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Mar 31, 2023
Ironwood Pharmaceuticals Q1 2023 Earnings Report
Reported first quarter 2023 results and maintained full year 2023 financial guidance.
Key Takeaways
Ironwood Pharmaceuticals reported a strong start to the year with increased LINZESS prescription demand and U.S. net sales. The company ended the quarter with a solid cash position and is progressing with its pipeline programs.
LINZESS EUTRx prescription demand growth increased 10% year-over-year.
LINZESS U.S. net sales reached $250 million, an 8% increase year-over-year.
GAAP net income was $46 million, and adjusted EBITDA was $60 million.
Ended Q1 2023 with $740 million in cash and cash equivalents.
Ironwood Pharmaceuticals
Ironwood Pharmaceuticals
Forward Guidance
Ironwood Pharmaceuticals maintains its full year 2023 financial guidance.
Positive Outlook
- U.S. LINZESS Net Sales Growth 3% to 5%
- Total Revenue $420 to $435 million
- Adjusted EBITDA >$250 million