Idera Pharmaceuticals Inc (NASDAQ:IDRA) is reporting additional data from the dose-escalation phase of its ongoing Phase 1/2 clinical trial of intratumoral IMO-2125, an agonist of TLR9 in combination with ipilimumab or pembrolizumab for treatment of patients with metastatic melanoma with disease that is refractory to PD-1 inhibitors.

In the poster presentation at the 2017 ASCO-SITC Clinical Immuno-Oncology Symposium, entitled, “Intratumoral (i.t.) IMO-2125, a TLR9 agonist is active in combination with ipilimumab (ipi) in PD-(L)1 refractory melanoma (RM),” Marc Uemura, M.D. from the University of Texas, MD Anderson Cancer Center, presented an update on the clinical and translational findings from the ongoing trial.

“We are very pleased to have achieved successful completion of all our objectives in the Phase 1 portion of this trial which established safety across all doses tested, and demonstrated preliminary evidence of clinical activity, including durable responses of over one year in two of the evaluable patients so far,” stated Mark Cornfeld, M.D., Idera’s Medical Lead, Oncology.  “Additionally from a scientific standpoint, we’ve established proof of mechanism through our translational effort which has gone well beyond the norm compared to what is typically done in oncology drug development.”

Continued Cornfeld, “At this point we have very clear justification to further the development of IMO-2125 and we’ll soon be moving to the phase 2 portion of the trial, which will expand to multiple centers.  Additionally we are undertaking a parallel development pathway for IMO-2125 in combination with pembrolizumab and while that is not the focus of this presentation today, we are making good progress with safety and dose evaluation in that arm.”

The company is also announcing the acceptance of two abstracts at the upcoming American Association for Cancer Research (AACR) 2017 Annual Meeting being held April 1-5, in Washington DC. Idera has gained acceptance of two presentations related to IMO-2125.

On Wednesday, April 5, 2017, Dr. Cara Haymaker of MD Anderson Cancer Center will present an update on the translational data outcomes in a poster presentation entitled, “Translational evidence of reactivated innate and adaptive immunity with intratumoral IMO-2125 in combination with systemic checkpoint inhibitors from a Phase 1/2 study in patients with anti-PD-1 refractory metastatic melanoma.”

Additionally, on the same day, Daqing Wang, Ph.D., Principal Scientist, Idera Pharmaceuticals will present new IMO-2125 pre-clinical data in a poster entitled, “Local treatment with novel TLR9 agonist IMO-2125 demonstrates anti-tumor activity in preclinical models of pancreatic cancer.”

Shares of Idera Pharmaceuticals are currently trading at $1.70, down $0.03 or -1.73%. IDRA has a 1-year high of $3.33 and a 1-year low of $1.19. The stock’s 50-day moving average is $1.54 and its 200-day moving average is $1.80.

On the ratings front, Cowen analyst Boris Peaker assigned a Hold rating on IDRA, in a report issued on December 30. According to TipRanks.com, Peaker has a yearly average return of 0.2%, a 38% success rate, and is ranked #2773 out of 4499 analysts.

Idera Pharmaceuticals, Inc. is a clinical stage biotechnology company, which is engaged in discovery, development and commercialization of novel nucleic acid therapeutics to treat patients with serious and life-threatening diseases. The company uses two distinct proprietary drug discovery technology platforms to design and develop drug candidates: Toll-like receptor targeting technology and third-generation antisense technology.