Exton’s Idera Pharmaceuticals is planning to sell up to $50 million in shares of its common stock through an underwritten public offering. As part of the offering, Idera intends to grant the underwriters a 30-day option to buy additional shares of its common stock up to a maximum of 15% of the number of shares of common stock sold in the offering. Idera plans to use the net proceeds from this offering together with existing funds to advance the clinical development in several of its current programs.
