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OMG, earnings are so embarrassing, really
no chance whatsoever for that.
quote :...."TLSR: Ironwood certainly has the first-mover advantage, and Synergy is probably looking forward at least 24 months before plecanatide could be on the market.
GM: I agree, though Synergy's drug may take longer than 24 months because the company still has to do a large Phase 3 trial. Also, Ironwood has several thousand patients in a safety database, and Synergy has that to do as well.
from May 16, 2014 J.P.Morgan investor conference / interview, see:
http://www.hispanicbusiness.com/2014/5/16/j_p_morgan_s_geoff_meacham.htm
In one year, SGYP will have best in class replacement drug on the market. Less side effects. They have no debt, and 100 percent ownership, sell these 150 shares at a profit if you can
this is interesting: as of today, Nasdaq reports the institutional ownership of IRWD as 111%
http://www.nasdaq.com/symbol/irwd/institutional-holdings
IMHO, this is in line with the ongoing hedge fund short covering as of late (see I-Box); the public IRWD float is so small, that they have to temporarily borrow from institutions to cover.
in case of unexpectedly or better than expected news, this could provide for a nice short squeeze...
good read:
http://www.investopedia.com/ask/answers/07/institutional_holdings.asp
near term event: 2Q Earnings Call on Aug 4th:
http://finance.yahoo.com/news/ironwood-pharmaceuticals-host-second-quarter-200000816.html
Took a small position today, about 150 shares. Interested in what people believe the near term looks like.
Thanks for your input just getting my feet wet and learning a few things.
short volume updated (see I-Box).
interestingly, as of 06/30/2014, Synergy's (SGYP) short volume (~16.2 million shares) overtook Ironwood's (IRWD) short volume (~13.5 million shares)...
(per NASDAQ website)
http://www.nasdaq.com/symbol/irwd/short-interest
http://www.nasdaq.com/symbol/sgyp/short-interest
note: I-Box update (with up-to-date short volume numbers).
short volume has been consistently decreasing since the end of last year, from ~22.4 mill to ~15.2 mill, as of 06/13/2014.
hedge funds less comfortable with their large short positions here ??
IRWD broke through the previous 52wk high yesterday.
here's another noteworthy quote from that article:
(quote): "...Synergy Pharmaceuticals Inc.is starting two Phase 3 trials with its constipation drug candidate, plecanatide, which would be a competitor to Linzess. Does that put pressure on Ironwood?
GM: Our view is that it doesn't, for a couple of reasons. The first is that the theoretical differentiation for the Synergy drug was that it would have a lower rate of diarrhea, which is one of the most common adverse events with Ironwood's Linzess. The efficacy was presumed to be equal. What we know now, from Phase 2/3 trials, some released last year, is that for diarrhea, plecanatide looks largely similar. It is not differentiated in that respect. Its efficacy is not exactly equal. It's going to be difficult to market a drug like plecanatide in a primary care setting when it isn't any different from Linzess. ..."
quote from:
http://www.hispanicbusiness.com/2014/5/16/j_p_morgan_s_geoff_meacham.htm
Ironwood Pharmaceuticals, Inc. (IRWD) will present a corporate update at the Goldman Sachs 35th Annual Global Healthcare Conference on Wednesday, June 11, 2014 at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time:
http://investor.ironwoodpharma.com/events.cfm
wasn't able to find a transcript of the May 30 JP Morgan conf. call, but they did confirm their 'overweight' rating for IRWD ($22 price target) earlier last month:
http://zolmax.com/investing/ironwood-pharmaceuticals-receives-overweight-rating-from-jpmorgan-chase-co-irwd/257386/
Ironwood Pharmaceuticals Stock Rating Upgraded by Bank of America (IRWD)
http://tickerreport.com/banking-finance/195849/ironwood-pharmaceuticals-stock-rating-upgraded-by-bank-of-america-irwd/
broke through both the 50 and 200 day moving averages last month
Updated short volume numbers (source: Nasdaq website)
Settlement Date Short Interest
5/15/2014 16,649,088
4/30/2014 17,024,868
4/15/2014 17,760,947
3/31/2014 18,224,084
3/14/2014 17,725,236
2/28/2014 17,438,156
2/14/2014 21,280,688
1/31/2014 21,806,618
1/15/2014 21,652,243
12/31/2013 22,378,583
Total outstanding shares: 120 million (as of 03/31/2014)
Institutional ownership: >95%, see :
http://www.nasdaq.com/symbol/irwd/institutional-holdings
I'll try to keep this table up-to-date, no guarantees though :)
JPMorgan Analyst Meacham hosts a conference call with CEO Hecht on May 30 at 10 am, see:
http://www.theflyonthewall.com/permalinks/entry.php/IRWDid2016895/IRWD-Ironwood-has-a-conference-call-hosted-by-JPMorgan
If I find a dial in link and/or transcript, I'll post it here.
