After trial miss, Ironwood and AbbVie drop mid-stage asset
Stock in Boston, USA-based gastroenterology specialist Ironwood Pharmaceuticals (Nasdaq: IRWD) dropped 9% on Wednesday, after the firm announced it would drop development of MD-7246.
The decision was made after top-line data showed a Phase II study missed its primary and secondary endpoints.
Working with Chicago’s AbbVie (NYSE: ABBV), Ironwood has been developing MD-7246 in adults with abdominal pain associated with irritable bowel syndrome with diarrhea (IBS-D).
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