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Idera Pharmaceuticals Inc Announces Closing Of Common Share Offering


Tuesday, 7 May 2013 04:15pm EDT 

Idera Pharmaceuticals Inc announced the closing of its previously announced $16.5 million underwritten public offering of (i) 17,500,000 shares of common stock and related warrants to purchase up to 17,500,000 shares of common stock at an exercise price of $0.47 per share, and (ii) pre-funded warrants to purchase up to 15,816,327 shares of common stock at an exercise price of $0.01 per share and related warrants to purchase up to 15,816,327 shares of common stock at an exercise price of $0.47 per share. The gross proceeds to Idera Pharmaceuticals from this offering were $16.5 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Idera and excluding the proceeds, if any, from the exercise of warrants. Idera anticipates using the net proceeds from the offering to fund a planned Phase 2 clinical trial of IMO-8400 in patients with psoriasis, and for working capital and general corporate purposes. Piper Jaffray & Co. acted as sole manager for the offering. 

Company Quote

2.85
0.23 +8.78%
11 Jul 2014