Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) showed a rise in its stock price during pre-market. There is no news or press release available in context of this increase in company’s stock. IRWD is a company that aims to bring new and reliable differentiated therapies in order to treat gastrointestinal diseases which is a very common health issue among the masses. The company has also developed and advertising Linaclotide, which is considered as the most effective drug for adults with problems like constipation, Irritable bowel syndrome or chronic idiopathic constipation.
Ironwood Pharmaceuticals has recently attended two healthcare conferences; SVB Leerink Global Healthcare Conference on Friday, February 26, 2021 and Cowen Annual Health Care Conference on Tuesday, March 2. Whereas the management is set to attend its third conference for this year which is Barclays Global Healthcare Conference, on March 9, 2021
Also the company has announced its fourth quarter Q4 and full year 2020 results. Whereas the results are very different this time which show an increase of 20% in the earnings over the past year to $0.36 which has crossed the estimate of $0.29, while the revenue has decreased by 7.62% as per Q4 results.
The company has recorded an adjusted EBTIDA of $66M in fourth quarter of 2020, which was $54.5M in Q4 results of 2019. Similarly for the full year adjusted EBTIDA was $160.7M, compared to $147.8 million for the full year 2019.
The company has also made some Leadership changes in the last month when Ironwood announced that its CEO Mark Mallon has planned to resign from his position w.e.f March 12, 2021. The company has yet not decided the permanent replacement of Mr. Mallon whereas Thomas McCourt is now the interim the CEO. These are some of the recent events happened which might be the reason of change in IRWD stock.