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Idera Pharmaceuticals (IDRA) Prices Public Offering of Common Stock at $2 per Share

Company: Idera Pharmaceuticals, Inc. (IDRA)
Category: Analyst Alerts

Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) priced an underwritten public offering of 25 million shares of its common stock at $2.00 per share in a news release issued this morning. Underwriters participating in the offering are granted a 30-day option to purchase up to an additional 3,750,000 shares of common stock, with all shares in the offering being sold by Idera. Gross proceeds from this offering are expected to total roughly $50 million before underwriting discounts and commissions and other offering expenses. The company plans to use the net proceeds from this offering, along with its existing cash and cash equivalents, to fund the advancement of a selection of its clinical development programs. The offering is expected to close on or about October 13, 2016, subject to customary closing conditions.

To view the full press release, visit: http://nnw.fm/25jFX

About Idera Pharmaceuticals, Inc.

Idera Pharmaceuticals is a clinical-stage biopharmaceutical company developing novel nucleic acid-based therapies for the treatment of certain cancers and rare diseases. Idera’s proprietary technology involves using a TLR-targeting technology, to design synthetic oligonucleotide-based drug candidates to act by modulating the activity of specific TLRs. In addition to its TLR programs, Idera has created a third generation antisense technology platform using its proprietary technology to inhibit the production of disease-associated proteins by targeting RNA. For more information, visit www.IderaPharma.com

About NetworkNewsBreak

NetworkNewsBreak is a rapid summary of a press release that caught the attention of NetworkNewsWire (NNW). NNW provides news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of journalists and writers, NNW is uniquely positioned to best serve private and public companies who need to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing network of more than 5,000 key distribution outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge. For more information, visit https://www.NetworkNewsWire.com.

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