Ironwood Pharma (NASDAQ: IRWD) reported Q1 EPS of $0.24, $0.03 better than the analyst estimate of $0.21. Revenue for the quarter came in at $88.85 million versus the consensus estimate of $95.2 million.

“We are off to a solid start to the year, as LINZESS continued the strong momentum we saw in 2020,” said Tom McCourt, president and interim chief executive officer of Ironwood. “Prescription demand and new-to-brand prescription volume grew 12% and 24% year-over-year, respectively, which is a testament to the strength and resiliency of LINZESS and the tremendous execution by our team. We ended the quarter with $438 million in cash and cash equivalents, positioning us well to continue to invest thoughtfully into our business. As we look ahead, we are confident there is strong momentum in the business and a strong sense of resolve in our ability to advance the treatment of GI diseases and redefine the standard of care for patients.”

GUIDANCE:

Ironwood Pharma sees FY2021 revenue of $370-385 million, versus the consensus of $315.23 million.

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