Idera Pharmaceuticals Presents a Promising Opportunity
With the end of 2013 approaching, many will likely spend the holidays rejoicing with their loved ones, especially since their portfolios probably generated massive returns. As we look ahead to 2014, it’s a good time to start thinking about potential stocks that could continue to surge higher. One company that appears ripe for success is Idera Pharamceuticals (NASDAQ:IDRA). Shares of Idera have soared by more than 400 percent over the past four months on several positive developments. Idera Pharamceuticals is a clinical stage biotechnology company developing a novel approach to the treatment of autoimmune diseases and certain genetically defined forms of B-cell lymphoma. Idera’s technology platform is based on nucleic acid therapeutics designed to inhibit over-activation of Toll-like receptors.
The company is conducting clinical development of TLR antagonists in autoimmune and inflammatory diseases, and preclinical development of their use in certain genetically defined forms of B-cell lymphoma. TLR’s are proteins whose activation plays a significant part in autoimmune diseases and forms of B-cell lymphoma where the MYD88 L265P genetic mutation is present. To prevent the over-activation of these proteins, Idera Pharmaceuticals has developed IMO-8400. In early clinical trials, IMO-8400 has shown the ability to stop processes that lead to disease progression. The company’s current pipeline includes the following:
- IMO-8400 — Phase 2 Trial for moderate-to-severe plaque psoriasis
- IMO-8400 — Phase 1 & 2 Trial for Waldenstrom’s macroglobulinemia
- IMO-9200 — IND-enabling studies for select autoimmune diseases
- B-cell Lymphoma Program — Update Expected in 1Q 2014
As investors can see, Idera Pharmaceuticals appears to be developing a healthy pipeline of multiple candidates for the treatment multiple indications. This is one of the signs of a promising biotechnology company. It also appears that several major funds in the biotechnology industry appear to be taking notice. In fact, one of the most successful biotechnology investment funds in the world, added to their position during the prior quarter. That fund is called the Baker Brothers.