Orlando, FL -- (SBWIRE) -- 10/04/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Idera Pharmaceuticals Inc (NASDAQ:IDRA), Omeros Corporation (NASDAQ:OMER).
Idera Pharmaceuticals Inc (NASDAQ:IDRA) shares gained 24.37% to $2.45. The company on Sept. 30 announced the closing of its previously announced underwritten public offering of 13,727,251 shares of common stock, and pre-funded warrants to purchase up to an aggregate of 4,175,975 shares of common stock. The gross proceeds to Idera from this offering are expected to be approximately $27.7 million, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Idera and excluding the proceeds, if any, from the exercise of the pre-funded warrants. Piper Jaffray & Co. acted as sole manager for the offering.
Are investors worried about the recent updates with IDRA? Find out with a free trend analysis HERE
Omeros Corporation (NASDAQ:OMER) shares jumped 18.23% to $13.23. The company on Oct. 3 announced that it entered into a settlement agreement with its insurer, Carolina Casualty Insurance Company (CCIC), related to CCIC's defense of, and coverage obligations owed to, Omeros and its chief executive officer and chairman, Gregory A. Demopulos, M.D., in previously settled litigation with Omeros' former chief financial officer. The settlement includes a release of each party's respective claims in the insurance coverage lawsuit and payment by CCIC of $12.5 million to Omeros by October 25, 2013. While Dr. Demopulos released all of his claims in exchange for this settlement, he elected to receive no portion of the settlement funds and to have all proceeds be paid to Omeros.
Additionally, the company on Sept. 30 announced that OMS824, its phosphodiesterase 10 (PDE10) inhibitor, has received orphan drug designation from the U.S. Food and Drug Administration for the treatment of Huntington's disease. OMS824 selectively inhibits PDE10, an enzyme expressed in areas of the brain linked to a wide range of diseases that affect cognition, including Huntington's disease and schizophrenia. As previously reported, Phase 1 clinical results in healthy subjects demonstrated that OMS824 is well tolerated and suggest that it has a better clinical therapeutic index or "safety factor" than other PDE10 inhibitors in development.
Is OMER going to continue its rally or drop like a rock? Find out with a free trend analysis HERE
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