By Jasmine Li
Shares of Ironwood Pharmaceuticals rose after it reported positive trial results for its treatment for short bowel syndrome with intestinal failure.
The gastrointestinal healthcare company's stock rose 10.6% to $4.38 in premarket trading Monday. Shares had previously hit a 52-week low of $3.79 in August.
Boston-based Ironwood said Monday morning the phase 3 trial for its apraglutide treatment showed consistent effects for adults across demographics. The trial also showed consistent effects on patients with varying lengths of remnant bowel, which is notable as this characteristic significantly impacts treatment and prognosis, the company said.
SBS-IF affects an estimated 18,000 adult patients in the U.S., Europe and Japan, according to Ironwood. Apraglutide is the first investigational once-weekly GLP-2 analog to successfully demonstrate positive results in a phase 3 placebo-controlled study, the company said.
Ironwood said it expects to complete U.S. regulatory submission in the first quarter of 2025.
Write to Jasmine Li at jasmine.li@wsj.com
(END) Dow Jones Newswires
October 28, 2024 08:09 ET (12:09 GMT)
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