Ironwood Pharmaceuticals Inc - Ordinary Shares - Class A

NASDAQ:IRWD   3:59:58 PM EDT
9.52
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Layoffs, Products, Other Pre-Announcement

Ironwood To Discontinue Iw-3718 Development Program Following Results From Planned Efficacy Assessment

Published: 09/29/2020 12:31 GMT
Ironwood Pharmaceuticals Inc (IRWD) - Ironwood to Discontinue Iw-3718 Development Program Following Results From Planned Efficacy Assessment.
Ironwood Pharmaceuticals Inc - Trial Did Not Achieve Statistically Significant Improvement in Heartburn Severity.
Ironwood Pharmaceuticals Inc - Expects Total Cost Savings of Greater Than $95 Million.
Ironwood - Plans to Implement Restructuring, Resulting in Expected Headcount Reduction of About 100 Full-time Employees, Or Nearly 35% of Current Workforce.
Ironwood Pharmaceuticals Inc - Plans to Discontinue Development of Iw-3718, Including Stopping Enrollment in Iw-3718-301, Second Phase Iii Trial.
Ironwood Pharmaceuticals Inc - Plans to Restructure Its Commercial Organization.
Ironwood - Remains Committed to Seeking to Maximize Linzess, and Commercial Efforts Are Being Designed to Focus Primarily on Gastroenterologists.
Ironwood - Confirmed Iw-3718-302 Did Not Meet Criteria, Including Primary Endpoint of Achieving Statistically Significant Improvement in Heartburn Severity.
Ironwood Pharmaceuticals Inc - Iw-3718 Was Generally Well-tolerated in Study Iw-3718-302.
Ironwood Pharmaceuticals Inc - Expects to Incur One-time Costs of About $10 Million to $12 Million in Connection With Discontinuing Development of Iw-3718.
Ironwood Pharmaceuticals - Following Organizational Restructuring Expects to Have About 210 Full-time Employees.
Ironwood Pharmaceuticals - Planned Workforce Reduction is Anticipated to Be Substantially Completed in Q1 of 2021.