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Aceragen, Inc. (formerly Idera Pharmaceuticals) announced key corporate changes including a name change, preferred stock conversion, and a 1-for-17 reverse stock split to regain compliance with Nasdaq listing standards. Stockholders approved these changes, effective January 18, 2023. The company focuses on late-stage clinical assets targeting rare diseases like cystic fibrosis and Farber disease, with significant milestones anticipated in 2023, including data read-outs for ACG-701 and progress on ACG-801. Aceragen also has a partnership with the Defense Threat Reduction Agency for ACG-701 aimed at melioidosis. The company expects its cash reserves to sustain operations into Q3 2023.
Idera Pharmaceuticals reported its Q3 2022 financial results, revealing a pro forma cash position of $26.8 million. The merger with Aceragen is complete, providing funding for advancing its pipeline, including ACG-701 and ACG-801, toward key clinical milestones in 2023. Notably, the company expects to initiate clinical trials for cystic fibrosis and Farber disease, with initial data anticipated by Q3 2023. The net loss applicable to common stockholders was $3.1 million, a reduction from $6.0 million in the same period last year.
Idera Pharmaceuticals has completed the acquisition of Aceragen, a biotech firm focusing on rare diseases. This strategic move aims to enhance Idera's pipeline with potential annual peak sales of $650 million from lead programs. The acquisition includes ACG-701, targeting cystic fibrosis and melioidosis, and ACG-801 for Farber disease, both with significant clinical milestones expected in 2023. The combined cash reserves are projected to fund operations into Q3 2023. Idera anticipates that this acquisition will provide substantial value for shareholders and improve treatment options for patients.
Idera Pharmaceuticals reported its Q2 2022 financial results, showing a net loss of $5.3 million, or $0.10 per share, an improvement from a net loss of $7.6 million, or $0.15 per share, in Q2 2021. The company held $24.5 million in cash as of June 30, 2022, expected to fund operations through August 2023. R&D expenses decreased to $2.7 million from $3.9 million year-over-year, while G&A expenses rose to $2.7 million compared to $2.5 million for the same period in 2021. Importantly, restructuring costs from a previous year were eliminated in this quarter.
Idera Pharmaceuticals recently announced that enrollment for the INTRIM 1 trial, investigating tilsotolimod, was halted early due to positive interim results. The Phase 2 trial showed a 70% lower rate of sentinel lymph node positivity among patients treated with tilsotolimod compared to placebo, with statistical significance achieved. The study, focused on localized melanoma, demonstrated the drug's potential to improve outcomes post-surgery. CEO Vincent Milano expressed optimism for the drug's future and plans for strategic partnerships to explore its full potential.
Idera Pharmaceuticals (IDRA) reported its Q1 2022 results, showing a net loss of $4.2 million or $0.08 per share, down from a net income of $109.6 million or $2.66 per share in Q1 2021. The company maintained a cash position of $28 million, expected to fund operations for the next year. R&D expenses dropped to $1.8 million from $6.9 million year-over-year, while G&A costs fell to $2.4 million from $3.2 million. Idera is exploring new development opportunities and strategic alternatives.
Idera Pharmaceuticals (IDRA) reported its financial results for Q4 and the full year ended December 31, 2021. The company had cash reserves of $32.5 million as of the reporting date, sufficient to fund operations for the next year. R&D expenses decreased to $2.1 million from $5.1 million in Q4 2020, while G&A expenses also declined. The net loss applicable to common stockholders narrowed significantly to $4.1 million or $0.08 per share for Q4 2021 compared to a loss of $76.7 million in Q4 2020. For the full year, net income was $96.9 million, significantly improved from a loss of $112.7 million in 2020.
Idera Pharmaceuticals (IDRA) provided clinical updates on tilsotolimod, a synthetic Toll-like receptor 9 agonist. The ILLUMINATE-206 trial showed a consistent safety profile, with one patient achieving stable disease over six months. However, no further enrollment is planned for this trial. AbbVie has halted patient enrollment in its study combining ABBV-368 and tilsotolimod, although safety was not a concern. Ongoing trials in melanoma and advanced cancers are generating early data suggesting immune activation. Idera is exploring out-licensing opportunities for tilsotolimod amid financial conservatism.
Idera Pharmaceuticals (Nasdaq: IDRA) reported its third-quarter financial results for the period ending September 30, 2021. The company maintains a cash position of $36.6 million, with R&D expenses down to $3.5 million compared to $4.8 million in Q3 2020. General and administrative costs also decreased to $2.3 million from $2.7 million. The net loss applicable to common stockholders was $6.0 million or $0.11 per share, a significant improvement from $20.6 million or $0.59 per share in the same quarter last year. Idera continues to focus on new asset development and ongoing clinical studies.
Idera Pharmaceuticals (Nasdaq: IDRA) reported its Q2 2021 financial results, showing a net loss of $7.6 million or $0.15 per share, an improvement from a net loss of $24.2 million or $0.72 per share in Q2 2020.
Research and development expenses decreased to $3.9 million from $5.4 million in the same period last year. The company continues to pursue opportunities in drug development, focusing on tilsotolimod in its Phase 2 ILLUMINATE-206 study and supporting AbbVie in their ongoing trial.
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