Ironwood Pharmaceuticals delays 10-K and expects a material weakness finding

Ironwood Pharmaceuticals, Inc. said on March 3, 2025 that it could not file its annual report on Form 10-K for the year ended December 31, 2024 on time.

The company filed a Form 12b-25, a notification of late filing. The form gives a company a short extension. For an annual report, it runs to the fifteenth calendar day after the due date, and Ironwood said it expects to file by then.

Ironwood said that, based on currently available information, it expects to report one or more material weaknesses in its internal controls. A material weakness is a gap in controls that creates a reasonable chance that a material error in the financial statements will not be caught. The company said it expects its internal control over financial reporting "will be ineffective as of December 31, 2024."

The company said it needs more time to complete management's assessment of those controls and to finalize the report.

Ironwood said it does not anticipate any significant changes in results of operations. It issued its full-year results on February 27, 2025 in a press release furnished on Form 8-K. The notice refers to the company's ongoing review of its financial statements. It lists financial statement adjustments identified while completing the controls assessment and finalizing the 10-K as a factor that could change its expectations.

The notice is available as a Form 12b-25.

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