Ironwood Shares Jump on FDA Approval for Hyperuricemia Drug - Biotech Movers

Shares of Ironwood Pharmaceuticals Inc. (IRWD) rose nearly 7% to $15.50 ahead of the market open on Monday, Aug. 21, after the Cambridge, Mass.-based firm secured U.S. Food and Drug Administration approval for hyperuricemia drug Duzallo.

Duzallo is an oral treatment for hyperuricemia associated with gout in patients that have not achieved target serum uric acid (sUA) levels with a medically appropriate daily dose of allopurinol alone. Ironwood said it expects Duzallo to be commercially available in the early part of the fourth quarter.

Other biotech movers include Bellicum Pharmaceuticals Inc. (BLCM) , up nearly 3% to $8, and Inovio Pharmaceuticals Inc. INO, up 2.8% to $5.60.

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