Idera shares slide on PhII failure; WuXi blueprints $60M manufacturing center in Worcester, MA
→ Shares of Idera Pharmaceuticals $IDRA were hammered early today after the biotech reported that their Phase II clinical trial of IMO-8400 in adult patients with dermatomyositis failed. The study recruited only 30 patients, dividing them into one of three dosage groups for up to 24 weeks. The stock initially plunged close to 30%, but then pulled back from the brink, down about 12% in early trading.
→ WuXi Biologics has unveiled plans to build a new, state-of-the-art manufacturing center in Worcester, MA. The Shanghai-based company is also planning 150 new hires to staff the facility. Their plan is to make biologics for both clinical supply as well as small commercial volumes.