CAMBRIDGE, Mass. (AP) ¿ Idera Pharmaceuticals Inc. on Wednesday reported a fourth-quarter profit as revenue grew from payments through its drug development partnerships.
The company earned $364,000, or a penny per share, compared with a loss of $4.5 million, or 21 cents per share, during the same period a year before. Revenue jumped to $6.2 million from $2.2 million.
Analysts polled by Thomson Reuters expected profit of a penny per share on revenue of $6.2 million.
For the full year, Cambridge, Mass.-based Idera earned $1.5 million, or 6 cents per share, compared with a loss of $13.2 million, or 62 cents per share, in 2007. Revenue rose to $26.4 million from $8 million.Idera is developing experimental treatments targeting infectious, autoimmune and respiratory diseases, as well as cancer.