{"id":46929,"date":"2022-08-04T13:01:46","date_gmt":"2022-08-04T11:01:46","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/ironwood-pharmaceuticals-reports-second-quarter-2022-results-maintains-full-year-guidance-due-to-continued-strength-of-linzess-prescription-demand\/"},"modified":"2022-08-04T13:01:46","modified_gmt":"2022-08-04T11:01:46","slug":"ironwood-pharmaceuticals-reports-second-quarter-2022-results-maintains-full-year-guidance-due-to-continued-strength-of-linzess-prescription-demand","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/ironwood-pharmaceuticals-reports-second-quarter-2022-results-maintains-full-year-guidance-due-to-continued-strength-of-linzess-prescription-demand\/","title":{"rendered":"Ironwood Pharmaceuticals Reports Second Quarter 2022 Results; Maintains Full Year Guidance Due to Continued Strength of LINZESS\u00ae Prescription Demand"},"content":{"rendered":"
\n

\n\u2013 LINZESS (Iinaclotide) EUTRx prescription demand growth in Q2 2022 increased 9% year-over-year \u2013<\/i>\n<\/p>\n

\n\u2013 GAAP net income of $37 million and adjusted EBITDA of $56 million; <\/i>ended Q2 2022 with $504 million in cash and cash equivalents \u2013<\/i>\n<\/p>\n

\n\u2013 Completes Board of Directors authorized share repurchase program; repays remaining principal amount of the 2022 Convertible Notes in cash \u2013<\/i>\n<\/p>\n

\n\u2013 Reiterates 2022 guidance of U.S. LINZESS net sales growth of low single digits %, total Ironwood revenue of $420 to $430 million and adjusted EBITDA of >$250 million \u2013<\/i>\n<\/p>\n

BOSTON–(BUSINESS WIRE)–Ironwood Pharmaceuticals, Inc.<\/a> (Nasdaq: IRWD), a GI-focused healthcare company, today reported its second quarter 2022 results and recent business performance.\n<\/p>\n

<\/a><\/p>\n

\n\u201cWe made progress towards our goal of becoming the leading GI healthcare company in the U.S., as the positive momentum across our business continued in the second quarter,\u201d said Tom McCourt, chief executive officer of Ironwood. \u201cWe are pleased by the year-over-year double-digit LINZESS prescription demand growth in the first half of 2022, and we believe there is still significant opportunity to reach appropriate new patients and drive additional growth for the brand. In addition to the commercial success of LINZESS, we continue to make progress with our ongoing clinical trials. We now expect our Phase 3 pediatric study of linaclotide in 6 to 17 year-olds with functional constipation to readout in the third quarter of this year and remain on track with the previously shared data readout timing for IW-3300 and CNP-104. We believe our capabilities in GI, strong balance sheet and disciplined capital allocation continue to position our company for growth moving forward.\u201d\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\nSecond Quarter 2022 Financial Highlights1<\/sup><\/b>\n<\/p>\n

\n(in thousands, except for per share amounts)<\/i>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

<\/td>\n\n

\n2Q 2022<\/b>\n<\/p>\n<\/td>\n

<\/td>\n\n

\n2Q 2021<\/b>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal revenues\n<\/p>\n<\/td>\n

<\/td>\n\n

\n$97,231\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n$104,031\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nTotal operating expenses\n<\/p>\n<\/td>\n

<\/td>\n\n

\n41,576\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n38,933\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP net income\n<\/p>\n<\/td>\n

<\/td>\n\n

\n37,080\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n391,303\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP net income per share \u2013 basic\n<\/p>\n<\/td>\n

<\/td>\n\n

\n0.24\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.42\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nGAAP net income per share \u2013diluted\n<\/p>\n<\/td>\n

<\/td>\n\n

\n0.21\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2.39\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nAdjusted EBITDA\n<\/p>\n<\/td>\n

<\/td>\n\n

\n56,015\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n65,212\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP net income\n<\/p>\n<\/td>\n

<\/td>\n\n

\n37,761\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n56,387\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP net income per share \u2013 basic\n<\/p>\n<\/td>\n

<\/td>\n\n

\n0.24\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.35\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nNon-GAAP net income per share \u2013 diluted\n<\/p>\n<\/td>\n

<\/td>\n\n

\n0.21\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n0.34\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

    \n
  1. \nRefer to the Reconciliation of GAAP Results to Non-GAAP Financial Measures table and to the Reconciliation of GAAP Net Income to Adjusted EBITDA table at the end of this press release. Refer to Non-GAAP Financial Measures for additional information.\n<\/li>\n<\/ol>\n

    \nSecond Quarter 2022 Corporate Highlights<\/b>\n<\/p>\n

    \nU.S. LINZESS<\/b>\n<\/p>\n