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Idera Pharmaceuticals Up 14 Percent Monday- Why? (IDRA)

7544735974_1c5eb77371_zShares of Idera Pharmaceuticals,  (NASDAQ: IDRA) are up more than 14 percent Monday after the company announced second quarter earnings that pleased the street.

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The company reported a second-quarter EPS loss of $(0.15) versus the estimated loss of $(0.12), missing by $0.03 but higher by 57 percent year over year. More bullish to investors, Idera also announced that it had $16.3 million in cash that would allow it to complete Phase 2 trials of IMO-8400. On July 1, we reported the positive results of Phase 1 trials of IMO-8400 that sent the stock higher. (Read that story here)

Also reported were positive data from IMO-3100 for patients with moderate-to-severe plaque psoriasis. The phase 2 trial revealed that it was well tolerated and showed up to a 90 percent improvement from the baseline.

Over the past three months, investors have bid the stock up more than 120 percent on a continuous string of positive data and the idea that the $78 million company with a promising pipeline is a prime takeover target.

Company Profile:

Idera Pharmaceuticals, Inc., a clinical stage biotechnology company, engages in the discovery and development of novel synthetic DNA- and RNA- based drug candidates. It is developing drug candidates designed to modulate immune responses mediated through Toll-like Receptors (TLRs); and evaluating gene silencing oligonucleotides (GSOs), which inhibit the production of disease-associated proteins by targeting RNA. The company focuses on developing products for the treatment of autoimmune and inflammatory diseases. Its autoimmune and inflammatory disease programs include IMO-3100, an antagonist of TLR7 and TLR9, which has completed Phase II clinical trials for the treatment of psoriasis; and IMO-8400, an antagonist of TLR7, TLR8, and TLR9 that is in Phase I clinical trials for the treatment of psoriasis/lupus. (read more at Yahoo! Finance)

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Disclosure: At the time of this writing, the author had no position in the company mentioned.

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