Ironwood Pharma (IRWD) Tops Q2 EPS by 7c; Reinstates Guidance

Ironwood Pharma (NASDAQ: IRWD) reported Q2 EPS of $0.16, $0.07 better than the analyst estimate of $0.09. Revenue for the quarter came in at $89.43 million versus the consensus estimate of $86.24 million.

– Grew LINZESS® (Iinaclotide) total prescription demand by 9% year-over-year; new-to-brand prescription demand grew >15% in June 2020 compared to March 2020 –

– Made important updates designed to strengthen IW-3718 Phase III program; FDA indicated that long-term safety study for IW-3718 is not required for an NDA submission –

– Reinstating full year 2020 total revenue and LINZESS net sales growth guidance; reiterating adjusted EBITDA guidance –

GUIDANCE:

Ironwood is reinstating its full year 2020 financial guidance as originally disclosed as part of its fourth quarter and full year 2019 financial results. Ironwood had previously withdrawn its full year 2020 financial guidance, with the exception of its adjusted EBITDA guidance, due to uncertainties regarding the potential for and magnitude of certain COVID-19-related impacts on its financial performance.

For earnings history and earnings-related data on Ironwood Pharma (IRWD) click here.

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