On Friday, Shares of Idera Pharmaceuticals Inc (NASDAQ:IDRA), added 2.45 % and closed at $1.88 in the last trading session. The last trading range of the stock ranges between $1.80 and $1.98. Idera Pharmaceuticals, Inc. (IDRA), a clinical-stage biopharmaceutical company developing toll-like receptor and RNA therapeutics for patients with cancer and rare diseases, is reporting translational data supporting the mechanism of action of intratumoral IMO-2125, a Toll-like receptor (TLR) 9 agonist from the ongoing Phase 1 dose escalating clinical trial. In this trial, IMO-2125 is being evaluated in combination with ipilimumab for treatment of patients with metastatic melanoma with disease that is refractory to anti-PD-1 inhibitors, and have minimal options and low expectation of clinical response with ipilimumab treatment alone. Taken together, the formerly stated early clinical responses and the supporting mechanism of action translational data being presented recently, indicate that intratumoral IMO-2125 is a potent agent for the stimulation of the tumor microenvironment.
Ionis Pharmaceuticals Inc (NASDAQ:IONS), jumped 3.96 % and closed at $42.57 in the last trading session. The last trading range of the stock ranges between $39.50 and $42.75. The company’s Market capitalization is $5.35 Billion with the total Outstanding Shares of 121.20 million. Ionis Pharmaceuticals, Inc. (IONS) recently stated income from operations of $16.1 million and a loss from operations of $87.5 million for the three and nine months ended September 30, 2016, respectively. The Company also stated pro forma operating income of $33.7 million and a pro forma net operating loss (NOL) of $30.5 million, both apart from non-cash stock compensation, for the same periods. Ionis ended the third quarter with cash, cash equivalents and short term investments of $687.8 million. The Company is on track to meet its pro forma NOL and cash guidance for the year.