Ironwood Pharmaceuticals spun off its soluble guanylate cyclase business into its own entity, Cyclerio Therapeutics, to focus only on gastrointestinal therapies.
What you should know:
1. Ironwood's irritable bowel syndrome with constipation and chronic idiopathic constipation drug linaclotide is a commercial success with $264 million in collaboration revenue and $70 million in API sales in 2018.
2. Ironwood is hoping to build on that success with its developmental drug candidates. Ironwood is developing a persistent gastroesophageal reflux disease treatment and a pain treatment for irritable bowel syndrome with diarrhea sufferers.
3. Ironwood will continue to trade under its current symbol. Cyclerion began trading on the Nasdaq Stock Market on April 2, under the CYCN symbol.
4. Ironwood CEO Mark Mallon said, "Today marks the beginning of a new chapter for Ironwood, one that combines a strong drug development and commercial foundation with a sharpened focus on our core objective — creating medicines that make a difference for people living with GI diseases."