Idera Pharmaceuticals Inc (IDRA)

[PennyMoocher69]

Idera Pharmaceuticals (IDRA) Stock Surges After FDA Grants Orphan Designation for Cancer Treatment

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