Idera Pharmaceuticals, Inc. (IDRA) Posts Q1 Loss of 12c/Share

Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) reported Q1 EPS of ($0.12), $0.04 worse than the analyst estimate of ($0.08).

“We believe we have made tremendous progress in 2014 based on the foundation we built in 2013. During this year, we initiated clinical development of IMO-8400 in Waldenström’s macroglobulinemia and in diffuse large B-cell lymphoma (DLBCL) patients harboring the MYD88 L265P mutation. We look forward to progressing IMO-8400 in clinical trials for these indications,” said Sudhir Agrawal, D. Phil., Chief Executive Officer of Idera Pharmaceuticals. “In addition, our strategic assessment of orphan autoimmune diseases has led us to identify graft-versus-host disease (GvHD), polymyositis, and dermatomyositis as the initial prioritized disease indications for clinical development of our TLR antagonist candidates.”

Dr. Agrawal continued, “To support the clinical development of our pipeline of candidates and technology platforms, we strengthened the management team in key areas with the addition of Lou Brenner, M.D., as Senior Vice President and Chief Medical Officer; Kate Haviland as Vice President Rare Diseases; Joe Lobacki as General Manager of Oncology; Walter Strapps, Ph.D., as Executive Director of RNA Therapeutics; and Nancy Wyant as Vice President of Clinical Operations. Our new team members bring extensive biopharmaceutical industry expertise and the skills which would enable us to advance our pipeline to commercialization. We are very pleased to have them on board.”

For earnings history and earnings-related data on Idera Pharmaceuticals, Inc. (IDRA) click here.

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