Ironwood Shares Eye 3.5-Year High

Ironwood Pharmaceuticals shares were higher over 6% in recent pre-market trade as it and Allergan (AGN) said a phase 2b clinical trial showed irritable bowel syndrome patients treated with its linaclotide colonic release-1 300 mcg saw a 56.2% improvement in abdominal pain relative to placebo.

IRWD was at $17 recently, the highest level in three and a half years, if it holds into regular trading. The current 52-week range is between $7.35 and $16.89.

The trial is evaluating the drug in adult patients with irritable bowel syndrome with constipation. The companies said the percentage of patients to report at least a 30% reduction from baseline in abdominal pain and an increase of at least one complete spontaneous bowel movement from baseline was 38.8% compared to 21.2% for placebo and 31.8% for IR 290 mcg.

The average weekly change in CSBM frequency from baseline to week 12 was 1.78 for CR1 300 mcg compared to 1.11 for placebo and 2.11 for IR 290 mcg. This translates to a 59.3% improvement in CSBM frequency with CR1 300 mcg relative to placebo, the companies said.

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