Business
Ironwood Pharmaceuticals Reports Strong Fourth Quarter and Full Year 2019 Results, Exceeding Full Year 2019 Guidance; Provides Full Year 2020 Guidance
–2019 revenue of $428 million, driven primarily by U.S. LINZESS® (linaclotide) collaboration revenue– –GAAP net income from continuing operations of $59
About this update from Ironwood Pharmaceuticals, Inc.
[{"type":"text","content":"\n–2019 revenue of $428 million, driven primarily by U.S. LINZESS® (linaclotide) collaboration revenue–\n\n\n–GAAP net income from continuing operations of $59 million and adjusted EBITDA from continuing operations of $148 million for the full year 2019–\n\n\n–2020 total revenue and adjusted EBITDA guidance incorporates previously amended agreements with Astellas and AstraZeneca–\n\n\n–Data readouts from MD-7246 Phase II trial and IW-3718 Phase III trials expected in 2020–\n\n BOSTON--(BUSINESS WIRE)--\nIronwood Pharmaceuticals, Inc. (Nasdaq: IRWD), a GI-focused healthcare company, today provided an update on its fourth quarter and full year 2019 results and recent business performance.\n\n\n“2019 brought us a catalyzing opportunity to become a GI-focused healthcare company dedicated to advancing the treatment of GI diseases and redefining the standard of care for millions of patients,” said Mark Mallon, chief executive officer of Ironwood. “To do this, we are executing on our strategy to drive LINZESS growth, advance our late-stage GI portfolio, and deliver sustainable profits. We made substantial progress in 2019 across each of these priorities and expect 2020 to be another pivotal year. We are already off to a strong start having settled all outstanding LINZESS patent litigation, and we look forward to continued momentum through strong growth of LINZESS, top-line data readouts from MD-7246 and IW-3718, and further revenue generation in 2020.”\n\n\nFourth Quarter and Full Year 2019 Financial Highlights1\n\n\n\n\n \n\n\n\n(in thousands, except for per share amounts)\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n4Q 2019\n\n\n\n\n4Q 2018\n\n\n\n\nFY 2019\n\n\n\n\nFY 2018\n\n\n\n\n\nTotal revenues\n\n\n\n$\n\n\n\n126,301\n\n\n\n\n$\n\n\n\n130,692\n\n\n\n\n$\n\n\n\n428,413\n\n\n\n\n$\n\n\n\n346,639\n\n\n\n\n\nTotal costs and expenses\n\n\n\n \n\n\n\n76,708\n\n\n\n\n \n\n\n\n100,831\n\n\n\n\n \n\n\n\n308,290\n\n\n\n\n \n\n\n\n497,309\n\n\n\n\n\nGAAP net income (loss) from continuing operations\n\n\n\n \n\n\n\n47,858\n\n\n\n\n \n\n\n\n8,373\n\n\n\n\n \n\n\n\n58,943\n\n\n\n\n \n\n\n\n(194,146)\n\n\n\n\n\nGAAP net income (loss)\n\n\n\n \n\n\n\n47,858\n\n\n\n\n \n\n\n\n(15,493)\n\n\n\n\n \n\n\n\n21,505\n\n\n\n\n \n\n\n\n(282,368)\n\n\n\n\n\nGAAP net income (loss) per share – basic\n\n\n\n \n\n\n\n0.31\n\n\n\n\n ...