Tuesday, June 4, 4:22 PM
Underwriters for Ironwood Pharmaceuticals' (IRWD) recent public offering partially exercise their option to purchase additional shares, buying a total of 704,948 units at $13, bringing the total number of shares issued in the deal to 11.2M. Shares are down fractionally AH. (PR)
Comment![Healthcare]
Thursday, May 30, 8:37 AM
Wedbush's Gregory Wade reverses course and upgrades Ironwood Pharmaceuticals (IRWD) to Neutral from Underperform — he downgraded the shares a little over a month ago after asking some pointed questions regarding R&D expenditures on the CC. Wade now says higher W/W script growth should lead to greater net sales of Linzess (IRWD disappointed with Linzess sales in Q1) which ultimately means a lower balance sheet gap to profitability ($150M versus $200M). Wade also says the company shouldn't need any more equity financing. Shares +1% premarket.
Comment![Healthcare]
Wednesday, May 22, 1:34 PM
Ironwood Pharmaceuticals (IRWD -5%) slips after pricing its previously announced 10.5M share offering at $13 per share. All shares are being offered by the company, and proceeds are expected to be around $136.5M. The company intends for net proceeds to support the commercial launch of Linzess as well as support general research and development within the Company's pipeline.
Comment![Healthcare, On the Move]
Monday, May 20, 4:14 PM
Ironwood Pharmaceuticals (IRWD) announces a 10.5M share public offering, with a 30-day option to purchase up to an additional 1,575,000 shares. All of the shares are being offered by the company, which plans to use the proceeds to support the commercial launch of Linzess in the U.S. and to fund linaclotide development opportunities to strengthen the clinical profile of the drug and expand the product label for additional populations and indications. Shares +0.7% AH.
1 Comment[Healthcare]
Wednesday, April 24, 12:13 PM
Ironwood Pharmaceuticals (IRWD -3.5%) (which yesterday reported a Q1 miss and underwhelmed with sales of its IBS drug Linzess) falls again as Morgan Stanley downgrades to Equal-Weight despite projecting "a competitive cost/benefit" Linzess profile. Meanwhile, Wedbush's Gregory Wade downgrades the shares to Underperform. "Can you help us understand where the money is going?" Wade asked on the call, referring to ongoing Linzess-related R&D expenditures that appear to be more than 5X his estimates. "It's really just the cost of operating the business," CFO Michael Higgins responded. (transcript)
Comment![Healthcare, On the Move]
Tuesday, April 23, 11:06 AM
Ironwood Pharmaceuticals (IRWD -4.5%) slides on a big Q1 miss this morning. Revenue dropped 73% Y/Y on weak sales of its IBS drug Linzess, while losses widened significantly as its bottom line was hit hard by a 92% rise in total costs - due largely to the rollout of Linzess - and an 11% jump in R&D expenses.
Comment![Healthcare, On the Move, Earnings]
Tuesday, April 23, 8:30 AM
Ironwood Pharmaceuticals (IRWD) sinks 13.3% premarket after saying sales of Linzess — the IBS drug the company markets with Forest Labs (FRX) — were $4.5M for Q1 versus expectations of $11-13M. Credit Suisse and Wedbush previously said early evidence suggested demand for the drug was strong. Irina Rivkind at Cantor says Synergy's (SGYP) investigational candidate plecanatide has the potential to achieve revenue parity with Linzess.
Comment![On the Move, Healthcare]
Tuesday, April 9, 11:44 AM
Synergy Pharmaceuticals (SGYP +10.3%) soars on heavy volume after Cantor Fitzgerald raises its price target on the shares to $15 from $12. Irina Rivkind says the company's lead investigational drug plecanatide can "achieve revenue parity" with Ironwood (IRWD -0.5%) and Forest Laboratories' (FRX -0.2%) Linzess, an FDA approved treatment for constipation.Comment![Healthcare, On the Move]
Friday, March 15, 2:05 PM
Ironwood Pharmaceuticals (IRWD +4.7%) trades up after Credit Suisse raises the shares to Outperform and raised its price target to $24 from $15. The firm says IRWD is poised to see strong demand for its IBS drug Linzess, based on a survey of 100 physicians.
Comment![Healthcare, On the Move]
Wednesday, February 13, 1:41 PM
Ironwood Pharmaceuticals (IRWD +0.9%) gains on an upgrade to Neutral today from Wedbush. The firm notes that early script data for Q1 suggests strong week-over-week Linzess growth, which, if sustained, would see Q1 and FY13 end-user demand well ahead of initial estimates.
Comment![Healthcare, On the Move]
Wednesday, January 16, 2:51 PM
Shares of Ironwood Pharmaceuticals (IRWD -7.5%) slide after posting a Q4 earnings beat yesterday, but posting a 16% Y/Y decline in total revenue. UBS cut the shares to Sell this morning after the report.
Comment![Healthcare, On the Move]