Ironwood Stock Price, News & Analysis

Ironwood Pharmaceuticals (Nasdaq: IRWD) announced that Mark Mallon will step down as CEO effective March 12, 2021, to pursue another opportunity. Thomas McCourt, currently president, will become interim CEO. Julie McHugh will serve as executive chair of the Board of Directors. The Board is initiating a search for Mallon's permanent successor. The company emphasizes its commitment to maximizing LINZESS, its leading product for GI diseases, and aims for sustained profitability and growth despite the ongoing challenges from the COVID-19 pandemic.

Ironwood Pharmaceuticals (NASDAQ: IRWD) announced their fourth quarter and full year 2020 investor update conference call on February 17, 2021, at 8:30 a.m. Eastern Time. Participants can join via phone or access the webcast on their website. The call will also be available for replay starting the same day at 11:30 a.m. through March 3, 2021. Ironwood, founded in 1998 and headquartered in Boston, specializes in medicines for gastrointestinal (GI) diseases, including linaclotide, a leading treatment for IBS-C and CIC.

Ironwood Pharmaceuticals (NASDAQ: IRWD) will present at the 39th Annual J.P. Morgan Healthcare Conference on January 11, 2021, at 5:20 p.m. ET. The presentation will include a corporate overview and a Q&A session. Interested parties can access a live webcast via Ironwood's website, with a replay available for 14 days post-conference. Ironwood specializes in developing treatments for gastrointestinal diseases, notably linaclotide for IBS-C and CIC, and was founded in 1998, based in Boston.

Ironwood Pharmaceuticals (NASDAQ: IRWD) announces the immediate appointment of Jay P. Shepard to its Board of Directors. Shepard, a seasoned leader with nearly three decades of experience, will also serve on the Audit Committee, expanding the board to 11 members, nine of whom are independent. The company aims to leverage Shepard's expertise to enhance its mission in the treatment of gastrointestinal (GI) diseases. Shepard's background includes leadership roles at several clinical-stage companies, emphasizing his suitability for this position.

Ironwood Pharmaceuticals (NASDAQ: IRWD) will engage in a virtual fireside chat during the 29th Annual Credit Suisse Healthcare Conference on November 11, 2020, at 3:30 p.m. ET. Interested listeners can access the live webcast via the Investors section of Ironwood's website, starting 15 minutes before the event. A replay will be available for 14 days post-conference. Ironwood focuses on developing treatments for gastrointestinal diseases and is known for its linaclotide product, a leader in the U.S. market for IBS-C and CIC.

Ironwood Pharmaceuticals (Nasdaq: IRWD) reported strong financial results for Q3 2020, driven by a 10% year-over-year increase in LINZESS net sales, totaling $241 million. The company achieved a GAAP net income of $34.4 million ($0.22 per share), significantly up from $20.6 million the previous year. However, setbacks in its pipeline prompted the termination of IW-3718 development, leading to a planned 100-employee reduction. Ironwood expects cost savings of $95 million from this restructuring. The company also raised its 2020 revenue guidance to $370-$385 million.

Ironwood Pharmaceuticals (NASDAQ: IRWD) has appointed Alexander Denner, Ph.D., to its Board of Directors effective November 9, 2020. With Dr. Denner's appointment, the Board will consist of 10 directors, eight of whom are independent. Julie McHugh, Board Chair, emphasized Dr. Denner's extensive healthcare investment experience as a valuable asset for advancing gastrointestinal medicines and enhancing shareholder value. Dr. Denner is the founding partner of Sarissa Capital Management LP and has a notable history of leadership in healthcare companies.

Ironwood Pharmaceuticals (NASDAQ: IRWD) will host its third quarter 2020 investor update conference call on November 5, 2020, at 4:30 p.m. Eastern Time. Participants can dial (833) 350-1432 (U.S. and Canada) or (647) 689-6932 (international) to join the call using conference ID 2794527. A replay will be available starting the same day at 7:30 p.m. ET through November 19 at (800) 585-8367 (U.S. and Canada). Ironwood is focused on developing therapies for gastrointestinal diseases, notably linaclotide for IBS-C and CIC.

Ironwood Pharmaceuticals (NASDAQ: IRWD) announced disappointing results from its Phase III trial IW-3718-302 for IW-3718, which failed to meet primary endpoints for treating refractory gastroesophageal reflux disease (GERD). Following this, Ironwood will discontinue IW-3718's development and halt enrollment in another related trial. The company plans to reduce its workforce by 35%, saving over $95 million, but incur one-time costs of up to $12 million linked to the layoffs. Ironwood remains focused on maximizing LINZESS, its leading GI medication.