This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Idera Pharmaceuticals Reports Fourth Quarter And Full Year 2012 Financial Results And Provides Update On Autoimmune Disease Program

Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) today reported its financial and operational results for the fourth quarter and year ended December 31, 2012.

“During the past year, Idera has demonstrated promising clinical activity for the use of Toll-like Receptor antagonists as a novel approach for the potential treatment of autoimmune diseases,” said Sudhir Agrawal, D.Phil., Chairman and Chief Executive Officer. “We recently completed dosing in the escalating single-dose portion of our Phase 1 study of IMO-8400, an antagonist of TLRs 7, 8 and 9. In this portion of the trial, IMO-8400 was well-tolerated and showed TLR target engagement at three dose levels in healthy subjects. These results build on the results of our Phase 2 clinical trial of IMO-3100, an antagonist of TLRs 7 and 9, in patients with plaque psoriasis, which we believe provided clinical proof of concept of our approach of targeting specific TLRs for the treatment of psoriasis and other autoimmune and inflammatory diseases.”

Dr. Agrawal continued, “Our next step is to conduct a Phase 2 clinical trial in patients with psoriasis with an extended treatment period of up to 12 weeks. Based on our evaluation of the comparative profiles of IMO-3100 and IMO-8400, including the engagement of TLR8 by IMO-8400, Idera has determined to conduct this Phase 2 trial with IMO-8400. Subject to successful completion of our ongoing multiple dose Phase 1 trial of IMO-8400 and to obtaining the necessary financing to conduct this trial, we expect to initiate this Phase 2 clinical trial in the second quarter of 2013.”

“Our 2012 year-end cash and cash equivalents totaled $10.1 million. We are exploring financial alternatives to obtain the additional capital to continue progress with our autoimmune disease program,” said Mr. Lou Arcudi, Senior Vice President of Operations and Chief Financial Officer.

Financial Results

As of December 31, 2012, cash and cash equivalents totaled $10.1 million compared to $24.6 million at December 31, 2011.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,867.88 -60.32 -0.34%
S&P 500 2,082.59 -6.87 -0.33%
NASDAQ 4,922.9350 -16.3920 -0.33%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs