Idera: Dives after skin cancer therapy trial fails to meet main goal

Aceragen

18/03/2021 22:27

** Drug developer Idera Pharmaceuticals Inc's shares
 IDRA.O  sink 65.5% to an over eight-month low of $1.77 in
extended trading
    ** Stock is the top pct loser across U.S. exchanges after
market close
    ** IDRA says a late-stage trial testing its drug candidate
tilsotolimod in combination with Bristol-Myers Squibb's  BMY.N 
drug ipilimumab for a type of skin cancer did not meet the main
goal of objective response rate (ORR)  urn:newsml:reuters.com:*:nGNXbBjds5
    ** ORR refers to percentage of patients whose cancer shrinks
or disappears after treatment
    ** Says adverse events occurred in 61.1% of patients who
received the combination vs. 55.1% of patients who received
ipilimumab alone
    ** Co says it is evaluating its next steps regarding
continuation of the trial and that if the study meets another
endpoint, it can chart a potential path forward with regulatory
authorities
    ** IDRA shares have gained about 42% this year, as of last
close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))