- 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.
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