CAMBRIDGE, Mass.--(BUSINESS WIRE)--May. 7, 2013--
Idera Pharmaceuticals (NASDAQ: IDRA) announced today the closing of its
previously announced $16.5 million underwritten public offering of (i)
17,500,000 shares of common stock and related warrants to purchase up to
17,500,000 shares of common stock at an exercise price of $0.47 per
share, and (ii) pre-funded warrants to purchase up to 15,816,327 shares
of common stock at an exercise price of $0.01 per share and related
warrants to purchase up to 15,816,327 shares of common stock at an
exercise price of $0.47 per share. The gross proceeds to Idera
Pharmaceuticals from this offering were $16.5 million, before deducting
underwriting discounts and commissions and other estimated offering
expenses payable by Idera and excluding the proceeds, if any, from the
exercise of warrants.
Idera anticipates using the net proceeds from the offering to fund a
planned Phase 2 clinical trial of IMO-8400 in patients with psoriasis,
and for working capital and general corporate purposes.
Piper Jaffray & Co. acted as sole manager for the offering.
This offering was made pursuant to a final prospectus relating to the
offering that was filed with the SEC on May 2, 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 Pharmaceuticals’
securities. No offer, solicitation or sale of will be made in any
jurisdiction in which such offer, solicitation or sale is unlawful.
Source: Idera Pharmaceuticals, Inc.
Idera Pharmaceuticals, Inc.
Lou Arcudi, 617-679-5517
larcudi@iderapharma.com
