Market Overview

Ironwood, Allergan Investors React Positively After Duo's Constipation Drug Found Effective

Share:
Ironwood, Allergan Investors React Positively After Duo's Constipation Drug Found Effective

Shares of the small-cap, actively traded Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) were seeing positive momentum Wednesday on top of the 8.08% gain the stock recorded Tuesday.

What Happened

Ironwood and Allergan plc (NYSE: AGN) announced positive topline results from a Phase 3b study evaluating Linzess 290 mcg for multiple abdominal symptoms in adult patients with irritable bowel syndrome with constipation, or IBS-C.

The companies said the late-stage study met the primary multicomponent endpoint of the drug, when administered orally once-daily, demonstrating an improvement in overall abdominal symptoms of bloating, pain and discomfort in adult patients with IBS-C compared to placebo.

Linzess also met the secondary endpoints of showing a clinically meaningful response, as defined by the abdominal symptom score responder, of a patient seeing an improvement of at least two points from the baseline in a weekly abdominal score for the last six of the 12 weeks of treatment.

The late-stage study also confirmed the safety of Linzess.

Why It's Important

Linzess, an FDA-approved drug for IBS-C or chronic idiopathic constipation, or IDC, is marketed in the U.S. by Ironwood and Allergan.

About 95% of adults with IBS-C experience bothersome abdominal bloating, pain and/or discomfort, the companies said, citing research estimates. An estimated 13 million adults in the U.S. suffer from IBS-C.

"I believe the data from this LINZESS Phase 3b trial will be very important in helping patients and physicians have a more comprehensive dialogue about the multiple symptoms associated with IBS-C," Lin Chang, professor of medicine at UCLA, said in a statement. 

Ironwood shares were up 5.48% at $12.13 at the time of publication Wednesday, while Allergan shares were up 3.49% at $124.87. 

Related Links:

Stoke Therapeutics IPO: What You Need To Know

The Daily Biotech Pulse: Positive Readouts From Adamas And Ironwood, Sesen Bio To Offer Shares, Stoke Therapeutics Debut

Posted-In: LinzessBiotech News Trading Ideas General Best of Benzinga

 

Related Articles (AGN + IRWD)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Efficiency And Social Responsibility Go Together For Shipper Of Choice Kraft Heinz

Oregon Truckers Plot Strategy As Historic Cap-And-Trade Bill Inches Closer To Passage