Idera Pharmaceuticals, Inc. Announces Closing of Common Share Offering

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CAMBRIDGE, Mass.--(BUSINESS WIRE)--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.

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