Ironwood Pharmaceuticals Inc

Latest Results (06.01.2025):

Total Revenue

In the third quarter of 2024, Ironwood Pharmaceuticals Inc. reported total revenue of $91.6 million, a decrease from $113.7 million in the same quarter of 2023. This decline was primarily attributed to a reduction in collaborative arrangements revenue. The revenue for this quarter included $88.9 million from Ironwood's share of net profits from LINZESS sales in the U.S. and $2.7 million from royalties and other revenue.

Net Income

Ironwood Pharmaceuticals Inc. recorded a GAAP net income of $3.6 million, or $0.02 per share (basic and diluted), for the third quarter of 2024. This was a decrease from the GAAP net income of $15.3 million, or $0.10 per share (basic) and $0.09 per share (diluted), reported in the third quarter of 2023. The non-GAAP net income for the third quarter of 2024 was $3.9 million, or $0.02 per share (basic and diluted), compared to $21.8 million, or $0.14 per share (basic) and $0.12 per share (diluted), in the same period of the previous year.

Adjusted EBITDA

For the third quarter of 2024, Ironwood Pharmaceuticals Inc. reported an adjusted EBITDA of $26.2 million, down from $49.1 million in the third quarter of 2023. Adjusted EBITDA is calculated by excluding certain items such as mark-to-market adjustments on derivatives, restructuring expenses, net interest expense, income taxes, depreciation and amortization, and acquisition-related costs from the GAAP net income.

LINZESS U.S. Sales

LINZESS U.S. net sales, provided to Ironwood by its partner AbbVie Inc., were $225.5 million in the third quarter of 2024, representing a 19% decrease from $279.0 million in the third quarter of 2023. Despite the decrease in sales, total LINZESS prescription demand grew by 13% year-over-year, indicating strong market demand for the product.

Financial Outlook

Ironwood Pharmaceuticals Inc. maintained its full-year 2024 financial guidance despite facing pricing headwinds for LINZESS throughout the year. The company remains focused on advancing its pipeline, including the preparation for the NDA submission of apraglutide, which is on track for completion in the first quarter of 2025. Ironwood aims to bring apraglutide to market swiftly, targeting adult patients with short bowel syndrome dependent on parenteral support.