IRONWOOD PHARMACEUTICALS,INC. (NASDAQ:IRWD) Files An 8-K Results of Operations and Financial Condition
Item2.02 Results of Operations and Financial Condition.
On January8, 2017,Ironwood Pharmaceuticals,Inc. (Ironwood) issued
a press release detailing its corporate strategy. Although it has
not finalized its full financial results for the fourth quarter
and fiscal year ended December31, 2016,Ironwood disclosed, as
part of the press release, for the full year ended December31,
2016, expected U.S. net sales of LINZESS (linaclotide) of
approximately $625 million, representing an increase of more than
35 percent compared to the full year 2015, expected LINZESS
commercial margin of greater than 55 percent, expected Ironwood
revenue from LINZESS representing an increase of more than 60
percent compared to the full year 2015, expected Ironwood
milestone revenue of approximately $39 million and expected
Ironwood cash used for operations of less than $30 million.
LINZESS U.S. net sales are reported in the financial statements
of Allergan plc (Allergan) and LINZESS U.S. commercial costs
incurred by each of Allergan and Ironwood are reported in their
respective financial statements. Allergan is Ironwoods
collaboration partner for linaclotide in the United States and
certain other territories. A copy of the press release is
furnished as Exhibit99.1 and is incorporated herein by reference.
The information in this Item 2.02 and the press release is
unaudited and preliminary, and does not present all information
necessary for an understanding of Ironwoods financial condition
as of December31, 2016 and its results of operations for the
three months and year ended December31, 2016. The audit of
Ironwood and Allergans respective financial statements for the
year ended December31, 2016 is ongoing and could result in
changes to the information in this Item 2.02 and the press
Further, the information in this Item 2.02 and the press release
is being furnished to Item 2.02 of this Current Report on Form8-K
and shall not be deemed filed for purposes of Section18 of the
Securities Exchange Act of 1934, as amended (the Exchange Act),
or otherwise subject to the liabilities of that Section, nor
shall such information be deemed incorporated by reference in any
filing under the Securities Act of 1933, as amended, or the
Exchange Act except as shall be expressly set forth by specific
reference in such filing.
Item9.01 Financial Statements and Exhibits.
Ironwood Pharmaceuticals,Inc. Press Release dated January8,
About IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD)
Ironwood Pharmaceuticals, Inc. is a biotechnology company. The Company’s products Linaclotide provides patients and healthcare practitioners with a treatment option for adults in the United States and certain other countries with irritable bowel syndrome with constipation (IBS-C), chronic idiopathic constipation (CIC) and gastrointestinal (GI) disorders. It operates through human therapeutics segment. Linaclotide is also being developed and commercialized in other parts of the world by certain of its partners. It is engaged in developing therapeutic platforms for the treatment of vascular and fibrotic diseases, and refractory gastroesophageal reflux disease (GERD). Its IW-9179 is used for the treatment of gastroparesis and functional dyspepsia. The Company has conducted an exploratory Phase IIa clinical study of IW-3718 in patients with refractory GERD. It has two sGC development candidates, which include IW-1973 and IW-1701. IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD) Recent Trading Information
IRONWOOD PHARMACEUTICALS, INC. (NASDAQ:IRWD) closed its last trading session up +0.32 at 16.17 with 861,849 shares trading hands.