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3 stories mentioning IRWDUpdated 33d ago

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Wire

Ironwood Says US FDA Approves Linzess Use in Children Aged Two Years and Older With Functional Constipation

Ironwood Pharmaceuticals (IRWD) has secured US Food and Drug Administration approval for expanded use of Linzess or linaclotide to treat younger pediatric patients with functional constipation, the company said Wednesday.The expanded label extends availability of the drug for children between the age of 2 and 5, Ironwood said. Linzess was previously approved for pediatric patients aged 6 and above, it added.The approval for pediatric patients ages 2-5 was supported by data from a 12-week phase 3 trial, which showed improvement in spontaneous bowel movement frequency compared with placebo, the company said.Shares of the company were 1.7% higher in Wednesday trading.Price: $3.96, Change: $+0.06, Percent Change: +1.41%

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Sectors

Sector Update: Healthcare Stocks Higher Late Afternoon

Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 0.9% and the State Street Healthcare Select Sector SPDR ETF (XLV) increasing 0.7%.The iShares Biotechnology ETF (IBB) rose 0.3%.In corporate news, Corcept Therapeutics (CORT) shares rose past 11% after UBS Securities upgraded the stock to buy from neutral and raised its price target to $72 per share from $44.Ironwood Pharmaceuticals (IRWD) fell 10% after the company said Gregory Martini is resigning from his role as chief financial officer, effective May 15.Personalis (PSNL) shares jumped 6% after the firm said the Molecular Diagnostic Services Program of the Centers for Medicare & Medicaid Services has expanded coverage for its NeXT Personal minimal residual disease test.Assertio (ASRT) shares rose 3.4% after the company said Wednesday it has agreed to be acquired by Zydus Lifesciences subsidiary Zydus Worldwide DMCC in an all-cash tender offer valued at about $166.4 million.

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Wire

Ironwood Pharmaceuticals CFO Gregory Martini Resigns

Ironwood Pharmaceuticals (IRWD) said Chief Financial Officer Gregory Martini resigned, effective Friday.Ronald Silver, 44, the corporate controller and chief accounting officer, will serve as interim CFO and principal financial officer, the company said Wednesday in a regulatory filing.Price: $3.79, Change: $-0.30, Percent Change: -7.33%

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