IRONWOOD PHARMACEUTICALS INC
IRWD evidence brief
What we can confirm
- BioSniper Score:
- 3.0 / 10
- Market Cap:
- $689.1M
- Next Catalyst:
- Patent_Expiry · Aug 16, 2033
What it means
What to watch
Prepared research question
What matters most for IRWD—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IRWD
IRONWOOD PHARMACEUTICALS INC (IRWD) is a biopharmaceutical company focused on the development and commercialization of linaclotide (LINZESS) for gastrointestinal conditions and apraglutide for short bowel syndrome, with a recent net income of $51.3M as of 2026-06-30 [sec].
Key risk: Confirmatory trial required
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Financial data as of Jun 30, 2026.
Tracking 1 clinical trial · 1 catalyst for IRONWOOD PHARMACEUTICALS INC.
IRONWOOD PHARMACEUTICALS INC (IRWD) is a biopharmaceutical company focused on the development and commercialization of linaclotide (LINZESS) for gastrointestinal conditions and apraglutide for short bowel syndrome, with a recent net income of $51.3M as of 2026-06-30 [sec].
- Reported net income of $51.3M and total revenue of $113.0M for the period ending 2026-06-30 [sec].
- Cash and equivalents of $79.1M as of 2026-06-30 [sec].
- Shareholders' equity of -$161.8M as of 2026-06-30 [sec].
- Apraglutide Phase III confirmatory trial STARS-2 initiated in June 2026 after FDA alignment [sec_mda · as of 2026-08-06].
- Linaclotide (LINZESS) is approved in the U.S. for IBS-C, CIC, and FC in various age groups [sec_mda · as of 2026-08-06].
What works
- Linaclotide (LINZESS) provides a steady revenue stream from approved indications in the U.S. and internationally [sec_mda · as of 2026-08-06].
- Apraglutide has completed a pivotal Phase III trial (STARS) and the confirmatory STARS-2 trial is underway, indicating progress in the pipeline [sec_mda · as of 2026-08-06].
- The company has a collaboration with Asahi Kasei Pharma for apraglutide in Japan, including upfront and milestone payments [pipeline].
- Management believes current cash, expected inflows, and borrowing capacity are sufficient to meet near-term needs [sec_mda · as of 2026-08-06].
What to weigh
- Shareholders' equity is negative at -$161.8M as of 2026-06-30 [sec].
- A confirmatory Phase III trial (STARS-2) is required for apraglutide approval, adding time and cost uncertainty [sec_mda · as of 2026-08-06].
- Linaclotide revenue is the primary source of income, and generics are expected by 2029, which could reduce future cash flows [news · published 2026-10-07].
- The company faces substantial ongoing expenses for development and commercialization, with no guarantee of positive cash flows [sec_mda · as of 2026-08-06].
From the filings
Quoted directly from source documents.
Apraglutide requires a confirmatory Phase III trial (STARS-2) for FDA approval.
“based on discussions with the U.S. FDA, a confirmatory Phase III clinical trial is needed to seek approval of a new drug application or NDA, for apraglutide for patients with SBS-IF who are dependent on PS.”
SEC MD&A · May 7, 2026
Linaclotide is approved in the U.S. for multiple indications.
“Our commercial product, LINZESS, is commercially available in the U.S. for the treatment of IBS-C in adults and pediatric patients 7 years of age and older, CIC in adults and FC in pediatric patients ages 2-17 years-old.”
SEC MD&A · August 6, 2026
Net income for Q1 2026 was $40.8 million.
“For the three months ended March 31, 2026 and 2025, we recorded net income of $40.8 million and a net loss of $37.4 million, respectively.”
SEC MD&A · May 7, 2026
Catalyst timeline
- 2033-08-16 · Patent_Expiry · LINACLOTIDE — Patent expiry for linaclotide (NDA202811) could open the door for generic competition, affecting revenue.
Risks & what to watch (4)›
Key risks
- Confirmatory trial required — FDA requires a confirmatory Phase III trial (STARS-2) for apraglutide approval, adding time and cost [sec_mda · as of 2026-08-06].
- Negative shareholders' equity — Shareholders' equity is -$161.8M as of 2026-06-30, indicating accumulated deficits [sec].
- Generic competition for Linzess — Linaclotide generics expected by 2029, potentially reducing primary revenue source [news · published 2026-10-07].
- Uncertain pipeline timelines — Development timelines and approval outcomes for pipeline candidates are highly uncertain [sec_mda · as of 2026-05-07].
What to watch
- Progress and recruitment for the STARS-2 confirmatory trial of apraglutide, initiated June 2026 [sec_mda · as of 2026-08-06].
- Linaclotide revenue trends and any impact from expected generic entry around 2029 [news · published 2026-10-07].
- Cash runway and ability to fund operations given negative equity and ongoing R&D expenses [sec].
- Any updates on linaclotide label expansions or new indications from the AbbVie collaboration [sec_mda · as of 2026-08-06].
Sources: News · Pipeline · SEC MD&A · Generated October 9, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Cash runway data unavailable
Net income $51M
No tracked pipeline phase
No tracked pipeline candidates
1 upcoming, next in ~2498d
0 buys · 2 sells (180d)
Catalysts
Regulatory
Financials
Short Interest
as of May 21, 2026- % of float
- 11.5%
- Days to cover
- 9.6
- Shares short
- 17,266,421
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IRWD short interestGovernance
Frequently asked questions
What is the AI investment thesis for IRONWOOD PHARMACEUTICALS INC?
IRONWOOD PHARMACEUTICALS INC (IRWD) is a biopharmaceutical company focused on the development and commercialization of linaclotide (LINZESS) for gastrointestinal conditions and apraglutide for short bowel syndrome, with a recent net income of $51.3M as of 2026-06-30 [sec].
What is IRONWOOD PHARMACEUTICALS INC's next catalyst?
IRONWOOD PHARMACEUTICALS INC's next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA202811" — expected August 16, 2033.
Who is the CEO of IRONWOOD PHARMACEUTICALS INC?
Mr. Thomas A. McCourt is the chief executive officer of IRONWOOD PHARMACEUTICALS INC (IRWD).
Where is IRONWOOD PHARMACEUTICALS INC headquartered?
IRONWOOD PHARMACEUTICALS INC (IRWD) is headquartered in Boston, MA, United States.
What therapeutic areas does IRONWOOD PHARMACEUTICALS INC focus on?
IRONWOOD PHARMACEUTICALS INC develops therapies across Gastroenterology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.