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Sarissa Capital increased its stake after securing a Board seat in Ironwood Pharmaceuticals

Market Cap: $1.5 billion | Ironwood Pharmaceuticals, Inc., a commercial biotechnology company, engages in the research, development, and commercialization of human therapeutic products.

 

  • On May 1, 2018, Sarissa Capital Management, starting with a 2.4% stake, filed proxy materials to elect its nominee as a Class II director, coinciding with the company's announcement of its intent to split into two independent publicly traded firms.

  • On May 31, 2018, shareholders reelected all three incumbent directors at the AGM, and Sarissa endorsed Ironwood’s leadership in pursuing the split, refraining from seeking a board seat.

  • On May 16, 2019, with a 6.1% stake, Sarissa praised the spinoff of the company's R&D business as a good first step towards enhancing shareholder value. Source

  • On February 26, 2020, Sarissa increased its stake to 7.9%.

  • On November 5, 2020, Alexander J. Denner, Ph.D., Sarissa's founder and CIO, was appointed to the board. Source

  • On March 1, 2021, Sarissa further increased its stake to 9.3%.

 

 

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