$Ariad Pharmaceuticals(ARIA)$  received rapid approval for its first drug Iclusig (ponatinib), more than three months ahead of the PDUFA date. The inclusion of a black box warning for arterial thrombosis and liver toxicity, however, caught the street by surprise, leading to an immediate 20% sell-off. We believe this reaction was overdone and don’t anticipate this label will crucially impact Iclusig’s use in the refractory/intolerant CML setting