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Idera Drug Falls Short in Phase 2

Xconomy Boston — 

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.