Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q2 2026 Earnings Presentation
19 slides from Ironwood Pharmaceuticals's earnings presentation, Aug 6, 2026
Slide 1: Ironwood Pharmaceuticals Q2 2026 Investor Update
Ironwood Pharmaceuticals Q2 2026 Investor Update August 6, 2026 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about our ability to execute on our mi
Slide 3: Today's agenda
Today’s agenda • Strategic Priorities and Q2 Business Highlights Tom McCourt, Chief Executive Officer • Maximizing LINZESS Tammi Gaskins, Chief Commercial Officer • Apraglutide STARS-2 Update Jeffrey Silber, M.D., Chief Medical Officer and Head of Research and Drug Development • Financial Highlights
Slide 4: Introducing our newest leadership team members
Introducing our newest leadership team members Jeffrey Silber, M.D. Ron Silver Chief Medical Officer and Interim Chief Financial Officer Head of Research and Drug Development 4
Slide 5: Ironwood raises FY 2026 guidance building on second quarter of strong net sales
Ironwood raises FY 2026 guidance building on second quarter of strong net sales and execution across strategic priorities Q2 2026 Highlights Maximize Advance Deliver Sustained Profits LINZESS Apraglutide and Cash Flow ✓ STARS-2 confirmatory trial was initiated in ✓ Revised FY net sales guidance is $
Slide 6: Maximize LINZESS
Maximize LINZESS The U.S. prescription market leader for adults with Irritable Bowel Syndrome with Constipation (IBS-C) and Chronic Idiopathic Constipation (CIC) 6
Slide 7: Mid-single digit demand growth year-to-date leads to raise of full-year financial guidance
Mid-single digit demand growth year-to-date leads to raise of full-year financial guidance EUTRx (total pills) Demand Volume YoY 24 • Q2 net sales of $282 million; $555 Millions +5% 22 YTD Y/Y million year-to-date representing 44% year-over-year growth 20 • Year-to-date net sales growth driven by EU
Slide 8: Advance Apraglutide
Advance Apraglutide Glucagon-like peptide-2 (GLP-2) analog for Short Bowel Syndrome with Intestinal Failure (SBS-IF) 8
Slide 9: Apraglutide is the only once-weekly GLP-2 analog with parenteral support volume reduction
Apraglutide is the only once-weekly GLP-2 analog with parenteral support (PS) volume reduction twice the rate of placebo and sustained improvement over time STARS Phase 3: Primary Endpoint 24 Weeks1 STARS Extend: PS Volume Change thru 184 weeks2 -12.5% P=0.001 STARS: A Multicenter, Double-blind, Ran
Slide 10: STARS-2 Phase 3 confirmatory clinical trial now actively recruiting patients
STARS-2 Phase 3 confirmatory clinical trial now Apraglutide once-weekly dosing actively recruiting PRIMA RY ENDPOINT IN OV ERA LL POPULA TION Relative PS volume change from baseline to Week 24 patients KEY SECONDA RY ENDPOINTS IN OV ERA LL POPULA TIO N Clinical response (>= 20% PS volume reduction)
Slide 11: Financial Highlights and 2026 Guidance
Financial Highlights and 2026 Guidance 11
Slide 12: Ironwood continued to deliver sustained profits in the second quarter
Ironwood continued to deliver sustained profits in the second quarter $282M $113M LINZESS U.S. Net Sales1,2 Total Ironwood Revenues Q2 2026 LINZESS net sales as reported by AbbVie were Primarily driven by $110M in U.S. LINZESS $282M, up 14% year-over-year, driven by improved net collaboration revenu
Slide 13: Raising full-year 2026 financial guidance on strength of LINZESS U.S. net sales
Raising full-year 2026 financial guidance on strength of LINZESS U.S. net sales Previous FY 2026 Revised FY 2026 Guidance Guidance (May 2026) (August 2026) LINZESS U.S. net sales $1.125 to $1.175 billion $1.15 to $1.20 billion Total revenue $450 to $475 million $460 to $485 million Adjusted EBITDA1
Slide 14: Appendix
APPENDIX 14
Slide 15: Q2 2026 Financial Summary
Q2 2026 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures (page 1) Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (000s, except per share (000s, except per share amounts) amounts) GAAP net income1 $ 51,291 $ 92,064 Adjustments: Amortization of acquired
Slide 16: Q2 2026 Financial Summary
Q2 2026 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures (page 2) Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (000s, except per share (000s, except per share amounts) amounts) GAAP net income per share – diluted1 $ 0.31 $ 0.55 Adjustments to GAAP ne
Slide 17: Q2 2026 Financial Summary
Q2 2026 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (000s) (000s) GAAP net income1 $ 51,291 $ 92,064 Adjustments: Stock-based compensation 3,236 6,889 Restructuring expenses, net - (40) Interest expense 7,203
Slide 18: Q2 2026 Financial Summary – Total Net Profit
Q2 2026 Financial Summary – Total Net Profit LINZESS U.S. Brand Collaboration Ironwood & AbbVie Total Net Profit1 Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (000s) (000s) LINZESS U.S. net sales as reported by AbbVie2,3 $ 282,309 $ 554,834 AbbVie & Ironwood commercial costs, expe
Slide 19: Q2 2026 Financial Summary – Commercial Profit & Collaboration Revenue
Q2 2026 Financial Summary – Commercial Profit & Collaboration Revenue LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Three Months Ended Six Months Ended June 30, 2026 June 30, 2026 (000s) (000s) LINZESS U.S. net product sales as reported by AbbVie2,3 $ 282,309 $ 554,834
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