Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — FY2018 Earnings Presentation
20 slides from Ironwood Pharmaceuticals's earnings presentation, Feb 13, 2019
Slide 1: Ironwood 4Q and Full Year 2018 Investor Update
A COMMERCIAL BIOTECHNOLOGY COMPANY Ironwood 4Q and Full Year 2018 Investor Update February 13, 2019
Slide 2: Introduction
Introduction Meredith Kaya W/ Ironwood’
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 the proposed separation of our operations into two independent, publicly traded companies, including the st
Slide 4: Today's Agenda
Today’s Agenda Roles effective upon completion of planned separation Introduction VP, IR & Communications Meredith Kaya 2018 Overview & Separation Update Chief Executive Officer Peter Hecht New Ironwood Chief Executive Officer Mark Mallon Cyclerion Chief Executive Officer Peter Hecht 4Q/FY18 Financi
Slide 5: 2018 Overview + Separation Update
2018 Overview + Separation Update Peter Hecht
Slide 6: Strong Performance in 2018 Continuing into 2019
Strong Performance in 2018 Continuing into 2019 Strong revenue growth & Continued pipeline Expect to separate 1H 2019 continued global expansion momentum: • Filed first public Form 10 • Grew revenue by 16% yoy • Advanced several pipeline Registration Statement candidates with multiple • Announced ex
Slide 7: New Ironwood
New Ironwood Mark Mallon W/ Ironwood’
Slide 8: Ironwood is building a profitable, GI-focused healthcare company
WE AIM TO: Grow LINZESS® (linaclotide) and accelerate U.S. GI development portfolio Capitalize on our GI expertise to IRONWOOD bring innovative therapies to patients is building a profitable, GI-focused healthcare company Deliver profits beginning in 20191 (following planned separation) 1. Profitabi
Slide 9: Capitalizing on our expertise in GI to bring innovative therapies to patients
Capitalizing on our expertise in GI to bring innovative therapies to patients Accelerate LINZESS Advance late-stage Invest in growth & value growth and profitability1 development programs creation Linaclotide abdominal symptom Ironwood is seeking to: 2,900,000 claims (bloating, discomfort, pain) 2,8
Slide 10: Cyclerion
Cyclerion Peter Hecht WIZ = - cyclerion “UN
Slide 11: Cyclerion: breakthrough treatments by harnessing the power of sGC
Cyclerion creating breakthrough treatments for patients with serious & orphan diseases by harnessing the power of sGC 5 Differentiated programs 4 Clinical studies ongoing 3 Phase 2 readouts expected 2 New tissue-tailored development candidates* 1 Great company launch *Expect to nominate 2 candidates
Slide 12: 4 clinical data readouts in 2019 on differentiated compounds
4 clinical data readouts in 2019 on differentiated compounds Product* Discovery IND Enabling Phase 1 Phase 2 Phase 3 Status and Anticipated Next Milestones Vascular sGC Stimulator - Top line data expected in 2H2019 Olinciguat Sickle Cell Disease - Granted Orphan Drug Designation by the US FDA - Worl
Slide 13: 4Q and Full Year 2018 Financials + 2019 Financial Guidance
4Q and Full Year 2018 Financials + 2019 Financial Guidance Gina Consylman
Slide 14: 4Q and Full Year 2018 Financial Results
4Q and Full Year 2018 Financial Results 4Q 2018: Full year 2018: • $130.7M in Ironwood revenue: • $346.6M in Ironwood revenue: – $81.6M in Ironwood’s share of net profits – $264.2M in Ironwood’s share of net profits from from LINZESS U.S. net sales, $45.9M in LINZESS U.S. net sales, $70.4M in linacl
Slide 15: Strong 2018 financial performance; met all financial guidance
Strong 2018 financial performance; met all financial guidance 2018 Guidance 2018 Reported ✓ SG&A Expenses $230 - $250 million $241.3 million ✓ R&D Expenses $160 – $180 million $166.5 million ✓ Total LINZESS Marketing & Sales $230 - $260 million $236.7 million Expenses (IRWD + AGN) ✓ Net Interest Exp
Slide 16: 2019 financial guidance
2019 financial guidance Ironwood expects Total revenue $370 – 390 million Net interest expense ~$35 million Separation expenses* $30 – 40 million Restructuring expenses $3 – 4 million Ironwood expects to provide guidance on 2019 non-GAAP profitability from continuing operations at an investor update
Slide 17: A Commercial Biotechnology Company
A COMMERCIAL BIOTECHNOLOGY COMPANY
Slide 18: 4Q and Full Year 2018 Financial Summary
4Q and Full Year 2018 Financial Summary Condensed Consolidated Statement of Operations (unaudited) Three Months Ended Year Ended December 31, 2018 December 31, 2018 (000s, except per share amounts) Revenue $ 130,692 $ 346,639 Cost and expenses: Cost of revenue 21,463 32,751 Write- down of inventory
Slide 19: 4Q and Full Year 2018 Financial Summary
4Q and Full Year 2018 Financial Summary Reconciliation of GAAP Results to Non-GAAP Financial Measures Three Months Ended Year Ended December 31, 2018 December 31, 2018 (000s, except per share amounts) GAAP net loss $ (15,493) $ (282,368) Adjustments: Mark-to-market adjustments on the derivatives rel
Slide 20: 4Q and Full Year 2018 Financial Summary
4Q and Full Year 2018 Financial Summary LINZESS U.S. Brand Collaboration Ironwood Revenue/Expense Calculation Ironwood & Allergan Combined U.S. LINZESS P&L Commercial Pool1 Year Ended Three Months Ended Year Ended December 31, 2018 December 31, 2018 December 31, 2018 (000s) (000s) (000s) Three Month
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