Is Idera Pharmaceuticals (IDRA) Stock a Good Investment At $1 Now?

The Idera Pharmaceuticals (NASDAQ: IDRA) stock has had a torrid time over the course of the past month and has declined by as low as 80% during the period. In this regard, it should be noted that back in March, the stock had recorded a single-day decline of as low as 70%.

Is Idera Pharmaceuticals (IDRA) Stock a Good Investment At $1 Now?

The single-day decline was brought by a setback suffered by the company’s ILLUMINATE-301 in a key registration trial. The product is meant for treating anti-PD-1 refractory advanced melanoma but in the trial, it failed to hit its primary endpoint.

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Since then, the Idera stock has struggled considerably. At the time, the company had announced that it was contemplating the next steps as far as the continuation of the trial was concerned. That being said, the company did announce that it aims to continue the Phase 2 study of the product. Investors could consider keeping an eye out for the latest developments before making a decision regarding the Idera stock.

Alex Krakowsky

Editor in Chief. Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life