Ironwood proposes $150 million follow-on

Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) proposed to raise $150 million in a follow-on underwritten by JPMorgan and BofA Merrill Lynch. Ironwood and partner Forest Laboratories Inc. (NYSE:FRX) market Linzess linaclotide in the U.S. to treat irritable bowel syndrome with constipation (IBS-C) and chronic idiopathic constipation (CIC). Forest reported $118.8 million in 2013 sales of the guanylate cyclase C ( GCC; GUCY2C) agonist, which the partners launched at the end of 2012. ...