Idera Pharmaceuticals Announces Pricing of Public Offering of Common Stock and Pre-Funded Warrants

  Idera Pharmaceuticals Announces Pricing of Public Offering of Common Stock
  and Pre-Funded Warrants

Business Wire

CAMBRIDGE, Mass. -- September 25, 2013

Idera Pharmaceuticals, Inc. (NASDAQ: IDRA) (“Idera” or, the “Company”) today
announced the pricing of an underwritten public offering of 13,727,251 shares
of common stock for a public offering price of $1.55 per share, and pre-funded
warrants to purchase up to an aggregate of 4,175,975 shares of common stock at
the per share public offering price for the common stock less the $0.01 per
share exercise price for each such pre-funded warrant. The gross proceeds to
Idera from this offering are expected to be approximately $27.7 million,
before deducting the underwriting discounts and commissions and other
estimated offering expenses payable by Idera and excluding the proceeds, if
any, from the exercise of the pre-funded warrants. The offering is expected to
close on or about September 30, 2013, subject to customary closing conditions.

Idera anticipates using the net proceeds from the offering to fund its planned
Phase 1/2 clinical trials of IMO-8400 intended to evaluate its use in certain
genetically defined forms of B-cell lymphomas, to fund its planned Phase 1
clinical trial of IMO-9200 and for working capital and other general corporate
purposes.

Piper Jaffray & Co. is acting as sole manager for the offering.

The securities described above are being offered by the Company pursuant to a
shelf registration statement previously filed with and declared effective by
the Securities and Exchange Commission (the “SEC”) on September 18, 2013. The
offering will be made only by means of the written prospectus and prospectus
supplement that form a part of the registration statement. A preliminary
prospectus supplement and the accompanying prospectus relating to the
securities being offered has been filed with the SEC and is available on the
SEC's website at http://www.sec.gov. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the securities being
offered may also be obtained from Piper Jaffray & Co., Attention: Prospectus
Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at
800-747-3924 or email at prospectus@pjc.com.

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy the securities being offered, nor shall there be any sale
of the securities being offered in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful prior to the registration
or qualification under the securities laws of any such state or other
jurisdiction.

About Idera Pharmaceuticals, Inc.

Idera's technology platform involves creating novel synthetic RNA- and
DNA-based compounds to modulate immune responses. Idera has applied this
platform to develop proprietary Toll-like receptor (TLR) antagonists as
immunomodulatory drug candidates. Toll-like receptor antagonists block the
overactivation of immune factors which can cause a range of pathological
effects. Idera is conducting clinical development of TLR antagonists in
autoimmune and inflammatory diseases, and preclinical development of their use
in certain genetically defined forms of B-cell lymphoma. More information on
Idera is available at iderapharma.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included or incorporated in this press release,
including statements regarding the Company’s strategy, future operations,
collaborations, intellectual property, cash resources, financial position,
future revenues, projected costs, prospects, plans, and objectives of
management, are forward-looking statements. The words “believes,”
“anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,”
“should,” “potential,” “likely,” “projects,” “continue,” “will,” and “would”
and similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words.
Idera cannot guarantee that it will actually achieve the plans, intentions or
expectations disclosed in its forward-looking statements and you should not
place undue reliance on the Company’s forward-looking statements. There are a
number of important factors that could cause Idera’s actual results to differ
materially from those indicated or implied by its forward-looking statements.
Factors that may cause such a difference include: whether Idera’s cash
resources will be sufficient to fund its continuing operations and the further
development of the Company’s programs; whether results obtained in early
research, preclinical studies and clinical trials will be indicative of the
results that will be generated in future clinical studies; whether products
based on Idera’s technology will advance into or through the clinical trial
process on a timely basis or at all and receive approval from the United
States Food and Drug Administration or equivalent foreign regulatory agencies;
whether, if the Company’s products receive approval, they will be successfully
distributed and marketed; whether Idera will be able to enter into
collaborations that will advance the development of its compounds for
autoimmune disease indications; and such other important factors as are set
forth under the caption “Risk Factors” in the Company’s Quarterly Report on
Form 10-Q and the Current Report on Form 8-K that was filed on September 24,
2013. Although Idera may elect to do so at some point in the future, the
Company does not assume any obligation to update any forward-looking
statements and it disclaims any intention or obligation to update or revise
any forward-looking statement, whether as a result of new information, future
events or otherwise.

Contact:

Idera Pharmaceuticals, Inc.
Lou Arcudi, 617-679-5517
larcudi@iderapharma.com
 
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