Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — FY2021 Earnings Presentation
19 slides from Ironwood Pharmaceuticals's earnings presentation, Feb 17, 2022
Slide 1: Ironwood Q4 and Full Year 2021 Investor Update
Ironwood Q4 and Full Year 2021 Investor Update February 17, 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 of Investor Relations • 2021 Overview and Commercial Performance Tom McCourt, Chief Executive Officer • Pipeline Update Mike Shetzline, M.D., Ph.D., Chief Medical Officer • Q4 and FY 2021 Financial Highlights & 2022 Guidance Sravan Emany, Chief Fin
Slide 5: 2021 Overview and Commercial Performance
2021 Overview and Commercial Performance Tom McCourt
Slide 6: 2021: We executed well against our three strategic priorities
2021: We executed well against 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 disciplined capital and net sale
Slide 7: Strong LINZESS demand in 2021 solidified its position as U.S. market leader
Strong LINZESS demand in 2021 solidified its position as the U.S. branded prescription market leader for adults with IBS-C/CIC LINZESS Total EUTRx Demand1 IBS-C/CIC TRx Market Share1 50% +12% y/y LINZESS 15,000,000 45% All-Time High (44%) 40% Lactulose 14,000,000 Molecule (41%) 35% 13,000,000 TRx Ma
Slide 8: Robust LINZESS new-to-brand volume growth and increase in 90-day prescriptions
Robust LINZESS new-to-brand volume growth and an increase in 90-day prescriptions are key indicators of future growth potential LINZESS NBRx Volume Growth1 LINZESS 90-Day Prescription ~20%2 43.0 540,000 ~15% y/y 42.5 520,000 42.0 Average TRx Fill Size 500,000 3 41.5 Percent 90 Count Quantity NBRx Vo
Slide 9: LINZESS achieved blockbuster status in 2021; key factors driving success
LINZESS achieved blockbuster status in 2021 and we believe these key factors are driving its continued success in the market ✓ CLINICAL EFFICACY Demonstrated improvement in constipation and overall abdominal symptoms (bloating, pain, discomfort) in adults with IBS-C2 ✓ CLASS-LEADING PAYER ACCESS Wid
Slide 10: Pipeline Update
Pipeline Update Mike Shetzline
Slide 11: Clinical trials for IW-3300 and CNP-104 have initiated; pediatric program continues
The clinical trials for IW-3300 and CNP-104 have initiated and the pediatric program continues to advance 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 Endometriosis ✓ Func
Slide 12: 2021 Financial Performance and 2022 Financial Guidance
2021 Financial Performance and 2022 Financial Guidance Sravan Emany
Slide 13: 2021: Another year of strong financial performance
2021: Another year of strong financial performance $1,006M $414M U.S. LINZESS Net Sales1 Total Ironwood Revenues 8% Y/Y growth Primarily driven by $400M in U.S. LINZESS collaboration revenue Primarily driven by 12% Y/Y prescription demand growth, partially offset by net price erosion LINZESS brand m
Slide 14: Capabilities and financial strength to deliver value for shareholders
We believe we have the capabilities and financial strength to deliver value for our shareholders over the long term Cash and Cash Equivalents Capital Allocation Priorities Maximize LINZESS $700 continue to drive growth through $620 commercial innovation and Lifecycle $600 Management $500 + (millions
Slide 15: We are maintaining our 2022 financial guidance
We are maintaining 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 16: Thank You
Thank You
Slide 17: Q4 and FY 2021 Financial Summary
Q4 and FY 2021 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Twelve Months Ended December 31, 2021 December 31, 2021 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 41,347 $ 528,448 Adjustments: Mark-to-market
Slide 18: Q4 and FY 2021 Financial Summary
Q4 and FY 2021 Financial Summary Reconciliation of GAAP net income to adjusted EBITDA Three Months Ended Twelve Months Ended December 31, 2021 December 31, 2021 (000s) (000s) GAAP net income1 $ 41,374 $ 528,448 Adjustments: Mark-to-market adjustments on the derivatives related to 2,566 1,178 convert
Slide 19: Q4 and FY 2021 Financial Summary
Q4 and FY 2021 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & AbbVie Total Net Profit Three Months Ended Twelve Months Ended Three Months Ended Twelve Months Ended December 31, 2021 December 31, 2021 December 31, 2021 December 31, 2021 (000s)
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