IDRA - Idera outlines capital requirement to move tilsotolimod toward commercialization in advanced melanoma

Mid-cap Idera Pharmaceutical ([[IDRA]] +1.5%) provides a preview for its cash runway and illustrates that if it announces additional capital raise of up to $20M after Phase 3 tilsotolimod data, it would be sufficient to run through Q1 2022 and further capital raise in mid-2021 of up $15M and $15M in Jan next year, potential cash runway would be into Q1 2023.Recently, the company closed a second tranche under its Apr. 7, 2020, securities purchase agreement leading to total proceeds of up to $20.7M.Phase 3 data for company's lead program tilsotolimod for Melanoma by late of Q1 2021. If approved, MODTYLSO (tilsotolimod) will be Idera’s first commercial product.The company is evaluating tilsotolimod combined with Bristol-Myers Squibb's Opdivo (nivolumab) and Yervoy (ipilimumab), in immunotherapy-naive microsatellite-stable colorectal cancer (MSS-CRC) patients. Interim results showed six of the nine experienced stability or reduction in the size of injected lesions while six (some overlap) showed stability or reduction in overall

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Idera outlines capital requirement to move tilsotolimod toward commercialization in advanced melanoma