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Tag: Idera Pharmaceuticals

  • Tilsotolimod’s Updates: Idera Pharmaceuticals Inc. (IDRA) stock slid further After Hours

    Idera Pharmaceuticals Inc. (IDRA) stock lost a further 12.76% in the after-hours, while it was down by 1.14% in regular trading. On December 14, the company provided updates for its tilsotolimod, which did not impress the investors.

    In the regular session, the stock traded between $0.8405 and $0.9490, at a volume of 3.02 million shares. After closing at $0.8700, the stock plunged down to $0.7578 in the following aftermarket session.

    IDRA and its movement

    The clinical-stage biopharmaceutical company Idera Pharmaceuticals Inc. has a market capitalization of $46.46 million. Currently, the company has 52.8 million shares outstanding in the market.

    In the past five days, the stock has gained 4.82% and 14.96% in the last month. Moreover, IDRA has subtracted 15.53% in the past three months and 76.29% year to date.

    Currently, the stock is trading in the red as the investors were not happy with the updates of tilsotolimod.

    Tilsotolimod Updates

    As per Tuesday’s updates, ILLUMINATE-206 study’s one patient experienced Stable Disease (SD) and the rest seven Progressive Disease (PD). Moreover, one patient experienced pseudo-progression. This means that a decrease followed the initial increase from baseline in overall tumor burden. Further, the safety profile in this safety cohort was consistent with the previous cohort and studies.

    IDRA’s ILLUMINATE-206 is a phase 2, open-label, multi-cohort study of tilsotolimod for the treatment of solid tumors. It studies the efficacy and safety of tilsotolimod in combination with ipilimumab and nivolumab.

    Currently, no further enrollment is planned for the ILLUMINATE-206 study.

    Supply of tilsotomod to AbbVie

    IDRA is working in collaboration with AbbVie Inc. for the provision of tilsotolimod. AbVie is using the tilsotolimod with its own ABBV-368 and other combinations for the treatment of head and neck squamous cell carcinoma. For this purpose, AbVie is conducting a Phase 1b study, under which patient treatment and follow-up are ongoing.

    IDRA’s Financial Highlights

    On November 08, IDRA announced its financial results for the third quarter of 2021. As per the Q3 of 2021, the R&D expenses and G&A expenses were $3.5 million and $2.3 million respectively. This compares to $4.8 million and $2.7 million in the third quarter of 2020.

    Moreover, the net loss was $6.0 million in the third quarter of 2021, against $20.6 million in the year-ago quarter. Consequently, the net loss per basic and diluted share was $0.11 in the Q3 of 2021. This compares to $0.59 in the third quarter of 2020.

  • How The Idera (IDRA) Stock Jumped 5%?

    Idera Pharmaceuticals Inc. (IDRA) shares last traded at $1.22 in after-hours trading, rising 5.17%. IDRA’s stock closed at $1.16 the last session, declining -5.69% or $0.07. The stock fluctuated between $1.16 and $1.23 throughout the day. Shares were exchanged for 1.12 million, less than their 50-day volume of 1.48 million or their year-to-date volume of 2.15 million.

    Its stock has gone down -11.45% over the past one week and declined -37.97% in the past year. A total of -75.05% has been lost over the last six months and a total of -41.41% over the last three months. As the IDRA stock rose in absence of current news, we can then point to recent developments to provide a more thorough understanding of IDRA.

    Developments recently occurred at IDRA?

    In its lead development program, Idera works with early immunotherapy researchers and leverages its experience creating proprietary immunology platforms to prime the immune system to fight cancer more effectively with the goal of ultimately treating more people with immunotherapy. As part of its continued focus on oncology and rare disease drug candidates, Idera also continues to acquire, develop, and commercialize drugs for populations with small, well-defined patient populations with unmet needs.

    Recently, Idera announced that it would no longer be pursuing ILLUMINATE-301 and also provided a corporate update.

    • The purpose of that study was to compare tilsotolimod with ipilimumab versus ipilimumab alone in patients with anti-PD-1 refractory advanced melanoma, and to determine its overall survival (OS).
    • In March 2021, IDRA reported the trial failed to meet its primary endpoint of objective response rate (ORR).
    • IDRA will publish the complete results from study in the near future.
    • IDRA has reviewed the full data set for ILLUMINATE-301 and consulted with our Study Steering Committee and Bristol Myers Squibb (BMS) regarding the next steps for the trial since receiving the disappointing ORR results.
    • Vincent Milano, chief executive officer of Idera, stated, We are of the opinion that the combined use of both tilsotolimod and ipilimumab is unlikely to achieve a statistically significant improvement in OS over either drug alone. All the patients and investigators deserve my personal thanks for their efforts.
    • Milano said that IDRA’s ILLUMINATE-206 is still enrolling and treating patients.
    • In this Phase 2 study, IDRA’s tilsotolimod is paired with BMS’ nivolumab and ipilimumab.
    • In this trial, AbbVie will receive a study drug that will support their study for patients with squamous cell carcinoma of the head and neck and for patients with Microsatellite-stable colorectal cancer.
    • IDRA is actively identifying and securing new assets for development or commercialization, Mr. Milano stated, as the company looks to the future.
    • The IDRA team has a proven track record and is passionate about helping patients, which can be beneficial in developing promising compounds.

