8-K

                       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): August 1, 2003

                           ARIAD PHARMACEUTICALS, INC.
              ----------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


                Delaware                     0-21696               22-3106987
                --------                     -------               ----------
     (State or Other Jurisdiction   (Commission File Number)  (I.R.S. Employer
         of Incorporation)                                   Identification No.)


                              26 LANDSDOWNE STREET
                         CAMBRIDGE, MASSACHUSETTS 02139
              (Address of principal executive offices and zip code)


               Registrant's telephone number, including area code:
                                 (617) 494-0400























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


           (c) Exhibits.

              99.1 The Registrant's Press Release dated August 1, 2003.

              This Press Release is being furnished pursuant to Item 12 of this
              Current Report on Form 8-K and shall not be deemed "filed" for
              purposes of Section 18 of the Securities Exchange Act of 1934 (the
              "Exchange Act") or otherwise subject to the liabilities of that
              Section, nor shall it be deemed incorporated by reference in any
              filing under the Securities Act of 1933 or the Exchange Act.

ITEM 12.      RESULTS OF OPERATIONS AND FINANCIAL CONDITION

              On August 1, 2003, ARIAD Pharmaceuticals, Inc. announced its
              financial results for the three months ended June 30, 2003. A copy
              of the Press Release is furnished pursuant to this Item 12 as
              Exhibit 99.1 to this Current Report on Form 8-K.


                                   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 thereunto duly authorized.


                                   ARIAD PHARMACEUTICALS, INC.



                                   By:    /s/ Edward M. Fitzgerald
                                          ------------------------
                                          Edward M. Fitzgerald
                                          Senior Vice President and
                                          Chief Financial Officer


Date:    August 1, 2003


                                       2





                                  EXHIBIT INDEX

Exhibit
Number   Description                                      Sequential Page Number
- -------  -----------                                      ----------------------

99.1     The Registrant's Press Release dated August 1, 2003.         4


                                       3

EX-99

                                                                    Exhibit 99.1

ARIAD Reports Second Quarter 2003 Results; Progress in Development of
Oncology Product Candidates Updated

    CAMBRIDGE, Mass.--(BUSINESS WIRE)--Aug. 1, 2003--ARIAD
Pharmaceuticals, Inc. (Nasdaq: ARIA) today announced results for the
second quarter of 2003.

    Financial Highlights

    For the three months ended June 30, 2003, the Company reported a
net loss of $4.3 million, or $0.12 per share, compared to a net loss
of $7.0 million, or $0.22 per share, for the same period in 2002. This
decrease in net loss is due primarily to lower R&D expenses resulting
from the Company's focus on development of its small-molecule product
candidates for cancer.
    In May 2003, the Company raised $10 million through the sale of 4
million shares of its common stock in a direct equity placement to two
institutional investors. As a result, the Company ended the second
quarter of 2003 with $26.6 million in cash, cash equivalents and
marketable securities, compared with cash and cash equivalents of
$26.9 million at December 31, 2002. The year-to-date results are
consistent with the Company's anticipated cash burn rate for the year
2003 of approximately $18 million.
    "At mid-year, we are on target to meet all of our major financial
and product development goals for 2003," said Harvey J. Berger, M.D.,
chairman and chief executive officer of ARIAD.

    Product Development Highlights

    Three important oncology meetings - the American Society of
Clinical Oncology, the International Cancer Conference, and the
American Association for Cancer Research - provided ideal
opportunities for the Company to report recent progress in developing
its three lead cancer product candidates.

    AP23573 - the Company's lead candidate in phase 1 clinical trials
- - was shown to be highly effective in animal models of human solid
tumors: treatment initiated in early-stage tumor growth induced
persistent tumor regression of up to 90%, and treatment at a later
more-aggressive stage still produced significant reductions in the
rate of growth of all six tumor types studied (i.e., brain, prostate,
breast, pancreas, lung, and colon cancers). The research presented
also supports the use of AP23573 in multi-drug regimens that can be
tailored to treat specific cancers.
    Enrollment in phase 1 studies of AP23573 in cancer patients with
recurrent, advanced, or refractory disease was initiated in May at
major cancer centers in the U.S. and is progressing on schedule. The
cancers being studied include multiple solid tumors and blood
malignancies.

