Idera Pharmaceuticals Inc. ($IDRA) recently reported that its fourth quarter net income stood at $822,000. The company had suffered a loss for the corresponding period of the previous year. Its net income per share basis was reported at $0.01. Idera earned $15.3 million in revenue during the said time period. The results have been viewed positively by the market as the company stock gained over 49 percent in the past one month.
Idera reported that its net loss for the entire year stood at $38.4 million. On per share basis, the net loss came out at $0.30 per share. Its annual revenue was reported at $16.2 million. Late last month, the company had reported positive results for its cancer drug IMO-2125 as a combination therapy during early-stage trials. supplementary data from the dose-escalation stage of its Phase 1/2 clinical trial showed early-stage evidence of clinical activity. It also demonstrated that the drug was safe for all the evaluated doses.
The company stock has gained over 66 percent this year so far, while its 12 months gain stands at 25 percent. Despite, its massive gains, the stock is still trading nearly 30 percent lower than its 52 weeks high of $3.33, offering a good price point for opening a position.