Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) today announced that it has commenced an underwritten public offering of 10,500,000 shares of its Class A common stock. All of the shares are being offered by Ironwood. The Company will grant the underwriters a 30-day option to purchase up to an additional 1,575,000 shares in connection with the offering. -- Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) today announced the pricing of an underwritten public offering of 10,500,000 shares of its Class A common stock at a price of $13.00 per share to the public. All of the shares are being offered by Ironwood. The gross proceeds to Ironwood from this offering are expected to be approximately $136.5 million, before deducting underwriting discounts and commissions, and other estimated offering expenses payable by Ironwood. The offering is expected to close on May 24, 2013, subject to the satisfaction of customary closing conditions.
Ironwood Pharmaceuticals is engaged in discovering and developing medicines. Co.'s lead product candidate is linaclotide, a guanylate cyclase type-C agonist being developed for the treatment of patients with irritable bowel syndrome with constipation and chronic constipation. Co. also has several early development candidates in several therapeutic areas, including gastrointestinal disease, central nervous system disorders and respiratory disease, including IW-9179, which is in early development for the treatment of painful gastrointestinal disorders of the small intestine such as dyspepsia and gastroparesis.
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