Ironwood Pharmaceuticals issues 2026 financial guidance

Ironwood Pharmaceuticals Inc. (NASDAQ: IRWD) provided financial guidance for fiscal year 2026 while maintaining its 2025 projections, according to a company statement.

The biotechnology company projects LINZESS U.S. net sales of $1.125 billion to $1.175 billion for 2026, representing an increase from its 2025 guidance range of $860 million to $890 million. Total revenues are expected to reach $450 million to $475 million in 2026, compared to $290 million to $310 million projected for 2025.

Ironwood anticipates adjusted EBITDA of greater than $300 million in 2026, up from greater than $135 million expected for 2025. The company ended the fourth quarter of 2025 with more than $200 million in cash and cash equivalents.

"Effective January 1, 2026, the LINZESS list price has been lowered in response to evolving health care dynamics and to support ongoing patient access," said Tom McCourt, chief executive officer of Ironwood. The company expects higher net sales in 2026 due to the elimination of inflationary components of statutory required rebates across channels, including Medicaid, resulting from the decreased list price.

The 2026 LINZESS projections are driven by improved net price and low-single digit percentage demand growth. Ironwood met with the FDA in the fourth quarter to align on a confirmatory Phase 3 trial design for apraglutide, a treatment for short bowel syndrome with intestinal failure. The company plans to initiate the confirmatory trial in the first half of 2026.

Ironwood continues its strategic alternatives review process and expects to provide updates when appropriate. The company develops and commercializes therapies for gastrointestinal and rare diseases, with LINZESS being the branded prescription market leader for irritable bowel syndrome with constipation and chronic idiopathic constipation in adults.

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