this is a good article analyzing (among others) IRWD & its potential, by the great Geoff Meacham (JP Morgan), one of the best analysts in the business:
http://www.hispanicbusiness.com/2014/5/16/j_p_morgan_s_geoff_meacham.htm
quote: "...Unfortunately, it's been heavily shorted by a lot of hedge funds because every growth story needs a mystery, and there isn't a lot of mystery with Ironwood. There isn't a game-changing Phase 3 data set that's imminent. So if you're a hedge fund, and you have to pick a stock--one without any big catalysts on the horizon--this may be your stock for a short."
Thanks for the info!
GILD has my attention lately. Nice trader and $$$$$$$$$
if you set the screening crit. to >=95% institut. ownership, only 8 biotechs (or 4 pharmaceutical companies) will pop up. I would invite you to take a look at their 5 yr charts.
Along those lines, IRWD is just at the beginning of their journey, in my humble opinion only, of course.
here's a hint - pick any 5 public biotechs with institutional ownership of >93% and look at their 5yr charts. anything they appear to have in common ?
remember , there's only a small public float ~ 2- 3 mill shares due to ~98% inst. ownership. Combine that with the high (~ 18 mill. Shares last I checked) short volume, and voila.
Looks like the stock has ibs. Definitely constipated lmao.
Smart money will own it at $10 too. Oh and at $13 before.
like you said, in YOUR opinion.
clearly, smart money (i.e., not yours) sees it differently: IRWD institutional ownership is 98% !
out of the largest 10 institutional owners, 9 have lately increased their stake. 3 of them by more than 10%, 2 of those by more than 20% (per nasdaq website).
The CEO (Peter Hecht) has consistently increased his ownership & now owns close to 4 mill shares, as many as Blackrock, the 10th largest institutional owner.
did you see how quickly February's share offering sold ?
good enough for me.
link:
http://www.nasdaq.com/symbol/irwd/institutional-holdings
This company has more holes in its financials than the titanic imo.
ooops. Forest buyout by Actavis. looks like the shorts got caught with their pants down. good luck covering those 20+ million shorts now ROFL
looks like only Zack's got it right & a lot of folks miscalculated = short squeeze going on IMO. according to the NASDAQ website, ~ 20 days to cover. good luck with that LOL
9:16AM Ironwood Pharma is reducing headcount by ~ 10% to align its workforce with its strategy to grow a leading gastrointestinal therapeutics co; estimates that it will incur aggregate charges of ~ $4.0 mln to $4.5 mln for severance and benefit costs (IRWD) 11.43 : Co announced that it is reducing headcount by ~ 10% to align its workforce with its strategy to grow a leading gastrointestinal therapeutics company. Co estimates that it will incur aggregate charges of ~ $4.0 million to $4.5 million for severance and benefit costs in connection with its reduction in workforce, of which ~ 85% to 95% are expected to result in cash expenditures. The reduction in workforce is expected to be complete during the first quarter of 2014. The Company continues to focus on driving growth through productive and efficient operations, and expects continued reductions in net cash used in operating activities in 2014 through continued revenue growth and expense management. More information regarding the reduction in workforce is available in the Form 8-K Ironwood filed today with the SEC.
very high short volume, see: http://www.nasdaq.com/symbol/irwd/short-interest
Why is this stock crashing down????
