Idera Pharmaceuticals Inc (NASDAQ:IDRA) shares are trading higher by 43% at $1.60 after it was disclosed in a Form 4 filing the company COO Daniel Soland purchased 50,000 shares of the company stock at an average price of $1.19.

Idera Pharmaceuticals is a clinical-stage biopharmaceutical company involved in the discovery, development, and commercialization of innovative therapeutics for oncology and rare diseases.

Idera Pharmaceuticals has developed two distinct proprietary drug-discovery technology platforms: Toll-like receptor and third-generation antisense technology. The Toll-like receptor technology helped the company create synthetic oligonucleotide-based drug candidates.

Idera Pharmaceuticals has a 52-week high of $6.14 and a 52-week low of $0.97