Idera Pharmaceuticals Inc (NASDAQ: IDRA) is having an incredible start to the trading session today, and for good reason. The company provided an update with regard to one of the therapies that it is currently investigating, leading to excitement among investors and gains in the stock. As is almost always the case, our partners at Trade Ideas were the first to alert us of the gains. At the moment (8:00), IDRA is trading at $2.40 per share after a pre-market gain of $0.20 per share or 9.09% thus far today.
IDRA Provides Update On IMO-2125
As mentioned above, Idera Pharmaceuticals is having an incredible time in the pre-market hours this morning, and for good reason. The company released a PR early this morning with regard to a key clinical candidate known as IMO-2125. The company announced this morning that enrollment has begun for the Phase 2 portion of the ongoing Phase ½ clinical trial of the treatment. In a statement, Joanna Horobin, M.B., Ch.B, CMO at IDRA, had the following to offer…
“We are very pleased with the progress to date in the Phase 1 dose escalation trial of IMO-2125 in combination with ipilimumab, and with the outcomes observed… IMO-2125 in combination with ipilimumab demonstrated preliminary evidence of meaningful clinical activity in this anti-PD-1 refractory metastatic melanoma patient population which represents a high unmet medical need. All dose levels have been well tolerated and did not exacerbate the safety issues commonly observed with ipilimumab. Furthermore, data from multiple parameters of immune markers from tumor biopsies have been very informative in establishing proof-of-mechanism and supporting dose selection for the Phase 2 portion of [the]trial.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on IDRA. In particular, we’ll be watching the ongoing work the company is doing with regard to IMO-2125. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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