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Idera Pharmaceuticals Reports 4Q Profit

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.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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