Looks like its time to sell before Bankruptcy!!!
ah, the the sweet smell of shortys burning, nothing like it....
8:05AM Ironwood Pharma and AstraZeneca (AZN) initiate Linaclotide Phase III Trial in China for adults with IBS-C (IRWD) 13.25 : IRWD and AZN announced the initiation in China of a Phase III clinical trial of linaclotide for the treatment of adults with irritable bowel syndrome with constipation (IBS-C). Linaclotide is currently approved in the United States for adults with IBS-C or chronic idiopathic constipation (CIC) and in the European Union for adults with moderate to severe IBS-C.
Ironwood and AstraZeneca anticipate the availability of top-line data in the first half of 2015 and, if approved by the China Food and Drug Administration (CFDA), anticipate that linaclotide could be commercialized in China in 2017.
Based on a collaboration announced in October 2012, Ironwood and AstraZeneca are jointly responsible for the development and commercialization of linaclotide in China, with AstraZeneca primarily responsible for local operational execution. Under the terms of the collaboration, AstraZeneca made an upfront payment of $25 million to Ironwood, and the two companies will share the net profits and losses associated with linaclotide in China, with AstraZeneca carrying 55 percent of each until a certain specified milestone is achieved, moving to a 50/50 split thereafter. Ironwood is also eligible for $125 million in additional commercial milestone payments contingent on the achievement of certain sales targets.
http://www.nasdaq.com/symbol/irwd/short-interest
~20 million shares short interest (settled 08/15, so around the $ 11 range)
...and they need to cover pretty soon...
what is that burnt smell in the air I wonder ?
looks like someone took the Cantor Fitzgerald price target as solid investing advice LOL....
$IRWD - Ironwood Pharmaceuticals Announces Proposed Public Offering of Common Stock
May 20, 2013 16:05:00 (ET)
CAMBRIDGE, Mass., May 20, 2013 (BUSINESS WIRE) -- Ironwood Pharmaceuticals, Inc. today announced that it has commenced an underwritten public offering of 10,500,000 shares of its Class A common stock. All of the shares are being offered by Ironwood. The Company will grant the underwriters a 30-day option to purchase up to an additional 1,575,000 shares in connection with the offering.
The Company intends to use the net proceeds from this offering to support the commercial launch of LINZESS(R) (linaclotide) in the U.S. and to fund linaclotide development opportunities to strengthen the clinical profile of LINZESS and expand the product label for additional populations and indications, in addition to general corporate purposes.
J.P. Morgan and BofA Merrill Lynch are acting as joint bookrunning managers and as representatives of the underwriters for the offering. Morgan Stanley is acting as bookrunning manager for the offering. A preliminary prospectus supplement related to the offering will be filed with the Securities and Exchange Commission (SEC) and will be available on the SEC's website located at www.sec.gov . Copies of the preliminary prospectus supplement and the accompanying prospectus relating to this offering may be obtained from the offices of: J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (telephone number:866-803-9204) or from BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention: Prospectus Department or by emailing dg.prospectus_requests@baml.com. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The final terms of the offering will be disclosed in a final prospectus supplement filed with the SEC.
The securities described above are being offered by Ironwood pursuant to an automatically effective shelf registration statement that was previously filed with the SEC. The press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of the securities, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Ironwood Pharmaceuticals
Ironwood Pharmaceuticals is committed to the art and science of making medicines, from discovery through commercialization. We're focused on three goals: transforming knowledge into medicines that make a difference for patients, creating value that will inspire the continued support of our fellow shareholders, and building a team that passionately pursues excellence. Our first product, linaclotide, is approved in the United States and Europe. Our pipeline priorities include exploring further opportunities for linaclotide, leveraging our deep expertise in functional gastrointestinal disorders, and advancing programs in other areas such as allergic conditions, cardiovascular disease, central nervous system disorders and other conditions defined by patient symptoms. Ironwood was founded in 1998 and is headquartered in Cambridge, Mass.
