Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q1 2021 Earnings Presentation
17 slides from Ironwood Pharmaceuticals's earnings presentation, May 6, 2021
Slide 1: Ironwood 1Q 2021 Earnings Update
Ironwood 1Q 2021 Earnings Update May 6, 2021
Slide 2: Introduction
Introduction Meredith Kaya
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 and mission; our strategy, business, financial position and operations
Slide 4: Today's Agenda
Today’s Agenda • Introduction Meredith Kaya, VP Finance and Investor Relations • Strategic Priorities and Commercial Performance Tom McCourt, President and Interim CEO • Q1 Financial Highlights & 2021 Guidance Gina Consylman, Chief Financial Officer 4
Slide 5: Strategic Priorities and Commercial Performance
Strategic Priorities and Commercial Performance Tom McCourt
Slide 6: Our Strategy: Advancing Innovative Treatments for GI Diseases
We Aim to: Our Strategy: Maximize LINZESS® Advancing Innovative Treatments for GI 1 (linaclotide) ▪ Drive LINZESS growth in demand and net sales ▪ Enhance linaclotide clinical utility through robust Diseases lifecycle management opportunities We are focused in areas of high unmet need where gastroen
Slide 7: Board authorized up to $150 million to repurchase outstanding shares
Our board of directors authorized up to $150 million to repurchase outstanding shares of our common stock ✓Our strong financial position enables us to simultaneously invest thoughtfully in our strategic priorities and return cash to shareholders ✓We may repurchase up to $150 million of outstanding I
Slide 8: Strong LINZESS demand in 1Q 2021 further strengthened its market leadership
Strong LINZESS demand in 1Q 2021 further strengthened its position as the IBS-C/CIC market leader in the U.S. LINZESS Total Rx Demand1 LINZESS NBRx Volume Growth2 +12% y/y 140,000 +24% 14,000,000 120,000 13,000,000 100,000 12,000,000 80,000 11,000,000 60,000 10,000,000 40,000 9,000,000 20,000 8,000,
Slide 9: Key catalysts contributing to the growth of LINZESS
We believe these key catalysts are contributing to the growth of LINZESS Increase in Patients Seeking Care LINZESS Promotional Focus LINZESS Experience and Access ✓ #1 prescribed branded ✓ Evolving marketing mix ✓ LINZESS website traffic treatment for adults with and increased media up 69% y/y3 IBS-
Slide 10: 1Q Financial Performance and 2021 Financial Guidance
1Q Financial Performance and 2021 Financial Guidance Gina Consylman
Slide 11: We delivered another quarter of robust financial performance
We delivered another quarter of robust financial performance $89M $215M Total Ironwood Revenues U.S. LINZESS Net Sales1 12% Y/Y growth Primarily driven by $86M in U.S. LINZESS collaboration Primarily driven by 12% Y/Y prescription demand revenue growth and favorable inventory channel dynamics, parti
Slide 12: We are maintaining our 2021 financial guidance
We are maintaining our 2021 financial guidance Ironwood continues to expect: FY 2021 Guidance LINZESS U.S. net sales 3 to 5% growth Total Ironwood revenue $370 - $385 million Adjusted EBITDA1 >$190 million 1. Adjusted EBITDA is calculated by subtracting net interest expense, income taxes, depreciati
Slide 13: We are focused on delivering shareholder value
We are focused on delivering shareholder value Ended the first quarter with $438 million in cash and cash equivalents Total Shareholder Maximize LINZESS Return Return of Capital Seek to drive net sales growth via Board of directors authorized a share commercial innovation and repurchase program of u
Slide 14: Thank You
Thank You ~ q ronwoo
Slide 15: Q1 2021 Financial Summary
Q1 2021 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Three Months Ended March 31, 2021 March 31, 2020 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 39,926 $ 3,345 Adjustments: Mark-to-market adjustments on t
Slide 16: Q1 2021 Financial Summary
Q1 2021 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Three Months Ended March 31, 2021 March 31, 2020 (000s) (000s) GAAP net income1 $ 39,926 $ 3,345 Adjustments: Mark-to-market adjustments on the derivatives related to (2,390) 3,466 convertible notes, ne
Slide 17: Q1 2021 Financial Summary
Q1 2021 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, 2021 March 31, 2020 March 31, 2021 March 31, 2020 (000s) (000s) (000s) (000s)
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