Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Q3 2022 Earnings Presentation
17 slides from Ironwood Pharmaceuticals's earnings presentation, Nov 3, 2022
Slide 1: Ironwood Q3 2022 Investor Update
Ironwood Q3 2022 Investor Update November 3, 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 Ironwood’s ability to execute its mission; Ironwood’s strategy, business, financial position and operations
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 • Q3 Financial Highlights & 2022 Guidance Sravan Emany, Chief Financial
Slide 5: Strategic Priorities and Commercial Performance
Strategic Priorities and Commercial Performance Tom McCourt
Slide 6: Q3 2022: We remain committed to our three strategic priorities and continue to execute well
Q3 2022: We remain committed to our three strategic priorities and continue to execute well 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 di
Slide 7: Strong LINZESS demand growth in Q3, with an acceleration of new-to-brand prescription volume
Strong LINZESS demand growth in Q3, with an acceleration of new-to-brand prescription volume 2022 LINZESS Total EUTRx Demand1 Q3 2022 LINZESS Total NBRx Demand2 16,000,000 +10% Y/Y 3Q; +10% Y/Y YTD 140,000 +9% Y/Y 15,000,000 through 3Q 14,000,000 135,000 EUTRx Volume NBRx Volume 13,000,000 130,000 1
Slide 8: Pipeline Update
Pipeline Update Mike Shetzline
Slide 9: We are one step closer to being able to potentially expand the clinical utility of LINZESS
We are one step closer to being able to potentially expand the clinical utility of LINZESS to pediatric patients aged 6-17 with FC SEPTEMBER 06, 2022 Linaclotide 72 µg Ironwood Pharmaceuticals Reports Positive Placebo (N = 64) Endpoints (N = 64) Topline Data from Phase III Trial of LINZESS® LSMEAN (
Slide 10: We continue to advance our pipeline; plan to file sNDA by end of 2022
We continue to advance our pipeline; plan to file sNDA by end of 2022 for potential FC indication in pediatric patients aged 6-17 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
Slide 11: Q3 Financial Performance and 2022 Financial Guidance
Q3 Financial Performance and 2022 Financial Guidance Sravan Emany
Slide 12: Q3 2022 financial performance
Q3 2022 financial performance $261M $109M U.S. LINZESS Net Sales1 Total Ironwood Revenues 3% Y/Y growth Primarily driven by $105M in U.S. LINZESS Strong LINZESS prescription demand growth was partially collaboration revenue offset by net price erosion LINZESS commercial margin: 74%1 $50M $69M GAAP N
Slide 13: We are 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 14: Thank You
A Thank You
Slide 15: Q3 2022 Financial Summary
Q3 2022 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 50,317 $ 126,198 Adjustments: Mark-to-market adjustm
Slide 16: Q3 2022 Financial Summary
Q3 2022 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 (000s) (000s) GAAP net income1 $ 50,317 $ 126,198 Adjustments: Mark-to-market adjustments on the derivatives related to (151) (200) convertible no
Slide 17: Q3 2022 Financial Summary
Q3 2022 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & AbbVie Total Net Profit Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended September 30, 2022 September 30, 2022 September 30, 2022 September 30, 2022 (000s) (000s)
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