Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q1 2023 Earnings Presentation
16 slides from Ironwood Pharmaceuticals's earnings presentation, May 4, 2023
Slide 1: Ironwood Q1 2023 Investor Update
Ironwood Q1 2023 Investor Update May 4, 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 Commercial Performance Tom McCourt, Chief Executive Officer • Pipeline Update Mike Shetzline, M.D., Ph.D., Chief Medical Officer • Q1 2023 Financial Highlights & 2023 Guidance Sravan Emany, Chief Finan
Slide 5: Strategic Priorities and Commercial Performance
Strategic Priorities and Commercial Performance Tom McCourt
Slide 6: Progress across our strategic priorities is positioning us to create the next growth horizon
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 diseases Apply t
Slide 7: Strong LINZESS demand growth in Q1, with an acceleration of new-to-brand prescription volume
Strong LINZESS demand growth in Q1, with an acceleration of new-to-brand prescription volume Q1 2023 LINZESS Total EUTRx Demand1 Q1 2023 LINZESS Total NBRx Demand2 17,000,000 +10% Y/Y 150,000 +12% Y/Y 16,000,000 145,000 15,000,000 140,000 EUTRx Volume NBRx Volume 14,000,000 135,000 13,000,000 130,00
Slide 8: Pipeline Update
Pipeline Update Mike Shetzline
Slide 9: We are progressing our development programs and anticipate reaching new milestones in 2023
We are progressing our development programs and anticipate reaching new milestones in 2023 Linaclotide Lifecycle Management Development Assets CNP-104 IW-3300 Pediatric program Primary Biliary Interstitial Cystitis / in FC & IBS-C Cholangitis (PBC) Bladder Pain Syndrome (IC/BPS) • FC affects an esti
Slide 10: Q1 2023 Financial Performance and 2023 Financial Guidance
Q1 2023 Financial Performance and 2023 Financial Guidance Sravan Emany
Slide 11: Q1 2023 financial performance
Q1 2023 financial performance $250M $104M LINZESS U.S. Net Sales1 Total Ironwood Revenues LINZESS U.S. net sales growth of 8% driven by strong Primarily driven by $102M in U.S. LINZESS prescription demand growth of 10% collaboration revenue LINZESS commercial margin: 73%1 $46M $60M GAAP Net Income A
Slide 12: We are maintaining our FY 2023 guidance
We are maintaining our FY 2023 guidance FY 2023 Guidance LINZESS U.S. 3% – 5% net sales growth Ironwood revenue $420 – $435 million Adjusted EBITDA1 >$250 million 1 Adjusted EBITDA is calculated by subtracting mark-to-market adjustments on derivatives related to Ironwood’s 2022 Convertible Notes, re
Slide 13: Thank You
Thank You
Slide 14: Q1 2023 Financial Summary
Q1 2023 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Three Months Ended March 31, 2023 March 31, 2022 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 45,714 $ 38,801 Adjustments: Mark-to-market adjustments on
Slide 15: Q1 2023 Financial Summary
Q1 2023 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Three Months Ended March 31, 2023 March 31, 2022 (000s) (000s) GAAP net income1 $ 45,714 $ 38,801 Adjustments: Mark-to-market adjustments on the derivatives related to (19) (730) convertible notes, net
Slide 16: Q1 2023 Financial Summary
Q1 2023 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & AbbVie Total Net Profit Three Months Ended Three Months Ended Three Months Ended Three Months Ended March 31, 2023 March 31, 2022 March 31, 2023 March 31, 2022 (000s) (000s) (000s) (000s)
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