Bigger than big

Despite the anemic IPO market, Ironwood Pharmaceuticals Inc. could be on track to complete the largest IPO ever for a development-stage biotech. The company last week upped the amount it hopes to raise to $250 million and officially launched its road show for an offering slated to go out around Feb. 2.

The new target, based on an anticipated 16.7 million shares at the mid-point of a $14-$16 range, would value the company at $1.4 billion...