Ironwood Pharmaceuticals ($IRWD)- 10 Biotech IPOs of 2010
IPO Amount: $187.5M
Date: February 3
Range: $14 to $16
Actual price:
Scoop: Ironwood's lead candidate is the Phase III drug linaclotide, a potential treatment for irritable bowel syndrome and other gastrointestinal issues. Despite it's late-stage drug candidate, the developer fell far short of its projected $14 to $16 range, selling 16.7 million shares at $11.25 each. The company trades under the symbol IRWD.
In early November Ironwood and partner partner Forest Laboratories announced that linaclotide had successfully completed a second Phase III trial, and hopes to file an NDA in the third quarter of 2011.
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