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Jun 30, 2024
Ironwood Pharmaceuticals Q2 2024 Earnings Report
Ironwood Pharmaceuticals reported Q2 2024 results, highlighting growth in LINZESS prescription demand and progress in pipeline development.
Key Takeaways
Ironwood Pharmaceuticals reported its second quarter 2024 results, noting an 11% year-over-year increase in LINZESS prescription demand and a 15% increase in new-to-brand growth. The company is facing continued pricing pressure on LINZESS due to higher-than-expected Medicaid utilization trends. Ironwood plans to pursue apraglutide rolling NDA review and expects to complete submission in the first quarter of 2025. They are also on track to deliver CNP-104 topline results in the third quarter of 2024.
LINZESS prescription demand grew 11% year-over-year.
New-to-brand growth for LINZESS increased by 15% year-over-year.
The company plans to pursue apraglutide rolling NDA review, expecting completion in Q1 2025.
Topline results for CNP-104 are expected in the third quarter of 2024.
Forward Guidance
Ironwood Pharmaceuticals revised its FY 2024 financial guidance due to continued LINZESS pricing pressure associated with higher-than-expected Medicaid utilization trends.
Historical Earnings Impact
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