By Katherine Hamilton
Ironwood Pharmaceuticals shares sank after the company said it needs to conduct a confirmatory phase 3 trial of proposed short-bowel treatment apraglutide.
The stock hit a 52-week low in mid-morning trading, down 37% at 59 cents. With that, shares have lost 86% of their value this year.
The Boston company, which focuses on treatments for gastrointestinal diseases, said Monday it needs to conduct an additional phase 3 trial of apraglutide, a drug for patients with short-bowel syndrome and intestinal failure who are dependent on parenteral support.
Exposure and dose delivered in a phase 3 trial were lower than planned due to dose preparation and administration, Ironwood said. After discussing results with the Food and Drug Administration, it became clear the company needed a confirmatory phase 3 trial to get approval, Ironwood added.
Ironwood is now working on advancing the trial, while also exploring strategic alternatives in order to maximize shareholder value, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
April 14, 2025 10:11 ET (14:11 GMT)
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