Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q1 2022 Earnings Presentation
19 slides from Ironwood Pharmaceuticals's earnings presentation, May 5, 2022
Slide 1: Ironwood Q1 2022 Investor Update
Ironwood Q1 2022 Investor Update May 5, 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 our ability to execute well against our strategic priorities; the Company’s strategy, business, financial p
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 Financial Highlights & 2022 Guidance Sravan Emany, Chief Financial
Slide 5: Strategic Priorities and Commercial Performance
Strategic Priorities and Commercial Performance Tom McCourt
Slide 6: Q1 2022: Continuing the momentum across our three strategic priorities
Q1 2022: We are continuing the momentum from 2021 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 discip
Slide 7: LINZESS is the #1 prescribed branded treatment for IBS-C/CIC
LINZESS is the #1 prescribed branded treatment in the U.S. for adults with IBS-C/CIC with ~4M unique patients since launch2 83% TRx Share in Branded IBS-C/CIC 75% Gastroenterologist (GE) Rx Market1 TRx Share in Branded IBS-C/CIC Rx Market1 100% 80% 60% 25% 40% 20% 75% 0% LINZESS Trulance, Motegrity,
Slide 8: LINZESS double-digit demand growth continued in Q1
Impressive LINZESS double-digit demand growth continued in Q1; 90-day TRx is driving average LINZESS TRx to an all-time high Q1 2022 LINZESS Total EUTRx Demand1 Q1 2022 LINZESS Percent of Retail TRx 90-Day Supply2 All-time 21% high 44 16,000,000 20% +11% y/y 90 Days of Supply of LINZESS (Retail) 15,
Slide 9: Key drivers will continue to fuel LINZESS growth
We believe these key drivers will continue to fuel LINZESS growth Patient Activation Investment IBS-C/CIC branded market leading direct to consumer (DTC) education efforts with new campaign launched April 2022 Demonstrated Advancing lifecycle improvement in opportunities, constipation and including
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: Q1 Financial Performance and 2022 Financial Guidance
Q1 Financial Performance and 2022 Financial Guidance Sravan Emany
Slide 13: Another quarter of robust financial performance
We delivered another quarter of robust financial performance $232M $98M U.S. LINZESS Net Sales1, 2 Total Ironwood Revenues 8% Y/Y growth Primarily driven by $94M in U.S. LINZESS collaboration revenue Primarily driven by 11% Y/Y prescription demand growth, partially offset by net price erosion 10% Y/
Slide 14: 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 15: Thank You
Thank You
Slide 16: Ironwood adopted ASU No. 2020-06 on January 1, 2022
Ironwood adopted ASU No. 2020-06 on January 1, 2022 The following table sets forth the computation of basic and diluted net income per common share following the adoption of ASU No. 2020-06 (in thousands, except per share amounts) 16 *Following adoption of ASU 2020-06 commencing January 1, 2022, the
Slide 17: Q1 2022 Financial Summary
Q1 2022 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 38,801 $ 39,926 Adjustments: Mark-to-market adjustments on
Slide 18: Q1 2022 Financial Summary
Q1 2022 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Three Months Ended March 31, 2022 March 31, 2021 (000s) (000s) GAAP net income1 $ 38,801 $ 39,926 Adjustments: Mark-to-market adjustments on the derivatives related to (730) (2,390) convertible notes, n
Slide 19: Q1 2022 Financial Summary
Q1 2022 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, 2022 March 31, 2021 March 31, 2022 March 31, 2021 (000s) (000s) (000s) (000s)
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