    AP23841 - in pre-IND development - was shown to directly block and
potently inhibit both tumor growth and bone destruction - the two
processes that need to be controlled to treat the grave clinical
consequences of cancer that has spread to bone from primary tumor
sites. AP23841 is also intended to treat primary bone cancers, such as
osteogenic sarcomas.
    AP23573 and AP23841 both inhibit the activity of a protein known
as mTOR, leading to shrinking of tumors by a novel mode of action -
cancer-cell starvation (metabolic arrest) through inhibition of
nutrient uptake to tumor cells, as well as inhibition of growth factor
stimulation.

    AP23464 - also in pre-IND development - was shown to be over
10-fold more potent than imatinib (Gleevec(TM)), the leading product
for chronic myeloid leukemia (CML), in blocking the activity of the
key cancer-causing protein responsible for Gleevec's efficacy.
Furthermore, unlike Gleevec, AP23464 is designed to block additional
leukemia therapeutic targets that become increasingly important in
patients who no longer respond to Gleevec - 75% of advanced-stage CML
patients treated for two years. AP23464 is also intended to block the
spread of cancer by inhibiting a protein that plays a key role in
orchestrating the molecular changes in cancer cells that enable them
to escape from primary tumors and travel to distant sites.

    ARIAD is engaged in the discovery and development of breakthrough
medicines that regulate cell signaling with small molecules. The
Company is developing a comprehensive approach to the treatment of
cancer and is primarily focused on a series of product candidates for
targeted oncology indications. ARIAD also has an exclusive license to
pioneering technology and patents related to the discovery,
development and use of drugs that regulate NF-(kappa)B cell-signaling
activity, which has been implicated in many major diseases.
    Additional information about ARIAD can be found on the web at
http://www.ariad.com.

    Gleevec is a trademark of Novartis AG.

    Some of the matters discussed herein are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such statements are identified by the use of words
such as "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe," and other words and terms of similar meaning in
connection with any discussion of future operating or financial
performance and include statements regarding the Company's anticipated
cash burn rate for 2003, the Company's belief that it is on target to
meet all major financial and product development goals for 2003, and
the potential efficacy of the Company's product candidates. Such
statements are based on management's current expectations and are
subject to certain factors, risks and uncertainties that may cause
actual results, outcome of events, timing and performance to differ
materially from those expressed or implied by such forward-looking
statements. These risks include, but are not limited to, risks and
uncertainties regarding the Company's ability to conduct preclinical
and clinical studies of its product candidates and the results of such
studies, regulatory oversight, intellectual property claims, the
timing, scope, cost and outcome of legal proceedings, future capital
needs, key employees, dependence on the Company's collaborators and
manufacturers, markets, economic conditions, products, services,
prices, reimbursement rates, competition and other risks detailed in
the Company's public filings with the Securities and Exchange
Commission, including ARIAD's Annual Report on Form 10-K for the
fiscal year ended December 31, 2002. The information contained in this
document is believed to be current as of the date of original issue.
The Company does not intend to update any of the forward-looking
statements after the date of this document to conform these statements
to actual results or to changes in the Company's expectations, except
as required by law.


             ARIAD PHARMACEUTICALS, INC. AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

In thousands, except share and per share data

                     Three Months Ended         Six Months Ended
                          June 30,                  June 30,
                      2003        2002          2003        2002
                         (Unaudited)               (Unaudited)

Total license
 revenue          $       153  $        13  $       279  $        13

Operating expenses:
   Research and
    development         3,206        6,028        7,747       11,127
   General and
    administrative      1,237        1,655        2,122        2,839
       Total operating
        expenses        4,443        7,683        9,869       13,966

Other income
 (expense), net           (14)         627          (26)         743

Net loss          $    (4,304) $    (7,043) $    (9,616) $   (13,210)

Net loss per
 common share
 (basic and
  diluted)        $      (.12) $      (.22) $      (.27) $      (.41)

Weighted average
 number of shares
 of common stock
 outstanding
 (basic and
  diluted)          36,769,778   32,452,353   35,814,896   32,385,139



           CONDENSED CONSOLIDATED BALANCE SHEET INFORMATION


                                               June 30,   December 31,
In thousands                                     2003         2002
                                              (Unaudited)

Cash, cash equivalents and marketable
 securities                                 $    26,622   $    26,850
Total assets                                $    34,421   $    35,104
Working capital                             $    22,703   $    21,172
Total liabilities                           $    12,685   $    13,252
Stockholders' equity                        $    21,736   $    21,852

    CONTACT: ARIAD Pharmaceuticals, Inc.
             Tom Pearson, 610/407-9260
             or
             Kathy Lawton, 617/621-2345