Premarket Biotech Movers: Ironwood Pharmaceuticals, Rigel Pharmaceuticals, FibroGen
biotech | January 30, 2017
Shares of Ironwood Pharmaceuticals (IRWD) jumped nearly 20%, to $16.75, in premarket trading on Monday after Astellas Pharma and Ironwood on Sunday revealed positive top-line results from a phase III clinical trial of linaclotide conducted in Japan in adults with chronic constipation. Today's positive phase III results for linaclotide in chronic constipation mark the ninth phase III/IIIb clinical trial in which linaclotide has met its primary endpoints, once again demonstrating consistent results in clinical trials across two indications.