logo  
Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?

Register
    

Idera Pharmaceuticals (IDRA) Plunges on Negative Summer Street Review of Lead Therapy

By  +Follow March 24, 2014 3:09AM
Share:
Tickers Mentioned:

In an off day across the biotech segment, small-cap pharmaceutical company Idera Pharmaceuticals (IDRA) saw its shares get hammered to the tune of a 25 percent or more loss on Monday. Driving the losses was a negative report from Summer Street Research Partners on Idera’s lead therapy, IMO-8400, that said the drug was unimpressive and expected to fail.

Shares opened at $5.70 apiece, down 6 percent from Friday’s close, but shares started to plunge significantly along with the rest of the market, falling to under $4.70 a share in the first 15 minutes of trading action. The stock made brief recoveries twice only to fall even further each time, hitting lows of $4.51 a share for a loss of more than 25 percent.

IMO-8400 is a DNA-based compound being developed for treatment of B-cell lympyhoma and autoimmune diseases by disrupting the biological process of the disease. From the company’s website:

“The Company’s lead candidate, IMO-8400, has a novel mechanism of action as an antagonist to Toll-like receptors (TLR) 7, 8, and 9. Toll-like receptors are proteins whose activation plays a key role in both autoimmune diseases and forms of B-cell lymphoma where the MYD88 L265P genetic mutation is present, including Waldenström’s macroglobulinemia (WM) and activated B-cell-like diffuse large B-cell lymphoma (ABC-DLBCL). Treatment with IMO-8400 blocks over-activation of these TLRs, and interrupts the processes that lead to disease progression.”

IMO-8400 is currently conducting a 32-patient phase II clinical trial that began in September of last year. Idera is also developing IMO-9200 as its second novel antagonist for treating certain autoimmune diseases and should begin clinical trial in the second half of the year.

Some key technical factors may have influenced the size of Idera’s sell off. Most notably, the stock’s stachostic RSI, a key technical factor, had reached 1.00 on Friday. Any reading above 0.80 is typically viewed as a sign that the stock could be overbought.

It has been a strong year so far for Idera, with the stock trading in an upchannel that had shares up over 30 percent in 2014 prior to Monday’s losses. It was the peak of a one-year period in which Idera had been a 10-bagger, increasing by more than 1,000 percent in that period.

Today’s action saw shares cross both the 20-day and 50-day SMA from above as well as breaking through a rising support level at just over $5 a share that had appeared to bolster the confidence of investors since forming in mid-November.

 

 

Editor's note: this article had previously referred to Summer Street Research Partners as Summer Street Capital, a separate and unafilliated company. It has been edited to correct this mistake.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


Liked What You Read? Join Equities.com and Connect With Your Favorite Financial Experts FOR FREE! Members of Equities.com gain access to our leading financial news and content, active social investment community, proprietary research tools including the 2014 Small-Cap Stars, E.V.A. reports and more.

