Life Sciences, pharmaceuticals, Idera Pharmaceuticals

Idera Drug Falls Short in Phase 2

Ryan McBride 10/1/08

Idera Pharmaceuticals (NASDAQ:IDRA), a Cambridge, MA-based biotech firm, reports that results of the first portion of a phase 2 clinical trial of a drug called IMO-2055 in patients with a recurrent form of kidney cancer show the treatment failed to have a desired impact on tumor size. Still, investment firm Rodman & Renshaw analysts maintained their “market perform” rating on Idera, noting that the trial results of IMO-2055 as a stand-alone treatment were not surprising and further studies of the drug in combination with other therapies are in the works.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.