This press release contains forward looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including, but not limited to, statements relating to Ironwood's expectations regarding the completion, timing and size of the proposed offering and use of proceeds. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement. Applicable risks and uncertainties include, but are not limited to, those associated with market conditions and the satisfaction of customary closing conditions related to the proposed offering. Applicable risks also include those that are included in Ironwood's Quarterly Report on Form 10-Q for the three months ended March 31, 2013, in addition to the risk factors that are included from time to time in Ironwood's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and any subsequent SEC filings, including the prospectus supplement related to the proposed offering to be filed with the SEC. Ironwood undertakes no obligation to update these forward-looking statements to reflect events or circumstances occurring after this press release. These forward-looking statements speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement.
http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130520006281r1&sid=cmtx4&distro=nx
SOURCE: Ironwood Pharmaceuticals, Inc.
Ironwood Pharmaceuticals
Media Relations
Lisa Buffington, 617-374-5103
Vice President, Corporate Communications
lbuffington@ironwoodpharma.com
or
Investor Relations
Meredith Kaya, 617-374-5082
Associate Director, Investor Relations
mkaya@ironwoodpharma.com
7:17AM Ironwood Pharma misses Q1 ests (IRWD) 17.89 : Reports Q1 (Mar) loss of $0.87 per share, $0.16 worse than the Capital IQ Consensus Estimate of ($0.71); revenues fell 73.0% year/year to $3.3 mln vs the $7.21 mln consensus.
"We and Forest have made significant process advancing LINZESS during the first few months of commercialization, and the positive response from patients and physicians is very encouraging. There have been a number of favorable early decisions made by key national payers, and the integrated Ironwood and Forest sales and marketing team is executing at a high level. While it's still early, and we have more work to do to deliver LINZESS to patients in need, everything we are seeing reinforces the substantial opportunity for LINZESS to treat adults with IBS-C or CIC and to dramatically grow this category over the coming years."
More than 70,000 LINZESS prescriptions have been filled since the launch of LINZESS on December 17, 2012 through April 12, 2013, according to IMS Health. LINZESS net product sales, as reported by Forest Laboratories, Inc., were $4.5 million in the first quarter of 2013. Ironwood and Forest continue to introduce LINZESS to the physician community in the U.S. To date, more than 50% of high prescribing gastroenterologists and ~20% of high prescribing primary care physicians have prescribed LINZESS. The cos have ongoing discussions with payers to seek broad unrestricted access for patients. As of April 2013, ~75% of adult IBS-C or CIC patients with commercial insurance have unrestricted access to LINZESS.
Helping Tie Up A Peptide Drug’s Loose Ends
Case Study #1: Ironwood works with peptide makers and others to turn its cross-linked molecule into a drug
http://cen.acs.org/articles/91/i9/Helping-Tie-Peptide-Drugs-Loose.html
9:29AM Ironwood Pharma promotes Mark Currie to Senior Vice President, Chief Scientific Officer, and President of R&D (IRWD) 13.30 :
7:08AM Ironwood Pharma beats by $0.02, beats on revs (IRWD) 14.74 : Reports Q4 (Dec) loss of $0.41 per share, $0.02 better than the Capital IQ Consensus Estimate of ($0.43); revenues fell 16.1% year/year to $27 mln vs the $16.17 mln consensus.
6:00AM Ironwood Pharma: Constella (linaclotide) approved in Europe for the treatment of irritable bowel syndrome with constipation in adults (IRWD) 10.79 : Co and Almirall, S.A. announced that the European Commission has granted marketing authorization to Constella (linaclotide 290mcg) for the symptomatic treatment of moderate to severe Irritable Bowel Syndrome with Constipation (IBS-C) in adults. Almirall expects to begin launching Constella in Europe in the first half of 2013.
