Ironwood gastrointestinal news
Ironwood will reduce headcount by about 53 (10%) to about 480 and will focus on the commercialization of Linzess linaclotide and its gastrointestinal pipeline. Ironwood said the reductions affect teams throughout the company, but field-based sales and medical science liaison teams are excluded from the reduction. The company expects the reductions to be completed this quarter. Sales of Linzess for the nine months ended Sept. 30, 2013, were $67.7 million. Linzess is a guanylate cyclase C ( GCC; GUCY2C) agonist. In addition to Linzess, Ironwood is developing IW-9179, a GCC agonist that is in Phase II testing to treat functional dyspepsia. At Sept. 30, 2013, the company had $242.4 million in cash and a nine-month operating loss of $205.3 million. Ironwood plans to announce additional financial details in its 4Q13 and 2013 earnings on Jan. 21. ...