Attached files
file | filename |
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8-K - FORM 8-K - IDERA PHARMACEUTICALS, INC. | b81974e8vk.htm |
EX-4.1 - EX-4.1 - IDERA PHARMACEUTICALS, INC. | b81974exv4w1.htm |
EX-5.1 - EX-5.1 - IDERA PHARMACEUTICALS, INC. | b81974exv5w1.htm |
EX-1.1 - EX-1.1 - IDERA PHARMACEUTICALS, INC. | b81974exv1w1.htm |
EX-10.1 - EX-10.1 - IDERA PHARMACEUTICALS, INC. | b81974exv10w1.htm |
Exhibit 99.1
Idera Pharmaceuticals to Raise $15 Million in Registered Direct Offering
CAMBRIDGE, Mass., Aug 02, 2010
Idera Pharmaceuticals (Nasdaq: IDRA) today announced that it has received commitments from certain
institutional investors to purchase approximately $15 million of securities in a registered direct
offering. Idera expects to receive net proceeds of approximately $14.2 million after deducting
placement agent fees and other offering expenses.
In the offering Idera has agreed to sell approximately 4.0 million units, each unit consisting of
one share of common stock and a warrant to purchase 0.40 of a share of common stock. The units will
be sold at a price of $3.71, which price was calculated based on the closing bid price of the
Companys common stock on July 30, 2010. The warrants will be exercisable at a price of $3.71 per
share beginning immediately and will expire five years from the date that the warrants are issued.
The offering is expected to close by August 5, 2010, subject to customary closing conditions.
Idera intends to use the net proceeds from the transaction for general corporate purposes including
continuing to fund clinical development of IMO-2125, a TLR9 agonist, currently in two Phase 1
trials for the treatment of Hepatitis C Virus infection and IMO-3100, a TLR 7/9 antagonist
currently in Phase 1 trials for the treatment of autoimmune and inflammatory diseases, and other
preclinical candidates targeted to Toll-like receptors.
Rodman & Renshaw LLC, a subsidiary of Rodman Capital Group Inc. (Nasdaq: RODM) acted as the sole
placement agent for the transaction.
The securities described above are being offered pursuant to a registration statement previously
filed with and declared effective by the Securities and Exchange Commission (SEC). This press
release shall not constitute an offer to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus
supplement and accompanying base prospectus relating to this offering may be obtained at the
Securities and Exchange Commissions website at http://www.sec.gov or by request at info@rodm.com.
About Idera Pharmaceuticals
Idera Pharmaceuticals develops drug candidates to treat infectious diseases, autoimmune and
inflammatory diseases, cancer, and respiratory diseases, and for use as vaccine adjuvants. Our
proprietary drug candidates are designed to modulate specific Toll-like Receptors, which are a
family of immune system receptors that direct immune system responses. Our DNA and RNA chemistry
expertise enables us to create drug candidates for internal development and generates opportunities
for multiple collaborative alliances.
Idera Forward Looking Statements
This press release contains forward-looking statements concerning Idera Pharmaceuticals, Inc. that
involve a number of risks and uncertainties. For this purpose, any statements contained herein that
are not statements of historical fact may be deemed to be forward-looking statements. Without
limiting the foregoing, the words believes, anticipates, plans, expects, estimates,
intends, should, could, will, may, and similar expressions are intended to identify
forward-looking statements. There are a number of important factors that could cause Ideras actual
results to differ materially from those indicated by such forward-looking statements, including;
whether products based on Ideras technology will advance into or through the clinical trial
process on a timely basis or at all and receive approval from the United States Food and Drug
Administration or equivalent foreign regulatory agencies; whether, if the Companys products
receive approval, they will be successfully distributed and marketed; whether the Companys
collaborations with Merck KGaA and Merck Sharp & Dohme Corp., will be successful; whether the
patents and patent applications owned or licensed by the Company will protect the Companys
technology and prevent others
from infringing it; whether Ideras cash resources will be sufficient to fund the Companys
operations; and such other important factors as are set forth under the caption Risk Factors in
Ideras Quarterly Report on Form 10-Q for the three months ended March 31, 2010, which important
factors are incorporated herein by
reference. Idera disclaims any intention or obligation to update any forward-looking statements.
Idera Pharmaceuticals, Inc.
Louis J. Arcudi, III, 617-679-5500
larcudi@iderapharma.com
or
MacDougall Biomedical Communications
Chris Erdman, 781-235-3060
cerdman@macbiocom.com
Louis J. Arcudi, III, 617-679-5500
larcudi@iderapharma.com
or
MacDougall Biomedical Communications
Chris Erdman, 781-235-3060
cerdman@macbiocom.com