9:10AM Ironwood Pharma and AstraZeneca announce linaclotide collaboration for China (IRWD) 12.50 : AstraZeneca (AZN) and Ironwood Pharmaceuticals (IRWD) announced today an agreement to co-develop and co-commercialize Ironwood's linaclotide in China. The 2 cos are jointly responsible for strategic oversight of the development and commercialization of linaclotide in China. AZN will have primary responsibility for the local operational execution. Also, AZN will make an upfront payment of $25 mln to IRWD and will share the net profits and losses associated with linaclotide in China, with AZN carrying 55% of each until a certain specified milestone is achieved, moving to a 50/50 split thereafter. IRWD will also be eligible for $125 mln in additional commercial milestone payments contingent on the achievement of certain sales targets. In addition, the cos also announced their agreement that IRWD's sales force of ~160 sales specialists will promote AstraZeneca's NEXIUM in the US.
Does anyone know if the $85 million payment from FRX will be on the next earnings report?
8:00AM Ironwood Pharma announces Linaclotide received positive CHMP opinion for the treatment of IBS-C; Linaclotide was found to significantly improve abdominal pain/discomfort and relief of other IBS-C symptomsi (IRWD) 13.93 : Co announced that the European Committee for Medicinal Products for Human Use has issued a positive opinion recommending the marketing approval for Constella? (linaclotide 290 micrograms), for the symptomatic treatment of moderate to severe irritable bowel syndrome with constipation in adults. The CHMP positive opinion is a recommendation to the European Commission (EC) and one of the final steps in the review of a marketing authorization application. The EC usually follows the recommendations of the CHMP. Once approved, it will be marketed under the brand name Constella. This positive recommendation is based on the efficacy and safety of linaclotide evaluated in two double-blind, placebo-controlled Phase III clinical studies. The clinical trials involved ~1,600 adult patients, of which more than 800 were treated with linaclotide 290 mcg. In both trials, treatment with linaclotide resulted in statistically significant improvements in both abdominal pain/discomfort and degree of relief of IBS-C symptoms (co-primary endpoints), as well as complete spontaneous bowel movement frequency, stool consistency and severity of straining and bloating (secondary endpoints). These improvements were maintained over the entire treatment period. The incidence of adverse events was similar in both studies, with diarrhoea being the most common adverse event in linaclotide-treated patients.
Not sure if the fundamentals are going to help this. Should we expect to see the $85M payment from FRX on the next earnings report?
I think we could expect new highs after the fourth quarter.
Held 12.40 which was double top zone on early approval day. How high does she go?
Ironwood-Forest Irritable Bowel Therapy Wins FDA Approval
By Meg Tirrell and Drew Armstrong - Aug 30, 2012 4:11 PM ET
Ironwood Pharmaceuticals Inc. (IRWD) and Forest Laboratories Inc. (FRX) won U.S. regulatory approval of their linaclotide treatment for irritable bowel syndrome with constipation.
The therapy was also approved for chronic constipation, the Food and Drug Administration said today in a statement. As many as 11 million Americans have irritable bowel syndrome with constipation, a disorder that causes abdominal pain, according to Cambridge, Massachusetts-based Ironwood.
Linaclotide will compete with Takeda Pharmaceutical Co. (4502)’s Amitiza, which generated 18.7 billion yen ($237.6 million) for the Japanese drugmaker in the 12 months ended in March. Peak sales for linaclotide may reach $1.35 billion, Edward Nash, an analyst with Cowen & Co., said in an Aug. 28 interview. The drug may help reduce patients’ pain, an important element in the treatment of IBS-C, he said.
“That’s the really big differentiator for the drug,” Nash said by telephone. “At the end of the day, why is a patient going to even come to the doctor? Yes, it’s because they’re constipated or have diarrhea, but it’s the pain associated with that that’s so significant.”
