Ironwood Pharmaceuticals, a Cambridge, MA-based firm with a lead product candidate for chronic constipation, said in an SEC filing that it has set the price of its proposed initial public offering at $14 to $16 per share. The firm is aiming to sell 16.7 million shares of common stock in the IPO, which would make the stock sale worth up to $266.7 million—a good deal more than the initial $172.5 million estimate that the firm gave when it first disclosed plans for the maiden stock offering in November 2009. The company may also sell an additional 2.5 million shares to cover potential over-allotments. Plans are to trade the stock on the Nasdaq Global Market under the symbol “IRWD.”
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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