IRWD battered about

IRWD has had a rough morning and is currently down ~5% on Friday’s close. As previously mentioned, I had moved my stop on Ironwood to my entry point ($14.40) so I was stopped out of the position just after noon for a flat trade. Disappointed with this but I still think the drug has a lot of potential so I will be looking for a re-entry point ahead of the PDUFA.

CHTP had an even worse morning with briefing documents released ahead of its upcoming Ad Comm meeting. The documents recommended that Northera not be approved and highlighted concerns over the drug’s safety profile. CHTP is down ~30% on this news.

SPPI also down this morning. Concerns about other companies producing generic fusilev apparently.

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