Ironwood(IRWD) - 2025 Q4 - Annual Results

Financial Guidance - Ironwood Pharmaceuticals expects full-year 2026 LINZESS U.S. net sales of $1.125 to $1.175 billion, up from FY 2025 guidance of $860 to $890 million, reflecting a low single-digit percentage demand growth[6] - Total revenue guidance for FY 2026 is projected at $450 to $475 million, compared to $290 to $310 million for FY 2025[6] - Adjusted EBITDA for FY 2026 is expected to exceed $300 million, significantly higher than the FY 2025 guidance of over $135 million[6] Financial Position - As of Q4 2025, Ironwood ended the quarter with over $200 million in cash and cash equivalents, strengthening its financial position[3] Product Pricing and Sales Strategy - The LINZESS list price was lowered effective January 1, 2026, to enhance patient access and is anticipated to drive higher net sales year-over-year[4] - The anticipated increase in LINZESS net sales is driven by the elimination of the inflationary component of required rebates due to the decrease in list price[4] Clinical Development - Ironwood is on track to initiate a confirmatory Phase 3 trial for apraglutide in the first half of 2026, following a meeting with the FDA[2] Strategic Initiatives - The company is progressing its strategic alternatives review to maximize shareholder value and will provide updates as appropriate[4] Revenue Sources - Ironwood's U.S. collaborative arrangements revenue includes reimbursement from AbbVie for a portion of commercial expenses related to LINZESS sales[6] Financial Reporting - Ironwood does not provide guidance on GAAP net income due to the uncertainty of non-GAAP adjustments impacting financial performance[7]