Results for IDRA
Stockaholics
16 Sep 14 01:00:33
$AZFL Gained 68.2% In Just 3 Days, After Our Penny Stock Alert! Huge Update: http://t.co/f6EXGyxEe9 $QCOR $FCEL $IDRA
Stockaholics
15 Sep 14 18:40:46
Our SECRET Alert on $INOH Closed Up 60% For Platinum Members Today! Major News: https://t.co/HzD6J3YtmW $QCOR $FCEL $IDRA
Stockaholics
15 Sep 14 15:21:33
Our SECRET Alert on $INOH Closed Up 60% For Platinum Members Today! Major News: https://t.co/HzD6J3YtmW $QCOR $FCEL $IDRA
work1411
15 Sep 14 13:24:14
@BioInvestor2013 Been watching $OPXA $OXGN $VICL $IDRA $BIOD $GERN- all been going cheaper & struggling. No entry yet.
US_proptrader
15 Sep 14 12:03:39
$AVNR $CRK $GRUB $HK $IDRA $IPI $RCPT $SPLS $TPLM autocharts @ http://t.co/hj7PGeTQk3
Stockaholics
15 Sep 14 11:50:00
$DKAM Shot Up 150% And Has Seen Over 400 MILLION Volume Today! Huge News: http://t.co/PmkoXscmSi $QCOR $FCEL $IDRA
Stockaholics
15 Sep 14 08:51:36
We just released a major mid-day alert on MLHC! Check it out: http://t.co/zPRXsXfAGO $QCOR $FCEL $IDRA
usasingh1
15 Sep 14 05:52:09
$XOMA results due too by year end I think phase 3 and Bakrs own a lot $AVNR $IDRA
Stockaholics
15 Sep 14 01:40:27
Major New SECRET Penny Stock Pick, Being Released Today! Check this out: http://t.co/VtX7ZDqQih $QCOR $FCEL $IDRA
Stockaholics
14 Sep 14 01:05:03
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $QCOR $FCEL $IDRA
Stockaholics
13 Sep 14 18:24:48
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $QCOR $FCEL $IDRA
Dan
13 Sep 14 15:46:47
$IDRA OI for maturity 09/20/2014. 2.50 Highest put. 3.00 Highest call. http://t.co/NOia5mNE9s
Stockaholics
13 Sep 14 06:34:31
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $QCOR $FCEL $IDRA
Stockaholics
12 Sep 14 12:25:53
$VOIS Surged Up 191.7% In The Past Week! Subscribe to Our Newsletter Alerts: http://t.co/XkL8Re7uuZ $QCOR $FCEL $IDRA
Stockaholics
12 Sep 14 02:05:41
$TSPG Is Up 500% In The Past 2 Weeks! Special Update: http://t.co/Uw0BliZuF1 $QCOR $FCEL $IDRA
Stockaholics
11 Sep 14 15:09:21
$VOIS Gained As Much As 64.71% Today! Huge News: http://t.co/GNemSzHkIS $QCOR $FCEL $IDRA
US_proptrader
11 Sep 14 12:34:25
$AMKR $BBRY $CSLT $HIMX $IDRA $ISNS $KERX $RCPT $SQNM autocharts @ http://t.co/hj7PGeTQk3
US_proptrader
11 Sep 14 12:19:26
$BBRY $CSIQ $HZNP $IDRA $IRWD $NDLS $PVA $SPLK $VRA autocharts @ http://t.co/hj7PGeTQk3
Stockaholics
11 Sep 14 11:48:46
$ITNS Gained 168.2% in 5 weeks! Major News: http://t.co/B2Dvcg98oO $QCOR $FCEL $IDRA
OddStockTrader
11 Sep 14 11:20:11
Name I forgot about, but like the consolidation chart is $IDRA
Stockaholics
11 Sep 14 02:14:53
$AZFL Closed up 158.82% Yesterday! Huge Update: http://t.co/lLtAktojHc $QCOR $FCEL $IDRA
Stockaholics
11 Sep 14 01:23:06
$AZFL Closed up 158.82% Yesterday! Huge Update: http://t.co/lLtAktojHc $QCOR $FCEL $IDRA
Stockaholics
10 Sep 14 13:40:39
$CGRA Gained 90.9% in the past week! Huge News: http://t.co/II3xqZNmZg $QCOR $FCEL $IDRA
US_proptrader
10 Sep 14 12:46:09
$COUP $FRAN $GCA $IDRA $KNDI $NVAX $QUNR $TKMR $TSLA autocharts @ http://t.co/hj7PGeTQk3
Stockaholics
10 Sep 14 12:01:24
$CGRA Gained 90.9% in the past week! Huge News: http://t.co/II3xqZNmZg $QCOR $FCEL $IDRA
Daily Contracts
10 Sep 14 10:16:02
Real-Time feed of company contracts, original agreements and executive updates from Idera Pharmaceuticals $IDRA http://t.co/eSs9DV89f0
Daily Contracts
10 Sep 14 06:55:03
Real-Time feed of company contracts, original agreements and executive updates from Idera Pharmaceuticals $IDRA http://t.co/eSs9DV89f0
Stockaholics
10 Sep 14 03:07:25
Platinum Members Saw Penny Stock Picks Gain 4,000% in 4 months! Major New Pick Today: http://t.co/knifTbtAfj $QCOR $FCEL $IDRA
Stockaholics
9 Sep 14 15:20:47
$ALKM shot up 170% Today! New Platinum Pick Coming Tomorrow! Updates: http://t.co/MXWhovJYxe $QCOR $FCEL $IDRA
Stockaholics
9 Sep 14 11:46:23
$ALKM shot up 170% Today! New Platinum Pick Coming Tomorrow! Updates: http://t.co/EQLQpElyNR $QCOR $FCEL $IDRA
Hooligan
9 Sep 14 10:55:37
$IDRA almost at my buy. 2.65
Christian Katczynski
9 Sep 14 10:42:58
Waiting for the perfect entry $IDRA
Hooligan
9 Sep 14 09:08:48
$IDRA Id be a buyer at 2.65
Hooligan
8 Sep 14 18:05:54
$IDRA 2.65 buy tomorrow...
Hooligan
8 Sep 14 17:53:18
Trading focus $ACRX $CNAT & $IDRA this week. IDRA looking like an ONTX & PRAN tech bounce that gave my followers $2
Stockaholics
8 Sep 14 17:28:27
$MHYS Gained 300% In Just 2 Days, so far! Special Blog Update: http://t.co/LWf55QdU4X $QCOR $FCEL $IDRA
Stockaholics
8 Sep 14 11:54:57
$MHYS Gained 300% In Just 2 Days, so far! Special Blog Update: http://t.co/LWf55QdU4X $QCOR $FCEL $IDRA
US_proptrader
8 Sep 14 10:42:49
$BLOX $DGLY $FEYE $FOLD $IDRA $JRJC $SGMS $SGOC $XNET autocharts @ http://t.co/hj7PGeTQk3
WaterMartyr
8 Sep 14 08:59:21
$IDRA out with gains. Not risking anything at this juncture.
				
				
By  +Follow March 24, 2014 3:09AM
Share:

Comments

 

blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.