Idera Pharmaceuticals, Inc. (IDRA) jumped 18% on 09/11/17: This is why

Idera Pharmaceuticals, Inc. (IDRA) Entry level: 2.25 | Exit level: 2.38 | Stop level: 2.13  jumped 18% as a result of Bullish news signal: Idera Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company developing toll-like receptor and RNA therapeutics for patients with rare cancers and rare diseases, today announced final results from the dose-selection phase of an ongoing Phase 1/2 trial investigating IMO-2125, Idera’s intratumorally-delivered Toll-like Receptor (TLR) 9 agonist, in combination with ipilimumab (Yervoy®), manufactured by Bristol-Myers Squibb.

The IMO-2125-ipilimumab dose-selection phase included 18 patients, all but one of whom had progressed on nivolumab or pembrolizumab.  Patients were treated with up to 6 doses of intratumoral IMO-2125 at doses ranging from 4 to 32 mg, along with standard dosing of ipilimumab.  No dose-limiting toxicities were seen and the maximum tolerated dose (MTD) was not reached.  No previously unreported immune-related toxicities were observed.  The 8 mg IMO-2125 dose was selected for further development in combination with ipilimumab based upon acceptable safety, clinical activity, and evidence for target engagement on serial biopsies of the injected tumor and a distant (non-injected) metastasis.

finviz dynamic chart for  idra

“The majority of patients with solid tumors do not respond to anti-PD-1 therapy and the published response rate to ipilimumab alone in anti-PD-1 refractory melanoma is only10-13%; to be seeing 6 out of 9 patients experiencing clear disease control is extremely exciting,” stated Adi Diab, M.D., Lead Trial Investigator, Assistant Professor, Department of Melanoma Medical Oncology, Division of Cancer Medicine, University of Texas, MD Anderson Cancer Center.

“Based on these positive and encouraging response data in anti-PD-1 refractory melanoma, where the greatest need exists, we have expanded the target number of patients in the ongoing Phase 2 expansion, including broadening eligibility to patients who have received prior ipilimumab,  including the ipilimumab/PD-1 inhibitor combination,” stated Joanna Horobin, M.B., Ch.B., Idera’s Chief Medical Officer.  “We plan to start a Phase 3 trial in patients with PD-1 refractory melanoma in the first quarter of 2018.  Preparations are well-underway for this global initiative which is addressing a major unmet need in melanoma. We are very encouraged by the enthusiasm of investigators to participate in the Phase 3 study.”

The published response rate among melanoma patients that progress after treatment with PD-1 inhibitors is between 10% and 13%. This is why investors were pleased to see that adding IMO-2125 to Yervoy shrank tumors in six of nine patients treated with the 8 mg dosage that will be used in the next part of the trial.

PR Newswire 

Explanation:

Why Bullish? The Company Plans to Initiate Phase 3 Trial in First Quarter 2018.  The stock has been impacted by the bullish news and jumped by 18%. It is very common that these type of news (i.e. positive clinical trial results) will impact the stock in a bullish manner. Therefore, we provide this stock a  short-term bullish signal

 

  Jordan Mizrahi

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