8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                         PURSUANT TO SECTION 13 OR 15(D)
                                     OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported) April 27, 1998


                         COMMISSION FILE NUMBER: 0-21696

                           ARIAD PHARMACEUTICALS, INC.
             (Exact name of Registrant as specified in its charter)


             DELAWARE                                    22-3106987
 (State or other jurisdiction of            (I.R.S. Employer Identification No.)
  incorporation or organization)         
                                      



              26 LANDSDOWNE STREET, CAMBRIDGE, MASSACHUSETTS 02139
               (Address of principal executive offices)(Zip Code)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (617) 494-0400

               Former Name, Former Address and Former Fiscal Year,
                  If Changed Since Last Report: Not Applicable


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ITEM 5.   OTHER EVENTS

          On April 27, 1998, ARIAD Pharmaceuticals, Inc. (the "Company") 
          entered into agreements with institutional investors to raise
          $10,150,000 in a private placement of 2,537,500 shares of the 
          Company's common stock at a price of $4.00 per share. BancAmerica 
          Robertson Stephens served as Placement Agent in the transaction.

ITEM 7.   FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

          (C)  EXHIBITS

          99.  Press Release dated April 29, 1998.


                                   Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.



                                           ARIAD Pharmaceuticals, Inc.


Date: April 29, 1998                       By: /s/ Jay R. LaMarche
                                               -------------------
                                           Executive Vice President
                                           Chief Financial Officer

EX-99

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                                                                      EXHIBIT 99
[ARIAD LOGO]
                                                                   NEWS RELEASE

- --------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE                       CONTACT: Jay R. LaMarche
                                                     Chief Financial Officer
                                                     ARIAD Pharmaceuticals, Inc.
                                                     (617) 494-0400

                                                     Janet Dally
                                                     Burns McClellan, Inc.
                                                     212-213-0006


                  ARIAD ENTERS INTO AGREEMENTS FOR $10 MILLION
                              IN PRIVATE PLACEMENT

CAMBRIDGE, MA, APRIL 29, 1998 -- ARIAD Pharmaceuticals, Inc. (Nasdaq: "ARIA")
today announced that it has entered into agreements with institutional investors
to raise $10 million in a private placement of 2.5 million shares of common
stock. BancAmerica Robertson Stephens served as Placement Agent in the
transaction.

"We are extremely pleased to welcome a prominent group of new institutional
investors in ARIAD. This private placement strengthens our financial position
and provides resources to advance the Company's regulated gene expression
products towards clinical development," said Harvey J. Berger, M.D., Chairman
and Chief Executive Officer.

The financing is expected to close upon, and is subject to, the effectiveness of
a resale registration statement to be filed by the Company with the Securities
and Exchange Commission in connection with these shares. The Company is not
accepting additional subscriptions. Proceeds from the private placement will be
used to fund the Company's research and development activities, including
preclinical studies and, if successful, planned clinical trials, working
capital, and for general corporate purposes.

ARIAD Pharmaceuticals is engaged in the discovery and development of orally
administered therapeutics based on signal transduction technology. The Company
is developing small-molecule drugs that block intracellular signaling pathways
that play a critical role in major diseases including osteoporosis and
immune-related disorders. ARIAD is also developing ARGENT(TM), a proprietary
regulated gene expression technology for orally active protein therapy.


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Some of the matters discussed in this news release are forward-looking
statements that involve risks and uncertainties. In particular, there can be no
assurance that the transaction will close and that the Company will receive
proceeds from this private placement. Other risks and uncertainties include, but
are not limited to risks and uncertainties regarding the success of the
Company's preclinical studies, the ability of the Company to commence clinical
trials and the success of such clinical trials, as well as risks and
uncertainties relating to economic conditions, markets, products, services and
prices, and other factors discussed under the heading "Cautionary Statement
Regarding Forward-Looking Statements" in ARIAD's Annual Report on Form 10-K for
the fiscal year ended December 31, 1997 filed with the Securities and Exchange
Commission.

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