    Management changes:

    IDRA also announced that Elizabeth Tarka, M.D., Chief Medical Officer for the Company since July 2019, will depart the Company on May 28, 2021. Tarka will continue to serve as a consultant to Idera (IDRA). According to Mr. Milano, Liz helped IDRA deliver ILLUMINATE-301 and has contributed to many other initiatives over the past two years.

  • Idera Pharmaceuticals Inc. (IDRA) stock plummeted after melanoma candidate failure

    Idera Pharmaceuticals Inc. (IDRA) stock plummeted after melanoma candidate failure

    Idera Pharmaceuticals Inc. (IDRA) Stock Plummeted in the after-hours session on Thursday, March 19, 2021, the stock went 62.57% down in the after-hours session. 

    On March 18, 2021, IDRA announced that the ILLUMINATE-301 trial of tilsotolimod in combination with ipilimumab did not meet its primary endpoint of objective response rate (ORR). The results showed an ORR of 8.8% for the combination arm and 8.6% for ipilimumab alone. It could only achieve a disease control rate of 34.5% for the combination and 27.2% for ipilimumab alone.

    The results took the IDRA stock to rock bottom in the after-hours trading.

    Recent Financial Results

    On March 1, 2021, IDRAreported its financial results for the fourth quarter and year ended December 31, 2020.

    Fourth Quarter Financial highlights

    • IDRA spent $5.1 million in Research and development expenses for the three months ended December 31, 2020, compared to $8.4 million for the same period in 2019
    • General and administrative expenses for the reported quarter totaled $2.9 million compared to $3.4 million for the same period in 2019.
    • IDRA stock suffered a net loss of $76.7 million or $2.11 per basic and diluted share for the reported quarter compared to a net loss of $51.3 million, or $1.76 per basic and diluted share, for the same period in 2019.

    The whole Year 2020 highlights

    • Idera Pharmaceuticals spent $24.8 million in Research and development expenses for the year 2020, compared to $34.9 million for the previous year.
    • General and administrative expenses for the year ended December 31, 2020, totaled $11.9 million compared to $12.5 million for the same period in 2019.
    • IDRA stock suffered a net loss of $112.7 million or $3.33 per basic and diluted share for full-year 2020, compared to a net loss of $84.6 million, or $2.96 per basic and diluted share, for the prior year.
    • IDRA had cash, cash equivalents, and short-term investments of $37.7 million as of December 31, 2020.

    About IDRA

    Idera is a clinical-stage biotechnology company focused on taking the next step in immuno-oncology therapies. IDRA was founded in 1989 and is based in the USA. IDRA stock designed and developed tilsotolimod, an investigational Toll-like receptor nineagonists, to treat advanced solid tumors.

    Conclusion:

    There is no doubt that IDRA is facing a tough time as their trial results were a disappointment, and its recent financial results were not attractive. Idara stock can go further down today as IDRA stock announced the trial results late yesterday.

  • Daniel Soland to permanently join Idera Pharmaceuticals, Inc. (IDRA) as Chief Operating Officer

    Daniel Soland to permanently join Idera Pharmaceuticals, Inc. (IDRA) as Chief Operating Officer

    Idera Pharmaceuticals, Inc. (Nasdaq: IDRA) has confirmed that that Daniel Soland, who has has been involved with Idera as a consultant is set to join the Company on January 4, 2021, at the positions of Senior Vice President and COO. In his position as COO, as Idera plans to excel in expecting results from its cornerstone trial, ILLUMINATE-301, which is currently anticipated in the first quarter of 2021, he will be responsible for commercial planning and production.

    In the biotechnology industry, Mr. Soland is a seasoned leader. Most lately, he served as the CEO of uniQure N.V and before that  Senior Vice President & COO of ViroPharma Inc., While overseeing the commercial, engineering, and performance departments at ViroPharma. Mr. Soland helped develop the business infrastructure of the firm in the U.S., Europe, and Canada, and oversaw the launching of Cinryze, one of the most popular U.S. ultra-orphan drug launches.

    Mr. Soland also served as Chairman and CEO of Epigenesis Pharmaceuticals from 2002 to 2005. Earlier in his career, he served as Vice President and Director, Worldwide Marketing Operations, GSK Biologicals and with GlaxoSmithKline. Mr. Soland completed his Bachelors of science From the University of Iowa in Pharmacy.

    Idera has also revealed that the Senior Vice President of Business Growth and Strategic Planning, Clayton Fletcher, will depart at the end of 2020. Mr. Fletcher still will retain the position to lead business development activities as a consultant with the Group.

    In February 2015, Mr. Fletcher joined Idera and his job was overseeing the market growth, portfolio management, planning, and business operations activities of the firm.