Idera increases amount it may draw from $9.75 million equity line before registration statement is effective

By Sheri Kasprzak

New York, July 14 - Idera Pharmaceuticals, Inc. has increased to $3.5 million from $2.5 million the amount it may draw on a $9.75 million equity line from Biotech Shares Ltd. before the registration statement is effective.

The company has not been able to make additional draws on the line because of the previous amount restriction.

Now, the company may sell 683,594 shares to Biotech at $5.12 each.

Idera entered into the equity line in March.

Idera, based in Cambridge, Mass., develops targeted immune therapies based on the modulation of Toll-like receptors.

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