Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — Barclays Global Healthcare Conference 2020
20 slides from Ironwood Pharmaceuticals's conference presentation, Mar 12, 2020
Slide 1: Barclays Global Healthcare Conference
Barclays Global Healthcare Conference March 12, 2020 1
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 to become a U.S. leader in GI; our ability to execute on our strategy,
Slide 3: Ironwood's Vision & Mission: Become the Leading U.S. Gastrointestinal Healthcare Company
IRONWOOD’S VISION & MISSION Become the Leading U.S. Gastrointestinal Healthcare Company We are dedicated to advancing the treatment of GI diseases and redefining the standard of care for millions of GI patients 3
Slide 4: Executing on Our Strategy
Executing on Our Strategy Drive LINZESS® Advance late-stage Deliver (linaclotide) growth U.S. GI development sustainable profits portfolio 4
Slide 5: 2020: Multiple Catalysts Positioned to Drive Further Growth
2020: Multiple Catalysts Positioned to Drive Further Growth Leveraging our momentum in 2020 and beyond WE EXPECT: 1H 2020 2H 2020 Driving Settled outstanding Launch full year consumer campaign Additional overall abd symptom ANDA litigation discussing multiple abd symptoms data to be added to LINZESS
Slide 6: LINZESS is #1 Prescribed Medicine for IBS-C/CIC
6 1,700,000 1,900,000 2,100,000 2,300,000 2,500,000 2,700,000 2,900,000 2017-01-06 2017-01-27 2017-02-17 2017-03-10 2017-03-31 2017-04-21 2017-05-12 2017-06-02 2017-06-23 2017-07-14 2017-08-04 2017-08-25 2017-09-15 2017-10-06 2017-10-27 2017-11-17 2017-12-08 2017-12-29 2018-01-19 2018-02-09 2018-03-
Slide 7: Advancing a Leading GI Portfolio
Advancing a Leading GI Portfolio Three differentiated, durable GI assets positioned for growth and value creation COMPOUND INDICATION PHASE I PHASE II PHASE III APPROVAL IBS-C or CIC Launched 12/12; sNDA for overall abdominal symptoms submitted Nov 2019 in adults IBS-C/FC in linaclotide pediatrics R
Slide 8: IW-3718: Opportunity to Bring Relief to Millions of rGERD Patients
IW-3718: Opportunity to Bring Relief to Millions of rGERD Patients Phase III data targeted in second half of 2020 Compelling Bile Established High Unmet Need 1st In Class MOA Acid Story GI Leadership • ~8-10M U.S. adults suffer • Bile acids play a • IW-3718 is designed to target • GI category leader
Slide 9: Phase 2b Data: IW-3718 1500mg Showed Meaningful Reduction in Heartburn Severity and Regurgitation Frequency
Phase 2b Data: IW-3718 1500mg Showed Meaningful Reduction in Heartburn Severity and Regurgitation Frequency IW-3718 + PPI demonstrated ~55% reduction in regurgitation frequency ~53 % IW-3718 + PPI effect even more pronounced in patients with erosive esophagitis of patients treated with IW-3718 + Enc
Slide 10: IW-3718 Phase II Data: Reduction in Regurgitation Frequency & Increase in Regurgitation-free Days
IW-3718 Phase II Data: Reduction in Regurgitation Frequency & Increase in Regurgitation-free Days Regurgitation: % change from baseline % of Regurgitation-free Patients** by week (Phase IIb) (Phase IIa) 0 LS Mean % change from baseline -10 Δ =17.5% 40 Wk 8 1500mg v PBO 33.3 34.1 35 Nominal P=<0.05*
Slide 11: MD-7246: Opportunity for Oral, Non-opioid, Pain-relieving Agent
MD-7246: Opportunity for Oral, Non-opioid, Pain-relieving Agent for Patients with Abdominal Pain associated with Certain GI Diseases >50 MILLION AMERICANS IBS with diarrhea Diverticular Functional IBS-C3,4 IBS-mixed3,4 IBD (IBS-D) disease abdominal pain5 POTENTIAL FUTURE INDICATIONS ~16M1,2 POTENTIA
Slide 12: MD-7246 Leverages Linaclotide's Differentiated MoA
MD-7246 Leverages Linaclotide’s Differentiated MoA Initially exploring MD-7246 in patients with abdominal pain associated with IBS-D LINZESS Immediate release in stomach Effective relief of abdominal pain and constipation in IBS-C Potential for abdominal pain relief with minimal impact on bowel func
Slide 13: MD-7246 Demonstrated Decoupling of Abdominal Pain Relief & Bowel Effect in Phase II IBS-C trial
MD-7246 Demonstrated Decoupling of Abdominal Pain Relief & Bowel Effect in Phase II IBS-C trial Abdominal pain: CSBM2 rate: change from baseline 9/12 week responders (%)1 – overall treatment period 35 2.5 30 31.8 31.8 2 2.1 LS mean change Responders (%) 25 from baseline …With limited 20 1.5 impact o
Slide 14: Profit Generation Began Immediately Post Separation
Profit Generation Began Immediately Post Separation Delivered GAAP and non-GAAP profitability in first three quarters post-separation1 In 2019: Separation (4/1/19) Exceeded revised guidance for total revenue and adjusted EBITDA from continuing GAAP Net Profit ($ Millions) $60 $48 operations2 $40 $21
Slide 15: Full Year 2020 Financial Guidance
Full Year 2020 Financial Guidance Ironwood expects: FY2020 Guidance LINZESS U.S. net sales growth Mid-single digit % increase Total Ironwood revenue $360 – 380 million Adjusted EBITDA1 >$105 million 1) Adjusted EBITDA is calculated by subtracting net interest expense, taxes, depreciation, amortizati
Slide 16: Ironwood Positioned for Long-Term Growth and Value Creation
Ironwood Positioned for Long-Term Growth and Value Creation IW-3718 and MD-7246 represent significant commercial opportunities, if approved Total Ironwood Revenue8 ~10M IBS-C / CIC U.S. adults1 >$1 Billion U.S. net sales opportunity IW-3718 MD-7246 (if approved) ~8-10M rGERD U.S. adults2,3,4,5 + (if
Slide 17: Appendix
Appendix 17
Slide 18: 4Q and FY 2019 financial summary: Reconciliation of GAAP Results to Non-GAAP
4Q and FY 2019 financial summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Twelve Months Ended December 31, 2019 December 31, 2019 (000s, except per share (000s, except per share • Reconciliation of GAAP Results to Non-GAAP Financial Measures amounts) amounts)
Slide 19: 4Q and FY 2019 financial summary: Adjusted EBITDA Reconciliation
4Q and FY 2019 financial summary Reconciliation of GAAP net income from continuing operations to adjusted EBITDA from continuing operations Three Months Ended Twelve Months Ended December 31, 2019 December 31, 2019 (000s, except per share amounts) (000s, except per share amounts) GAAP net income fro
Slide 20: 4Q and FY 2019 financial summary: LINZESS U.S. Brand Collaboration
4Q and FY 2019 financial summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & Allergan Total Net Profit Twelve Months Twelve Months Three Months Ended Three Months Ended Ended Ended December 31, 2019 December 31, 2019 December 31, 2019 December 31, 2019 (000
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