Idera Pharmaceuticals Inc (NASDAQ:IDRA)’s shares rose by 15.64% in Friday’s trading

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Dallas, Texas 11/18/2013 (Financialstrend) – In Friday’s trading session, Idera Pharmaceuticals Inc (NASDAQ:IDRA) rose by 15.64 %. The shares opened at a price of $1.80, which touched the intraday high of $2.25 and headed to a close of $2.07. Around 2.35 million exchanged hands over the trading day and an average volume of 1.41 million shares were traded over a 30 day period. The 52-week low of Idera Pharmaceuticals Inc (NASDAQ:IDRA) shares is $0.19 and its 52-week high is $3.12. The company has a market capitalization of $96.72 million.                                          

About the company

Idera Pharmaceuticals Inc (NASDAQ:IDRA) is a clinical-stage bio-technology company that is involved in the discovery & development of novel synthetic-deoxyribonucleic acid &  ribonucleic acid – based drug candidates. It is developing drug-candidates that are specifically designed to modulate the immune responses that are mediated via Toll-like Receptors. Idera Pharmaceuticals Inc (NASDAQ:IDRA) is also evaluating gene-silencing oligonucleotides. These inhibit production of disease-associated-proteins by targeting the RNA.

In the year that  ended 31 December 2011, Idera Pharmaceuticals Inc (NASDAQ:IDRA) also had a collaboration with Merck Sharp & Dohme, for the use of various agonists of TLRs 7, 8 & 9 as vaccine-adjuvants for cancer, infectious-diseases, & Alzheimer’s disease. In 2011 November Idera Pharmaceuticals Inc (NASDAQ:IDRA) reacquired the rights for IMO-2055 from Merck KGaA, Darmstadt. This was the company’s former collaborator.

Idera Pharmaceuticals Inc (NASDAQ:IDRA) has created different DNA-based compounds. In preclinical studies, these act as antagonists of TLR7 &TLR9, like IMO-3100, or as the antagonists of TLRs 7, 8, &  9, like IMO-8400. Idera Pharmaceuticals Inc (NASDAQ:IDRA) is developing IMO-3100. This is an antagonist of TLR7 & TLR9, for treating psoriasis. The company  has chosen IMO-8400, and the antagonist of TLRs 7, 8, & 9, for development in treating autoimmune diseases. In this lupus is the initial disease indication. IMO-2055- which is a  TLR9 agonist, is the company’s lead drug candidate that is used to treat cancer.

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