Linaclotide was developed by Ironwood with New York-based Forest Labs, and the companies will co-promote the drug in the U.S. Ironwood licensed the drug in Europe to Barcelona, Spain- based Almirall SA (ALM), and to Tokyo-based Astellas Pharma Inc. (4503) for several Asian countries.
Sales Schedule
Ironwood and Forest will start selling the drug in the fourth quarter of this year, said Ironwood Chief Executive Officer Peter Hecht.
The FDA approved the drug without a restriction on how long patients should use it for, which could help sales, he said. “With that in the label, and the demonstrated pain relief, we think we can do an effective job educating patients and physicians,” Hecht said in a telephone interview today.
Forest rose 1.1 percent to $35.04 at 4 p.m. New York time. Ironwood’s shares fell 1.9 percent to $12.42.
Biotechnology stocks typically gain prior to regulatory approval and then decline subsequently, as some investors take profits and seek to avoid the stumbles that companies often experience selling their new therapies for the first time.
Linaclotide was shown in studies to help alleviate abdominal pain and symptoms of constipation. The most common side effect was diarrhea, which might be expected “as a side effect for treating constipation; you’re going to overshoot the mark,” Nash said.
Takeda’s Amitiza is co-marketed with Sucampo Pharmaceuticals Inc. (SCMP) Corey Davis, an analyst with Jefferies & Co. in New York, said that Takeda’s drug won’t pose much competition for linaclotide.
“It’s barely even a drug,” Davis said in a telephone interview. “The side effects are so severe that this is going to blow it away.” The approval had been expected by investors, who were selling the stock on the news, he said.
Davis said linaclotide sales may reach $2 billion. “This is going to be one of the most important drugs in the entire industry in the next couple years,” he said.
To contact the reporters on this story: Meg Tirrell in New York at mtirrell@bloomberg.net; Drew Armstrong in New York at darmstrong17@bloomberg.net
To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net
________________________________________________
http://www.bloomberg.com/news/2012-08-30/ironwood-forest-irritable-bowel-therapy-wins-fda-approval.html
IRWD
shorty burning!
squeeeeeeeeze em. want mid 13s minimum
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http://www.ironwoodpharma.com/
http://finance.yahoo.com/q/ks?s=IRWD+Key+Statistics
Ironwood Pharmaceuticals, Inc. discovers, develops, and commercializes medicines targeting therapeutic needs. The company is developing Linaclotide, a first-in-class compound that is in confirmatory Phase III clinical trials for the treatment of irritable bowel syndrome with constipation, chronic constipation, and other lower gastrointestinal conditions. It also focuses on one Phase I pain drug candidate and multiple preclinical programs, as well as on building a specialty biochemicals business based on a proprietary strain-development platform. The company has a collaboration agreement with Forest Laboratories, Inc. to jointly develop and commercialize linaclotide in North America; a license agreement with Almirall, S.A. to develop and commercialize linaclotide in Europe; a license agreement with Astellas Pharma Inc. that provides Astellas Pharma with the right to develop and commercialize linaclotide in Japan, South Korea, Taiwan, Thailand, the Philippines, and Indonesia. It was formerly known as Microbia, Inc. and changed its name to Ironwood Pharmaceuticals, Inc. in April 2008. The company was founded in 1998 and is headquartered in Cambridge, Massachusetts.
Overview article on Linaclotide, the company's lead drug: http://en.wikipedia.org/wiki/Linaclotide
Updated IRWD short volume numbers (source: www.nasdaq.com)
Settlement Date Short Interest
11/28/2014 14,593,658
11/14/2014 14,892,420
10/31/2014 14,952,106
10/15/2014 16,259,737
9/30/2014 15,155,353
6/30/2014 13,498,802
3/31/2014 18,224,084
12/31/2013 22,378,583
Total outstanding shares: 120 million (as of 03/31/2014)
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