Q2 2024 Ironwood Pharmaceuticals Inc Earnings Call Transcript
Key Points
- LINZESS prescription demand increased by 11% in Q2 2024, with new-to-brand prescriptions growing by 15% year-over-year.
- Ironwood Pharmaceuticals Inc (IRWD) generated $33 million in operating cash flow during the second quarter.
- Positive feedback received on apraglutide's clinical profile, with potential to be the drug of choice for short bowel syndrome.
- Progress made towards apraglutide NDA submission, with a rolling review process expected to begin in Q4 2024.
- Strong engagement with patient advocacy groups and positive feedback from patients and prescribers on apraglutide.
- LINZESS faces pricing headwinds due to higher-than-expected Medicaid utilization, impacting US net sales.
- Ironwood Pharmaceuticals Inc (IRWD) revised its full-year 2024 guidance downward due to increased Medicaid utilization.
- Q2 2024 revenue decreased by 12% year-over-year, with a GAAP net loss of $1 million.
- Higher Medicaid utilization trends have magnified pricing pressures associated with the AMP cap repeal.
- Commercial margins for LINZESS were lower than anticipated, affecting profitability expectations.
Thank you for standing by. My name is Celine, and I will be your conference operator today. At this time, I would like to welcome everyone to the Ironwood Pharmaceuticals Q2 2024 earnings call for investor update conference call. (Operator Instructions)
I would now like to turn the call over to Matt Roache, Director of Investor Relations. Please go ahead.
Thank you, Celine.
Good morning and thanks for joining us for our second-quarter 2024 investor update. Our press release issued this morning can be found on our website.
Today's call and accompanying slides include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties that may cause actual results to differ materially. The discussion of these statements and risk factors is available on the current Safe Harbor statement slide, as well as under the heading Risk Factors in our annual report on Form 10-K for the year
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
