Will have to wait for the dust to settle to know for sure.
You are a chart guy/gal. It was saying sell (or at least reduce position) for several days.
Kinda looks like some knew before announcement and bailed early.
Hope you did.
Need more facts to determine how this affects IDRA LT.
Watch volume and intraday action after identifying bounce points from longer term charts for a scalp.
It already hit 1.25 in pre-market if you didn't buy already.
"Idera Pharmaceuticals (NASDAQ:IDRA) is down 13% premarket on light volume on the heels of its announcement that a Phase 2 clinical trial evaluating IMO-8400 in adult patients with dermatomyositis, an autoimmune disorder characterized by muscle weakness and skin rash, failed to achieve the primary endpoint.
The change from baseline to week 24 in Cutaneous Dermatomyositis Disease Area and Severity Index (CDASI) activity scores in treated patients did not separate sufficiently from the placebo group.
The company provided no guidance related to the status of the program."
PS: I am done with IDRA for now after two disappointments in a row.
Will check it now and then.
Hope you got some IQ.
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