Shares of Ironwood Move Lower Premarket After Study Fails To Meet Goals
May 27 2020 - 8:50AM
Dow Jones News
By Micah Maidenberg
Shares of Ironwood Pharmaceuticals Inc. fell about 5% in
premarket trading after the drugmaker said it and AbbVie Inc. would
stop working on developing a therapy aimed at patients experiencing
pain tied to irritable-bowel syndrome.
Ironwood said Wednesday that data from a Phase II trial
evaluating a therapy called MD-7246 didn't meet its primary or
secondary endpoints. The drug was aimed at treating adult patients
with abdominal pain associated with irritable bowel syndrome with
diarrhea.
"We are disappointed by the results from this study," Mark
Mallon, chief executive of Ironwood, said in a statement.
Ironwood and AbbVie plan to discontinue the development of
MD-7246, Ironwood said in a statement.
Shares of AbbVie were up 0.4% premarket.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
May 27, 2020 08:35 ET (12:35 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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