IDRA - Idera ends melanoma trial; announces departure of chief medical officer

Microcap clinical-stage company Idera Pharmaceuticals (IDRA) is trading ~5.7% lower today after announcing that the company will not continue the ILLUMINATE-301 trial citing its failure to meet the primary endpoint.The Phase 3 trial was designed to compare the combination of tilsotolimod and ipilimumab against ipilimumab alone in patients with anti-PD-1 refractory advanced melanoma.In March, Idera announced that the trial failed to meet the primary endpoint of objective response rate ((ORR)) sending its shares sharply lower in after-hours trading.The company also disclosed today that Elizabeth Tarka its chief medical officer since July 2019 would be leaving the company effective May 28. Dr. Tarka will continue to serve Idera on a consulting basis.“I want to thank Liz for helping us deliver ILLUMINATE-301 and for her many other contributions over the past two years,” commented Vincent Milano CEO Idera.In March, the trial setback prompted a range of Wall Street analysts from H.C. Wainwright, JPMorgan, Barclays, and

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Idera ends melanoma trial; announces departure of chief medical officer