, the company posted earnings of 28 cents per share on revenue of $29.24 million for the second quarter.

"We had a strong second quarter, during which we initiated a rolling NDA submission for brignatinib based on our data from the ALTA pivotal...