Idera Pharmaceuticals, Inc. (IDRA) swung to a net profit for the quarter ended Dec. 31, 2016. The company has made a net profit of $0.82 million, or $ 0.01 a share in the quarter, against a net loss of $11.99 million, or $0.10 a share in the last year period.
Revenue during the quarter surged 7,942.63 percent to $15.28 million from $0.19 million in the previous year period.
Operating income for the quarter was $0.74 million, compared with an operating loss of $12.08 million in the previous year period.
"2016 was an incredibly important period for driving Idera’s future direction and opportunities for success," stated Vincent Milano, Idera's chief executive officer. "And to that end, I am extremely proud of the contributions of every member of our team throughout 2016 as we now find ourselves exceedingly focused on our core priorities as we enter 2017 which is set up to be a pivotal year for our company, our patients and our shareholders."
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