Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — FY2023 Earnings Presentation
17 slides from Ironwood Pharmaceuticals's earnings presentation, Feb 15, 2024
Slide 1: Ironwood Pharmaceuticals Q4 and FY 2023 Investor Update
Ironwood Pharmaceuticals Q4 and FY 2023 Investor Update February 15, 2024 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; our strategy, business, financial position and operations, including
Slide 3: Introduction
Introduction Matt Roache \\ Ironwood’
Slide 4: Today's Agenda
Today’s Agenda • Introduction Matt Roache, Director, Investor Relations • Overview Tom McCourt, Chief Executive Officer • Pipeline Update Mike Shetzline, M.D., Ph.D., Chief Medical Officer • Commercial Update, Q4 and FY 2023 Financial Highlights and 2024 Guidance Sravan Emany, Chief Financial Office
Slide 5: Overview
Overview Tom McCourt Ironwood
Slide 6: In 2023, we made important progress toward becoming the leading GI healthcare company
In 2023, we made important progress toward realizing our vision of becoming the leading GI healthcare company in the industry 2023 Highlights Maximize Deliver Sustained Profits LINZESS Advance GI Pipeline and Cash Flow Continue to grow LINZESS demand Focus on serious, organic GI diseases Apply thoug
Slide 7: Pipeline Update
Pipeline Update Mike Shetzline 7
Slide 8: We expect emerging data to create significant momentum
We expect emerging data to create significant momentum as we strive to deliver value for patients and shareholders Maximize Strengthen and Progress Discovery Preclinical Phase 1 Deliver Phase 2 Sustained Phase 3 Marketed Profits LINZESS Innovative GI Portfolio IBS-C & Chronic Idiopathic Constipation
Slide 9: Commercial Update, Highlights and 2024 Guidance
Commercial Update, Q4 and FY 2023 Financial Highlights and 2024 Guidance Sravan Emany 9
Slide 10: Impressive LINZESS Demand Growth Since Launch
Impressive LINZESS Demand Growth Since Launch Leader in IBS-C 2023 y/y growth: +10% EUTRx1 and CIC +15% NBRx2 4,500,000 20,000 4,000,000 18,000 16,000 3,500,000 LINZESS is a growing, market 3,000,000 14,000 leading, blockbuster brand with 12,000 EUTRx Volume NBRx Volume 2,500,000 a significant oppor
Slide 11: FY 2023 financial performance
FY 2023 financial performance $1,073M $443M LINZESS U.S. Net Sales1 Total Ironwood Revenues LINZESS U.S. net sales growth of 7%, driven by strong Primarily driven by $430M in U.S. LINZESS prescription demand growth of 10% collaboration revenue LINZESS commercial margin: 73%1 ($1,002M) ($885M) GAAP N
Slide 12: We are maintaining our FY 2024 guidance
We are maintaining our FY 2024 guidance FY 2024 Guidance LINZESS U.S. Low-single digits % net sales growth Ironwood revenue $435 – $455 million Adjusted EBITDA1 >$150 million Excludes potential CNP-104 option exercise 1 Adjusted EBITDA is calculated by subtracting restructuring expenses, net interes
Slide 13: Q4 and FY 2023 Financial Summary: GAAP to Non-GAAP (page 1)
Q4 and FY 2023 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures (page 1) Three Months Ended Twelve Months Ended December 31, 2023 December 31, 2023 (000s, except per share (000s, except per share amounts) amounts) GAAP net income (loss)1,2 ($1,745) ($1,031,559) Adjustm
Slide 14: Q4 and FY 2023 Financial Summary: GAAP to Non-GAAP (page 2)
Q4 and FY 2023 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures (page 2) Three Months Ended Twelve Months Ended December 31, 2023 December 31, 2023 (000s, except per share (000s, except per share amounts) amounts) GAAP net income (loss) attributable to Ironwood per sha
Slide 15: Reconciliation of GAAP net income (loss) to adjusted EBITDA
Q4 and FY 2023 Financial Summary Reconciliation of GAAP net income (loss) to adjusted EBITDA Three Months Ended Twelve Months Ended December 31, 2023 December 31, 2023 (000s) (000s) GAAP net income (loss)1,2 ($1,745) ($1,031,559) Adjustments: Mark-to-market adjustments on the derivatives related to
Slide 16: LINZESS U.S. Brand Collaboration
Q4 and FY 2023 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, 2023 December 31, 2023 December 31, 2023 December 31, 2023 (000s)
Slide 17: Thank You
A Thank You
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