Idera Pharmaceuticals (Nasdaq: IDRA) has initiated a private placement with institutional investors, raising $5.1 million through the sale of common stock and warrants. The purchase price per share is $1.845, with warrants exercisable at $2.58. Investors have the option for a second tranche of $5.1 million, contingent on the announcement of data from the ILLUMINATE-301 trial, with a purchase price of $6.50 per share and warrants at $9.75. The proceeds will support the clinical development of tilsotolimod and general corporate purposes.
Idera Pharmaceuticals (Nasdaq: IDRA) announced preliminary data from ILLUMINATE-206, a Phase 2 study evaluating tilsotolimod combined with Opdivo® and Yervoy® for MSS-CRC patients. The initial cohort of 10 patients exhibited a generally well-tolerated safety profile; no treatment discontinuations occurred due to adverse events. One patient showed stable disease, while nine progressed. Idera plans to enhance the trial design and expand patient enrollment, targeting the next cohort's start in Q4 2020 and data release in Q2 2021.
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