Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD

Ironwood Pharmaceuticals — Q1 2020 Earnings Presentation

22 slides from Ironwood Pharmaceuticals's earnings presentation, May 6, 2020

  1. Slide 1: Ironwood 1Q 2020 Earnings

    Ironwood 1Q 2020 Earnings May 6, 2020

  2. Slide 2: Introduction

    Introduction Meredith Kaya

  3. Slide 3: Safe Harbor Statement

    Safe Harbor Statement This presentation contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about our ability to execute on our vision to become a leader in GI; our ability to resume in person work practic

  4. Slide 4: Today's Agenda

    Today’s Agenda • Introduction Meredith Kaya, VP Strategy, Investor Relations & Communications • Overview Mark Mallon, Chief Executive Officer • Commercial and Pipeline Performance Tom McCourt, President • 1Q Financial Highlights & 2020 Guidance Gina Consylman, Chief Financial Officer 4

  5. Slide 5: 1Q 2020 and COVID-19 Overview

    1Q 2020 and COVID-19 Overview Mark Mallon

  6. Slide 6: Become the Leading U.S. Gastrointestinal Healthcare Company

    IRONWOOD’S VISION & MISSION Become the Leading U.S. Gastrointestinal Healthcare Company We are dedicated to advancing the treatment of GI diseases and redefining the standard of care for millions of GI patients 6

  7. Slide 7: Navigating the COVID-19 Pandemic

    Navigating the COVID-19 Pandemic 1 2 Health & well-being of team, HCPs, Strong 1Q 2020 performance reinforces patients, communities is a top priority our vision and mission ✓ HQ and customer-facing ✓ Maintain 2020 guidance of >$105M employees have been working in Adjusted EBITDA1 remotely since Marc

  8. Slide 8: GI Diseases Affect Approximately 1 in 5 Americans; Capital Allocation Priorities

    GI Diseases Affect Approximately 1 in Every 5 Americans1 Ironwood’s Capital Allocation Priorities: Advancing GI Portfolio – LINZESS, IW-3718, MD-7246 Delivering sustainable profits & paying down debt Pursuing external GI opportunities 8 1) https://www.niddk.nih.gov/health-information/health-statisti

  9. Slide 9: Commercial and Development Highlights

    Commercial and Development Highlights Tom McCourt

  10. Slide 10: Strong LINZESS Performance in Q1 and During COVID-19 Period

    Strong LINZESS Performance in Q1 and During COVID-19 Period* Growing Share and Market Leadership YoY1 Strong YoY Demand Growth1 40 3.0 39.0% LINZESS share of branded TRx 2.9 39 2020 2.8 EUTRx (millions) 2.7 2020 38 2.6 37 2.5 36 2019 2.4 2019 2.3 35 36.9% 4/20 2.2 4/17 1/3 2/3 3/3 4/3 5/3 6/3 7/3 8/

  11. Slide 11: LINZESS: Evolving Customer Engagement Strategy

    LINZESS: Evolving Customer Engagement Strategy Implemented multiple virtual initiatives designed to support continued engagement with HCPs and patients and to maintain LINZESS availability Implemented Launched New DTC Engaged Field Force Maintained Availability TeleMedicine Initiative Campaign Virtu

  12. Slide 12: IW-3718: Potential to Treat Adult Patients with Refractory GERD

    IW-3718: Pioneering Approach with Potential to Treat Millions of Adult Patients Suffering from Refractory GERD No longer expect top-line data in 2H 2020; now working to achieve top-line data in 2021 • ~8-10M adult Americans suffer from refractory GERD despite optimized PPI therapy1,2,3,4 • Positive

  13. Slide 13: MD-7246: Potential Non-opioid Agent for Abdominal Pain in GI Diseases

    MD-7246: Potential as Non-opioid, Pain-relieving Agent for Patients Suffering from Abdominal Pain associated with Certain GI Diseases Top-line data from Phase II trial in patients with IBS-D now expected in 2Q 2020 • >50M Americans suffering from abdominal pain associated with certain GI dieseases1

  14. Slide 14: 1Q 2020 Financial Performance

    1Q 2020 Financial Performance Gina Consylman

  15. Slide 15: Strong Financial Performance in 1Q 2020

    Strong Financial Performance in 1Q 2020 $80M $172M Total Ironwood Revenues U.S. LINZESS Net Sales1 16% Y/Y growth 7% Y/Y growth Primarily driven by 11% Y/Y prescription demand Primarily driven by $71.1M in U.S. collaboration revenue growth2 and $5.5M in sales of API LINZESS commercial margin: 73%1 $

  16. Slide 16: Growing Cash Balance

    Growing Cash Balance Substantially increased cash balance since separation 250 $231 200 Generated $44M in cash from Cash and Cash Equivalents $177 operations in 1Q 2020 150 $139 Provides capital expected to support core business without need to raise $99 additional funds at this time 100 No converti

  17. Slide 17: Full Year 2020 Financial Guidance

    Full Year 2020 Financial Guidance • Ironwood maintains 2020 guidance of >$105 Million in Adjusted EBITDA1 • Ironwood withdraws remainder of 2020 financial guidance, including LINZESS net sales growth and Ironwood revenue, due to uncertainties associated with COVID-19 pandemic 1) Adjusted EBITDA is c

  18. Slide 18: Thank You

    Thank You ~ q ronwoo

  19. Slide 19: Ironwood Positioned for Long-Term Growth and Value Creation

    Ironwood Positioned for Long-Term Growth and Value Creation IW-3718 and MD-7246 represent significant commercial opportunities, if approved Total Ironwood Revenue8 ~10M IBS-C / CIC U.S. adults1 >$1 Billion U.S. net sales opportunity IW-3718 MD-7246 (if approved) ~8-10M rGERD U.S. adults2,3,4,5 + (if

  20. Slide 20: 1Q 2020 Financial Summary

    1Q 2020 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (000s, except per share (000s, except per share Reconciliation of GAAP Results to Non-GAAP Financial Measures amounts) amounts) GAAP net income

  21. Slide 21: 1Q 2020 Financial Summary

    1Q 2020 Financial Summary Reconciliation of GAAP net income (loss) from continuing operations to adjusted EBITDA Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 (000s, except per share amounts) (000s, except per share amounts) GAAP net income (loss) from continuing operations1 $3

  22. Slide 22: 1Q 2020 Financial Summary

    1Q 2020 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & Allergan Total Net Profit Three Months Ended Three Months Ended Three Months Ended Three Months Ended March 31, 2020 March 31, 2019 March 31, 2020 March 31, 2019 (000s) (000s) (000s) (000

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