Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q2 2023 Earnings Presentation
16 slides from Ironwood Pharmaceuticals's earnings presentation, Aug 8, 2023
Slide 1: Ironwood Q2 2023 Investor Update
Ironwood Q2 2023 Investor Update August 8, 2023
Slide 2: 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; our strategy, business, financial position and operations, including
Slide 3: Introduction
Introduction Matt Roache
Slide 4: Today's Agenda
Today’s Agenda • Introduction Matt Roache, Director, Investor Relations • Strategic Priorities and Pipeline Update Tom McCourt, Chief Executive Officer • Commercial Performance, Addition of Apraglutide and Q2 2023 Financial Highlights & Updated 2023 Guidance Sravan Emany, Chief Financial Officer 4
Slide 5: Strategic Priorities and Pipeline Update
Strategic Priorities and Pipeline Update Tom McCourt
Slide 6: Significant progress across our strategic priorities is positioning us to create the next growth horizon
Significant progress across our strategic priorities is positioning us to create the next growth horizon for our company Maximize Strengthen and Progress Deliver Sustained Profits LINZESS Innovative GI Portfolio and Generate Cash Flow Continue to grow LINZESS demand Focus on serious, organic GI dise
Slide 7: Apraglutide strengthens GI pipeline with several near-term development milestones
Apraglutide strengthens GI pipeline with several near-term development milestones to drive shareholder value Anticipated Near-term Discovery Preclinical Phase 1 Phase 2 Phase 3 Marketed Milestones / Catalysts IBS-C & Chronic Idiopathic LINZESS Constipation Pediatric Functional Constipation Ages 6-17
Slide 8: Commercial Performance, Addition of Apraglutide and Q2 2023 Financial Performance & Updated 2023 Financial Guidance
Commercial Performance, Addition of Apraglutide and Q2 2023 Financial Performance & Updated 2023 Financial Guidance Sravan Emany
Slide 9: Continued strong LINZESS demand growth in Q2, with an acceleration of new-to-brand prescription volume
Continued strong LINZESS demand growth in Q2, with an acceleration of new-to-brand prescription volume Q2 2023 LINZESS Total EUTRx Demand1 Quarterly LINZESS NBRx Volume / Growth Y/Y2 +15% Y/Y 17,000,000 170,000 in Q2 2023 16% +9% Y/Y 14% 16,000,000 160,000 12% 15,000,000 150,000 10% EUTRx Volume 14,
Slide 10: Acquisition of VectivBio advances Ironwood's GI leadership and creates value potential
Acquisition of VectivBio advances Ironwood’s GI leadership and creates value potential for patients and shareholders Advancing the treatment of GI diseases and redefining the standard of care for GI patients Apraglutide: potential to $1B2 Apraglutide Peak Leverages Ironwood’s become the new Net Sale
Slide 11: Q2 2023 financial performance
Q2 2023 financial performance $270M $107M LINZESS U.S. Net Sales1 Total Ironwood Revenues LINZESS U.S. net sales and prescription demand growth of 9% Primarily driven by $105M in U.S. LINZESS LINZESS commercial margin: 71%1 collaboration revenue ($1,062M) ($1,034M) GAAP Net Income (Loss) Adjusted EB
Slide 12: We are updating our FY 2023 guidance
We are updating our FY 2023 guidance Previous 2023 Guidance Updated 2023 Guidance (May 2023) LINZESS U.S. 3% – 5% 6% – 8% net sales growth Ironwood revenue $420 – $435 million $435 – $450 million Adjusted EBITDA1 >$250 million ~($900) million2 Includes ~$1.1 billion one-time charge from acquisition
Slide 13: Thank You
Thank You
Slide 14: Q2 2023 Financial Summary
Q2 2023 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures Three Months Ended Six Months Ended June 30, 2023 June 30, 2023 (000s, except per share (000s, except per share amounts) amounts) GAAP net income (loss)1,2 ($1,089,478) ($1,043,764) Adjustments: Mark-to-market ad
Slide 15: Q2 2023 Financial Summary
Q2 2023 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Six Months Ended June 30, 2023 June 30, 2023 (000s) (000s) GAAP net income (loss)1,2 ($1,089,478) ($1,043,764) Adjustments: Mark-to-market adjustments on the derivatives related to 0 (19) convertible no
Slide 16: Q2 2023 Financial Summary
Q2 2023 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, 2023 June 30, 2023 June 30, 2023 June 30, 2023 (000s) (000s) (000s) (000s) LINZESS
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