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Filing Details

Accession Number:: 0000899243-21-014303
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2021-03-31 21:51:08
Reporting Period:: 2021-01-20

Accepted Time:: 2021-03-31 21:51:08
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
861838	Idera Pharmaceuticals Inc.	IDRA	Biological Products, (No Disgnostic Substances) (2836)	043072298

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1193366	El Youssef Zein	C/O Stuarts Corporate Services Ltd. Kensington House, 69 Dr. Roy'S Drive Georgetown, Grand Cayman E9 KY1-1104	No	No	Yes	No
1534428	Pillar Invest Corp	C/O Stuarts Corporate Services Ltd. Kensington House, 69 Dr. Roy'S Drive Georgetown, Grand Cayman E9 KY1-1104	No	No	Yes	No
1783582	Abude Umari	C/O Stuarts Corporate Services Ltd. Kensington House, 69 Dr. Roy'S Drive Georgetown, Grand Cayman E9 KY1-1104	No	No	Yes	No
1783583	Pillar Partners Foundation, L.p.	C/O Stuarts Corporate Services Ltd. Kensington House, 69 Dr. Roy'S Drive Georgetown, Grand Cayman E9 KY1-1104	No	No	Yes	No
1783584	Pillar Pharmaceuticals 6, L.p.	C/O Stuarts Corporate Services Ltd. Kensington House, 69 Dr. Roy'S Drive Georgetown, Grand Cayman E9 KY1-1104	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2021-01-20	643,525	$0.01	1,931,893	No	4	X	Indirect	By Pillar Pharmaceuticals 6, L.P.See Footnotes
Common Stock	Acquisiton	2021-03-18	1,376,039	$1.80	4,121,599	No	4	S	Indirect	By Pillar Partners Foundation, L.P.See Footnotes
Common Stock	Acquisiton	2021-03-18	323,726	$1.80	1,608,167	No	4	S	Indirect	By Pillar Pharmaceuticals 6, L.P.
Common Stock	Acquisiton	2021-03-26	1,611,634	$0.01	5,733,233	No	4	X	Indirect	By Pillar Partners Foundation, L.P.See Footnotes
Common Stock	Acquisiton	2021-03-26	884,175	$0.01	2,492,342	No	4	X	Indirect	By Pillar Pharmaceuticals 6, L.P.See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	X	Indirect	By Pillar Pharmaceuticals 6, L.P.See Footnotes
No	4	S	Indirect	By Pillar Partners Foundation, L.P.See Footnotes
No	4	S	Indirect	By Pillar Pharmaceuticals 6, L.P.
No	4	X	Indirect	By Pillar Partners Foundation, L.P.See Footnotes
No	4	X	Indirect	By Pillar Pharmaceuticals 6, L.P.See Footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Prefunded Warrants	Disposition	2021-01-20	643,525	$0.01	643,525	$0.01
Common Stock	Prefunded Warrants	Disposition	2021-03-26	1,611,634	$0.01	1,611,634	$0.01
Common Stock	Prefunded Warrants	Disposition	2021-03-26	884,175	$0.01	884,175	$0.01

Remaning Holdings	Exercise Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
643,525	2020-12-11	No	4	X	Indirect
1,611,634	2020-12-11	No	4	X	Indirect
884,175	2020-12-11	No	4	X	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	386,110	Indirect	By Abude UmariSee Footnotes
Common Stock	26,308	Indirect	By Youssef El ZeinSee Footnotes

Footnotes

The shares sold on this date were sold in multiple transactions. This price is the weighted average sales price per share of all shares sold on this date; the actual sale prices per share range from $1.72-$1.85. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price. The shares were sold to close two margin loans and the Pillar Funds do not currently have any other margin loans.
Pillar Invest Corporation ("Pillar GP") is the general partner of Pillar Pharmaceuticals I, L.P., Pillar Pharmaceuticals II, L.P., Pillar Pharmaceuticals III, L.P., Pillar Pharmaceuticals IV, L.P., Pillar Pharmaceuticals V, L.P., Pillar Pharmaceuticals 6, L.P. ("Pillar 6") and Pillar Partners Foundation, L.P. (collectively, the "Pillar Funds"). Youssef El Zein and Abude Umari are directors of Pillar GP. Each of Pillar GP, Mr. El Zein and Mr. Umari disclaims Section 16 beneficial ownership of the securities beneficially owned by the Pillar Funds and this report shall not be deemed an admission that any of Pillar GP, Mr. El Zein or Mr. Umari is the Section 16 beneficial owner of any such securities, except to the extent of its or his pecuniary interest therein, if any, by virtue of its or his ownership interest in the Pillar Funds or Pillar GP, as applicable.
1,611,634 of such warrants beneficially owned and exercised for shares of common stock by Pillar Partners, of which Pillar GP is the general partner (the "Pillar Partners Warrants") and 884,175 of such warrants exercised by Pillar 6 (the "Pillar 6 Warrants"). Pillar GP disclaims Section 16 beneficial ownership of the Pillar Partners Warrants and the Pillar 6 Warrants and the common stock underlying such warrants and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar Partners Warrants or Pillar 6 Warrants.
643,525 of such warrants exercised by Pillar 6 (the "Pillar 6 January Warrants"). Pillar GP disclaims Section 16 beneficial ownership of the Pillar 6 January Warrants and the common stock underlying such warrants and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar 6 January Warrants.
On March 4, 2021, Pillar 6 distributed in-kind, without consideration, 187,600 shares of Common Stock to Abude Umari, in accordance with his pro rata interest in Pillar 6. This distribution was made in accordance with the exemptions under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.
Includes the shares received by Mr. Umari in the distribution reported in footnote (5).
The Pre-funded warrants have no expiration date.