Monday, December 29, 2014 6:19:13 PM
Shares of Idera Pharmaceuticals (IDRA) soared more than 15% in late afternoon trading on Monday after the FDA granted orphan designation to the company's treatment of Waldenstrom's macroglobulinemia.
Waldenstrom's macroglobulinemia is a cancer of the B lymphocytes, a type of white blood cell, tied to an overproduction of proteins called IgM antibodies in the body.
The stock traded near its opening price of $4.01 for much of the day until approximately 3 p.m., at which time the stock skyrocketed.
http://www.thestreet.com/story/12996331/1/idera-pharmaceuticals-idra-stock-surges-after-fda-grants-orphan-designation-for-cancer-treatment.html?puc=yahoo&cm_ven=YAHOO
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