ARTICLE | Financial News

Idera raises $75M in follow-on

February 14, 2015 2:03 AM UTC

Idera Pharmaceuticals Inc. (NASDAQ:IDRA) raised $75 million through the sale of 20 million shares at $3.75 in a follow-on underwritten by Goldman Sachs; JPMorgan; and Piper Jaffray. Idera proposed the offering after market close on Feb. 9 when its shares were $4.05. The company lost $0.14 to $4.10 on Friday.

The company expects data in 4Q15 from a Phase I/II trial of IMO-8400 to treat Waldenstrom's macroglobulinemia, for which it has Orphan Drug designation. ...