Seeking Alpha

Idera slumps

  • Shares of micro cap Idera Pharmaceuticals (IDRA -21.3%) plunged 21% today amidst the biotech sell-off.
  • The stock was due for a correction after it ran up almost seven-fold from its July 29 break out.
  • Not helping matters was a bearish report by Summer Street asserting its lead product, IMO-8400, is ineffective.
This was corrected on 03/25/2014 at 04:40 PM.
Comments (16)
  • mattliebs
    , contributor
    Comments (30) | Send Message
     
    Summer Street Capital shook the weak hands today... If they knew this drug was a failure, they'd be going to jail for inside information. If you believed in this company yesterday, this article shouldn't be more than tiny a blip on your radar.
    24 Mar, 04:27 PM Reply Like
  • seelisa
    , contributor
    Comments (192) | Send Message
     
    They are presenting their argument for why they believe it will fail. Not illegal.
    24 Mar, 07:31 PM Reply Like
  • mattliebs
    , contributor
    Comments (30) | Send Message
     
    Please re-read my comment:

     

    "If they KNEW"

     

    Knowing would imply inside information.
    24 Mar, 07:41 PM Reply Like
  • panchosfc
    , contributor
    Comments (36) | Send Message
     
    If the Summer Street Capital is telling the truth, it will be a bad week for $IDRA! But my question is: "How they can know that IMO-8400, is ineffective?"
    24 Mar, 04:38 PM Reply Like
  • cfriend881
    , contributor
    Comments (344) | Send Message
     
    nothing more than a ploy to use to drive price down , after run up, an also most likely profit taking, an set up new trading advantage......i.m.o I BOT 2 cents off the low today, an plan to watch for more opportunity , if they force the price dn more....great for entry points in a strong bio tech....C....
    24 Mar, 05:03 PM Reply Like
  • jcri33
    , contributor
    Comments (11) | Send Message
     
    Summer Street tried same ploy with PRAN on Feb. 10th, dropped huge, then data came back positive and Pran surged back!!! Summer Street should be investigated!!!!!!!!!! Check the charts and read the articles. Classic Short Manipulation!!!!
    24 Mar, 07:02 PM Reply Like
  • Windy Chicago
    , contributor
    Comments (3) | Send Message
     
    People who had money to buy at these bargain prices are winners.
    24 Mar, 07:15 PM Reply Like
  • arthurs1
    , contributor
    Comments (343) | Send Message
     
    Pran's results can at best be labeled mixed. Overall little or no improvement. One category out of 8 showed improvement.
    24 Mar, 11:33 PM Reply Like
  • Zubunda
    , contributor
    Comments (23) | Send Message
     
    I thought, based on company releases, that it is imo-8400 which will continue development in-house... Imo-9200 is essentially the same drag but made so that they can license it out to others for the large autoimmune indication. This seems to be a business choice, and a very prudent one indeed!

     

    Don't get me wrong nobody knows if the drug works or not before we get results! But Summer Streets premise seems flawed; it is not next gen per se, but a reformulation they plan to license without doing any clin tests themselves... This, of course, would be impossible if imo-8400 does fail! Thus nothing the company has done, not even imo-9200 indicates any doubt towards imo-8400, on the contrary.
    But we will know soon enough.
    25 Mar, 04:14 AM Reply Like
  • bkincaid
    , contributor
    Comment (1) | Send Message
     
    A lot of big money and big names are invested in Idera. Just a maneuver to drive price down.
    25 Mar, 08:34 AM Reply Like
  • panchosfc
    , contributor
    Comments (36) | Send Message
     
    keep $IDRA or sell it???
    25 Mar, 03:15 PM Reply Like
  • fpartel
    , contributor
    Comments (25) | Send Message
     
    This article references "Summer Street Capital" in error and hotlinks that firm. Was "Summer Street Research Partners" the intended reference? My healthy skepticism questions the authenticity of the report on Idera Pharmaceutical
    25 Mar, 03:50 PM Reply Like
  • seelisa
    , contributor
    Comments (192) | Send Message
     
    It is SummerStreetResearch Partners. I tweeted link to them on IDRA stream last night along with link to biotechs they have financial relationships with. There are many. They are investment bankers...This was certainly financially driven.
    25 Mar, 06:00 PM Reply Like
  • GaryStoltz
    , contributor
    Comments (28) | Send Message
     
    Why is Summer Street making that announcement and not the company itself?
    What is the company's reply to this and how will they continue?
    26 Mar, 02:26 AM Reply Like
  • curtis e
    , contributor
    Comment (1) | Send Message
     
    why wld summers hv this info ,.
    I'm sure Julian Baker -who recently joined the board and a major stk holder wld hv a lot more info on results then Summers.
    They r driving stk down to buy.
    All lies
    26 Mar, 03:31 AM Reply Like
  • jcri33
    , contributor
    Comments (11) | Send Message
     
    Summer Street and supposed analyst Bart Classless, actually double down after our positive release on Friday and attempt to save face with more BS attacking the clearly positive data. What a disgrace!!! Everyone and their brother knows that all of the clarifying details on dosing will be discussed in length at our upcoming AACR presentation. And then their equally unscrupulous cohorts at TheStreet jump in and immediately Downgrade IDRA. Such thinly veiled actions in an attempt to manipulate this stock will further prove how necessary an investigation is into these entities. Retail investors need protection from these types of shenanigans!!!! Just another example on how important it is to DO YOUR OWN DD, AND HAVE THE INTESTINAL FORTITUDE TO STICK TO YOUR INVESTING DECISIONS AND SEE THEM THROUGH, REGARDLESS OF SKETCHY ATTEMPTS TO THROW YOU OFF YOUR GAME AND MAKE YOU TRADE VIA PANIC/FEAR INSTEAD OF THE CONFIDENCE THAT BROUGHT YOUR INVESTMENT CAPITAL HERE IN THE FIRST PLACE!!!
    30 Mar, 01:11 PM Reply Like
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