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Ironwood Puts It Bluntly: Denner Lacks Case To Join Board, Wouldn’t Provide Missing Insight

 
• By Joseph Haas

Citing concerns that Linzess might not hit the blockbuster threshold by 2020, as predicted by Ironwood, one analyst lowers the firm’s stock rating on the same day the company clarifies that it does not want activist investor Alex Denner to join its board.

Two businessmen pulling a rope, closeup shot tug of war

After dancing around the subject for a few weeks, Ironwood Pharmaceuticals Inc. made clear in an investor presentation and release issued May 9 that it opposes the possibility of activist investor Alex Denner joining its board as an independent director. The Cambridge, Mass.-based firm holds its annual shareholders meeting on May 31, with three of its nine directors up for re-election to the board.

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