ironwood pharmaceuticals inc (IRWD) Key Developments
Shire Reportedly Mulls Acquisition Of Ironwood Pharmaceuticals
Mar 19 15
Shire plc (LSE:SHP) is reportedly seeking acquisition of Ironwood Pharmaceuticals, Inc. (NasdaqGS:IRWD). Market sources reported that Ironwood Pharmaceuticals has been approached by European suitors, including Shire, 35p better at 5635p, and rejected cash offers in the region of $30 a share. Ironwood Pharma jumped 5% to $16.47.
Exact Sciences Corp. and Ironwood Pharmaceuticals, Inc. Enter Co-Promotion Agreement for Cologuard®
Mar 9 15
Exact Sciences Corp. and Ironwood Pharmaceuticals, Inc. announced an agreement to co-promote Exact Sciences Cologuard®. The agreement provides for the near-term expansion of Cologuard promotional efforts through the use of Ironwood’s clinical sales specialists to more than double the number of physicians reached in the United States. The non-exclusive co-promotion agreement covers an initial one-year term with the opportunity for extension. Ironwood’s clinical sales specialists are expected to begin Cologuard promotional efforts in the second quarter of 2015, educating health care practitioners to whom they currently detail LINZESS® (linaclotide). LINZESS is the first and only approved therapy in a class of drugs that works differently to treat irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC) in adults. The agreement augments Exact Sciences 140 sales representatives with Ironwood’s team of approximately 160 sales representatives. Under the terms of the deal, Ironwood will be compensated from the net sales generated from the physicians on whom they call. LINZESS will remain the first-position product for the Ironwood sales team. Exact Sciences will maintain responsibility for all other aspects of commercialization of Cologuard. The companies will also collaborate on medical education initiatives to support more in-depth understanding of Cologuard and the importance of colorectal cancer screening.
Ironwood Pharmaceuticals Initiates Phase I Clinical Study of Sgc Stimulator IW-1973
Mar 5 15
Ironwood Pharmaceuticals, Inc. announced that dosing has begun in a Phase I clinical study of IW-1973, the first clinical compound in a broad, pharmacologically-differentiated library of soluble guanylate cyclase (sGC) stimulators discovered by Ironwood. Data are expected in the second half of 2015. Ironwood expects to advance a second sGC stimulator, IW-1701, into a Phase I clinical study later this year. The randomized, double-blind, placebo-controlled Phase I clinical study is designed to assess the safety, pharmacokinetic profile and pharmacodynamic effects of IW-1973 in healthy volunteers. The IW-1973 Phase I study is the seventh clinical study ongoing in Ironwood's research and development pipeline this year. Other clinical studies conducted by Ironwood include an ongoing Phase IIa clinical study of IW-9179 in diabetic gastroparesis and a recently completed Phase IIa clinical study of IW-3718 for refractory gastroesophageal reflux disease. Clinical studies ongoing with partners include Phase III trials with linaclotide for adults with irritable bowel syndrome with constipation for China and for Japan, as well as a Phase III trial with a 72 mcg dose of linaclotide in adult patients with chronic idiopathic constipation and a Phase II clinical study of linaclotide for adults with opioid-induced constipation, both in the U.S. About IW-1973: IW-1973 is an investigational soluble guanylate cyclase (sGC) stimulator discovered by Ironwood. SGC is an enzyme found inside cells throughout the body; it modulates levels of the second messenger cyclic guanosine monophosphate (cGMP), a signaling molecule that regulates many physiological changes and may be relevant for the treatment of a broad range of diseases including cardiovascular diseases such as pulmonary arterial hypertension and congestive heart failure as well as fibrosis, muscular dystrophy, glaucoma, dementia and diabetic complications. Data from preclinical studies of IW-1973 suggest a pharmacokinetic profile consistent with once daily dosing and showed a gradual lowering of blood pressure without profound hypotension or tachycardia in animal models. Ironwood established its expertise with guanylate cyclase C (GC-C), another modulator of cGMP, through the discovery and development of linaclotide; the company then leveraged that GC-C expertise to discover and patent a broad library of chemically distinct sGC stimulators. Ironwood is currently utilizing medicinal chemistry, formulation and pharmacology to drive toward optimizing these molecules for pursuit of various indications and dosing schedules.
Ironwood Pharmaceuticals, Inc. Presents at Barclays Global Healthcare Conference, Mar-11-2015 11:15 AM
Mar 4 15
Ironwood Pharmaceuticals, Inc. Presents at Barclays Global Healthcare Conference, Mar-11-2015 11:15 AM. Venue: Loews Miami Beach Hotel, 1601 Collins Avenue, Miami, Florida, United States. Speakers: Mark G. Currie, Chief Scientific Officer, Senior Vice President and President of Research & Development.
Ironwood Pharmaceuticals Reports Unaudited Consolidated Earnings Results for the Fourth Quarter Year Ended December 31, 2014
Feb 12 15
Ironwood Pharmaceuticals reported unaudited consolidated earnings results for the fourth quarter year ended December 31, 2014. The company reported a narrower loss for the recent quarter on revenue that was more than 600% higher than the same quarter of 2013. The company reported a net loss of $37.6 million, or $0.27 per basic and diluted share. For the same quarter last year, IRWD reported a loss of $52.0 million, or $0.43 per basic and diluted share. Revenue totaled $38.1 million, beating the estimated $35.2 million, and significantly higher than fourth quarter 2013 total revenue of $5.0 million largely due to $33.7 million in profits from LINZESS realized in the fourth quarter of 2014. Loss from operations was $33,125,000 compared to $46,738,000 a year ago.
For the year, the company's collaborative arrangements revenue was $76,436,000 compared to $22,881,000 a year ago. Loss from operations was $169,370,000 compared to $252,002,000 a year ago. Net loss was $189,618,000 or $1.39 per basic and diluted share compared to $272,812,000 or $2.35 per basic and diluted share a year ago.