Idera Pharma: Falls on discontinuing cancer treatment trial

Aceragen

18/05/2021 21:57

** Shares of drug developer  IDRA.O  fall 1.8% to $1.04 in
extended trading
    ** Co says it will discontinue late-stage trial of its
experimental cancer treatment, tilsotolimod(https://refini.tv/3bBFm57)
    ** The trial, which was evaluating one of the main goals of
overall survival, was testing tilsotolimod in combination with
Bristol-Myers Squibb's  BMY.N  drug ipilimumab as a potential
treatment for a type of skin cancer 
    ** Decision was made after full data analysis showed there
was no likelihood that the combination of tilsotolimod with
ipilimumab would show a statistically significant overall
survival benefit after patients complete the treatment - IDRA
    ** In March, IDRA said the trial did not meet one of the
other main goals of objective response rate  urn:newsml:reuters.com:*:nL4N2LH2O1
    ** Current avg. on stock is "hold"; median PT is $1.00-
Refinitiv IBES
    ** Stock down ~71% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))