Idera Pharmaceuticals Announces Closing of Public Offering of Common Stock and Pre-Funded Warrants
September 30 2013 - 4:14PM
Business Wire
Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) (“Idera” or, the
“Company”) today announced the closing of its previously announced
underwritten public offering of 13,727,251 shares of common stock,
and pre-funded warrants to purchase up to an aggregate of 4,175,975
shares of common stock. The gross proceeds to Idera from this
offering are expected to be approximately $27.7 million, before
deducting the underwriting discounts and commissions and other
estimated offering expenses payable by Idera and excluding the
proceeds, if any, from the exercise of the pre-funded warrants.
Piper Jaffray & Co. acted as sole manager for the
offering.
The offering was made pursuant to a shelf registration statement
previously filed with and declared effective by the Securities and
Exchange Commission (the “SEC”) on September 18, 2013. Copies of
the final prospectus relating to the offering may be obtained from
the Securities and Exchange Commission website at
http://www.sec.gov, or from the underwriters at Piper Jaffray &
Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN 55402, via telephone at 800-747-3924 or email at
prospectus@pjc.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of Idera’s securities. No
offer, solicitation or sale will be made in any jurisdiction in
which such offer, solicitation or sale is unlawful.
About Idera Pharmaceuticals, Inc.
Idera's technology platform involves creating novel synthetic
RNA- and DNA-based compounds to modulate immune responses. Idera
has applied this platform to develop proprietary Toll-like receptor
(TLR) antagonists as immunomodulatory drug candidates. Toll-like
receptor antagonists block the overactivation of immune factors
which can cause a range of pathological effects. Idera is
conducting clinical development of TLR antagonists in autoimmune
and inflammatory diseases, and preclinical development of their use
in certain genetically defined forms of B-cell lymphoma. More
information on Idera is available at iderapharma.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical fact,
included or incorporated in this press release, including
statements regarding the Company’s strategy, future operations,
collaborations, intellectual property, cash resources, financial
position, future revenues, projected costs, prospects, plans, and
objectives of management, are forward-looking statements. The words
“believes,” “anticipates,” “estimates,” “plans,” “expects,”
“intends,” “may,” “could,” “should,” “potential,” “likely,”
“projects,” “continue,” “will,” and “would” and similar expressions
are intended to identify forward-looking statements, although not
all forward-looking statements contain these identifying words.
Idera cannot guarantee that it will actually achieve the plans,
intentions or expectations disclosed in its forward-looking
statements and you should not place undue reliance on the Company’s
forward-looking statements. There are a number of important factors
that could cause Idera’s actual results to differ materially from
those indicated or implied by its forward-looking statements.
Factors that may cause such a difference include: whether Idera’s
cash resources will be sufficient to fund its continuing operations
and the further development of the Company’s programs; whether
results obtained in early research, preclinical studies and
clinical trials will be indicative of the results that will be
generated in future clinical studies; whether products based on
Idera’s 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 Company’s products receive
approval, they will be successfully distributed and marketed;
whether Idera will be able to enter into collaborations that will
advance the development of its compounds for autoimmune disease
indications; and such other important factors as are set forth
under the caption “Risk Factors” in the Company’s Quarterly Report
on Form 10-Q and the Current Report on Form 8-K that was filed on
September 24, 2013. Although Idera may elect to do so at some point
in the future, the Company does not assume any obligation to update
any forward-looking statements and it disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
Idera Pharmaceuticals, Inc.Lou Arcudi,
617-679-5517larcudi@iderapharma.com
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