Ironwood's LINZESS Gains FDA Approval for Pediatric Functional Constipation
IRWD has more than doubled off its 52-week low of $0.562 on light trading volume (0.2× avg).
Summary
Ironwood Pharmaceuticals secured FDA approval for LINZESS to treat functional constipation in children aged 2-5, expanding its key product's market to a new pediatric population. This approval for a new 72-mcg pediatric dose is a significant positive development, broadening the LINZESS franchise. The article also mentions a label expansion for Johnson & Johnson's TREMFYA, but this news was already reported yesterday.
At the time of this announcement, IRWD was trading at $3.55 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $584.4M. The 52-week trading range was $0.56 to $5.78. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: dpa-AFX.