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.
Copyright Business Wire 2013