Idera Pharmaceuticals Inc (NASDAQ: IDRA) is having an overwhelmingly strong day in the market today, and for good reason. The company issued a press release this morning, providing investors with an update with regard to both clinical development and corporate activities. Today, we’ll talk about the update, what we’re seeing from the stock, and what we’ll be watching for with regard to IDRA ahead.
IDRA Provides Key Update
As mentioned above, Idera Pharmaceuticals, Inc. is having an incredibly strong day in the market today after updating investors with regard to clinical development programs as well as providing an outlook for the rest of the year. Of course, the update proved to be overwhelmingly positive, leading to excitement among investors and pushing the stock toward the top. To read the full update, click here. In a statement, Vincent Milano, CEO at IDRA, had the following to offer:
“2018 has the opportunity to be a truly transformative year for Idera in many ways… Our ongoing clinical development programs have advanced well and momentum is building, particularly around IMO-2125, which will now be referred to as the Illuminate Development Program. We continue to make progress in our efforts to advance IMO-2125 into Phase 3 and make IMO-2125 a commercial reality for patients in need of a solution following progression on PD-1 therapy. We’re also looking forward to reporting the results of the Phase 2 trial of IMO-8400 in dermatomyositis, as well as providing a data-driven development decision for IDRA-008 targeting APOC-III.
Outside of the exciting progress we are making clinically with our programs, we continue to be extremely active in business development. We plan to explore partnering opportunities as well as identify assets that fit within our corporate strategy of building a company focused on delivering solutions for patients with rare unmet medical needs.”
What We’re Seeing From The Stock
When we first get started in the market, one of the first things that we learn is that the news moves the market. With such a strong update and outlook for the year 2018, it only makes sense that excited investors are pushing Idera Pharmaceuticals toward the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (11:21), IDRA is trading at $2.34 per share after a gain of $0.11 per share or 4.71% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on IDRA. In particular, we’re interested in following the progress surrounding IMO-2125 and the rest of the company’s robust clinical pipeline. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!