Ironwood Sets IPO Price at $14-$16 Per Share

Ryan McBride1/20/10

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.”