Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q2 2022 Earnings Presentation
19 slides from Ironwood Pharmaceuticals's earnings presentation, Aug 4, 2022
Slide 1: Ironwood Q2 2022 Investor Update
Ironwood Q2 2022 Investor Update August 4, 2022
Slide 2: Introduction
Introduction Matt Roache
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 Ironwood’s ability to execute its mission; Ironwood’s strategy, business, financial position and operations
Slide 4: Today's Agenda
Today’s Agenda • Introduction Matt Roache, Director, Investor Relations • Strategic Priorities and Commercial Performance Tom McCourt, Chief Executive Officer • Pipeline Update Mike Shetzline, M.D., Ph.D., Chief Medical Officer • Q2 Financial Highlights & 2022 Guidance Sravan Emany, Chief Financial
Slide 5: Strategic Priorities and Commercial Performance
Strategic Priorities and Commercial Performance Tom McCourt
Slide 6: Q2 2022: Positive momentum across our three strategic priorities
Q2 2022: The positive momentum continued across our three strategic priorities Maximize Strengthen Deliver LINZESS® Innovative Sustained Profits and (linaclotide) GI Pipeline Generate Cash Flow Continue to grow LINZESS demand Focus on serious, organic GI diseases Apply thoughtful and disciplined cap
Slide 7: Strong LINZESS demand growth in Q2, with 90-day TRx driving average size
Strong LINZESS demand growth in Q2, with 90-day TRx driving average LINZESS TRx size to an all-time high 2022 LINZESS Total EUTRx Demand1 2022 LINZESS Percent of Retail TRx 90-Day Supply2 All-time +9% Y/Y 2Q 22% high 44 16,000,000 +10% Y/Y 1H 21% 90 days of supply of LINZESS (retail) 43 15,000,000 2
Slide 8: LINZESS is the branded prescription market leader in the U.S. for IBS-C/CIC
LINZESS is the branded prescription market leader in the U.S. for IBS-C/CIC and has grown share vs. prior year IBS-C/CIC TRx Market Share1 Q2 2022 Share Point Change vs. Prior Year1 60% LINZESS 44% 2.0 All-time high 1.5 50% 1.0 40% 0.5 30% 0.0 20% -0.5 -1.0 10% -1.5 0% -2.0 -2.5 LINZESS Total Lactul
Slide 9: LINZESS is strongly recommended for treatment of adult patients with IBS-C
LINZESS is strongly recommended for the treatment of adult patients with IBS-C1,2 2021 ACG Guideline1 2022 AGA Guideline2 Strongly recommends GC-C agonists, which Strongly recommends LINZESS include LINZESS, to treat global IBS-C symptoms* for the treatment of IBS-C* High quality of evidence† High c
Slide 10: Pipeline Update
Pipeline Update Mike Shetzline
Slide 11: Progress on ongoing clinical trials and upcoming data readouts
We are making progress on our ongoing clinical trials and remain on track with the timing of the upcoming data readouts CNP-104 IW-3300 CNP-104 IW-3300 Pediatric program in IBS-C & Interstitial Cystitis / Bladder Pain Primary Biliary Cholangitis (PBC) Functional Constipation (FC) Syndrome and Endome
Slide 12: Q2 Financial Performance and 2022 Financial Guidance
Q2 Financial Performance and 2022 Financial Guidance Sravan Emany
Slide 13: Q2 2022 financial performance
Q2 2022 financial performance $248M $97M U.S. LINZESS Net Sales1 Total Ironwood Revenues 4% Y/Y decline Primarily driven by $94M in U.S. LINZESS collaboration revenue Strong LINZESS prescription demand growth was more than offset by net price decline and inventory fluctuations2 LINZESS commercial ma
Slide 14: Capabilities and financial strength to deliver long-term shareholder value
We believe we have the capabilities and financial strength to deliver value for our shareholders over the long term Capital Allocation Priorities Maximize LINZESS continue to drive growth through commercial innovation and Lifecycle Management + Strengthen Innovative GI Pipeline 1 actively pursuing i
Slide 15: We are reiterating our 2022 financial guidance
We are reiterating our 2022 financial guidance Ironwood continues to expect: FY 2022 Guidance LINZESS U.S. net sales Low single digits % growth Total Ironwood revenue $420 - $430 million Adjusted EBITDA1 >$250 million 1 Adjusted EBITDA is calculated by subtracting mark-to-market adjustments on deriv
Slide 16: Thank You
Thank You
Slide 17: Q2 2022 Financial Summary
Q2 2022 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 37,080 $ 75,881 Adjustments: Mark-to-market adjustments on the
Slide 18: Q2 2022 Financial Summary
Q2 2022 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 (000s) (000s) GAAP net income1 $ 37,080 $ 75,881 Adjustments: Mark-to-market adjustments on the derivatives related to 681 (49) convertible notes, net Intere
Slide 19: Q2 2022 Financial Summary
Q2 2022 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & AbbVie Total Net Profit Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2022 June 30, 2022 June 30, 2022 June 30, 2022 (000s) (000s) (000s) (000s) $ 248,3
Ironwood Pharmaceuticals — Q2 2022 Earnings Presentation on 6ix