FDA requires confirmatory Phase 3 trial for apraglutide approval. Ironwood engaged Goldman Sachs to explore strategic alternatives. Strong efficacy data from STARS trial but lower than expected doses. Completion of NDA submission expected by Q3 2025. IRWD stock dropped 30.28% to 66 cents.
- IRWD reported an adjusted loss of 2 cents per share for Q1 2024. - Total revenues in Q1 were $74.9 million, missing estimates due to Linzess sales. - IRWD revised its 2024 revenue guidance downwards, causing a 17% stock decline. - IRWD is evaluating apraglutide in various studies for potential development and submission. - Shares of IRWD have plunged 41.1% year to date. Price Impact Rating: Bearish Impact Horizon Rating: Short-term Type: Earnings