Ironwood(US:IRWD) Businesswire·2026-02-25 12:05Core Insights - Ironwood Pharmaceuticals reported its fourth quarter and full year 2025 results, highlighting significant developments in its product LINZESS and the advancement of apraglutide [1][2]. Financial Performance - Total revenue for Q4 2025 was $47.7 million, down from $90.5 million in Q4 2024. For the full year 2025, total revenue was $296.2 million, compared to $351.4 million in 2024 [3][11]. - GAAP net loss for Q4 2025 was $2.3 million, or $(0.01) per share, compared to a net income of $2.3 million, or $0.01 per share, in Q4 2024. For the full year 2025, GAAP net income was $24.0 million, or $0.15 per share, compared to $0.9 million, or $0.01 per share, in 2024 [3][40]. - Adjusted EBITDA for Q4 2025 was $10.9 million, down from $37.3 million in Q4 2024. For the full year 2025, adjusted EBITDA was $138.1 million, compared to $129.4 million in 2024 [3][12]. Product Performance - LINZESS achieved 11% year-over-year demand growth in 2025, treating over 5.7 million unique patients since its launch. However, U.S. net sales for LINZESS were $163.2 million in Q4 2025, a 27% decrease from $223.0 million in Q4 2024, and $864.5 million for the full year 2025, a 6% decrease from $916.3 million in 2024 [2][8][9]. - Total LINZESS prescription demand in Q4 2025 was 63 million capsules, a 13% increase compared to Q4 2024, and 234 million capsules for the full year 2025, an 11% increase compared to 2024 [8][9]. Strategic Initiatives - The company plans to focus on maximizing LINZESS, advancing apraglutide, and delivering sustained profits and cash flows in 2026. The financial guidance for 2026 includes expected U.S. LINZESS net sales of $1.125 - $1.175 billion and adjusted EBITDA exceeding $300 million [2][13]. - Apraglutide is being developed for short bowel syndrome patients dependent on parenteral support, with a Phase 3 clinical trial (STARS-2) expected to initiate in Q2 2026 [8][10]. Corporate Developments - In December 2025, Ironwood entered into a settlement agreement with Ferring International Center S.A., agreeing to pay $12.5 million, with $7.5 million paid in December 2025 and the remaining $5.0 million due by December 31, 2026 [10].