Ironwood gains on Linzess sales

Ironwood Pharmaceuticals Inc. (NASDAQ:IRWD) jumped $1.14 (11%) to $11.31 on Tuesday after partner Forest Laboratories Inc. (NYSE:FRX) reported U.S. sales of constipation drug Linzess linaclotide that beat the consensus estimates. Linzess sales in the fiscal quarter ending March 31 were $60.8 million. According to Cowen's Edward Nash, the Street was expecting $54 million. The companies market the guanylate cyclase C ( GCC; GUCY2C) agonist in the U.S. for irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC).

Ironwood reported 1Q14 earnings on Tuesday, including revenues of $14.6 million, beating the Street's $8.5 million estimate. The company reported 1Q14 net loss per share of $0.38. ...