Ironwood sees FY26 revenue $450M-$475M, consensus $319.47M

Core Insights - The company projects adjusted EBITDA exceeding $300 million for FY26, emphasizing a focus on maximizing LINZESS, advancing apraglutide, and ensuring sustained profits and cash flows [1] - A strategic decision has been made to lower the LINZESS list price effective January 1, 2026, to adapt to changing healthcare dynamics and enhance patient access, which is expected to lead to higher net sales year-over-year [1] - The anticipated increase in net sales is attributed to the removal of the inflationary component of required rebates across various channels, including Medicaid, due to the reduced list price [1] - The company is committed to disciplined expense management, which is expected to contribute to the projected adjusted EBITDA of over $300 million in 2026 [1] - Ongoing strategic alternatives review is in progress to maximize shareholder value, with further updates expected [1]