Ironwood Reports Mixed Q4 Results; Linzess Joins Blockbuster Club As US Sales Exceed $1B

Ironwood Pharmaceuticals Inc IRWD reported Q4 FY21 sales of $117.1 million, compared to $116.7 million in Q4 FY20, beating the consensus of $109.87 million.

• Ironwood recorded $113.7 million in collaboration revenue in Q4 related to sales of LINZESS in the U.S., a 2.7% Y/Y increase, and $3.4 million in royalties and other revenue. 
• Total LINZESS prescription demand in Q4 FY21 was 42 million LINZESS capsules, a 10% Y/Y increase.
• The company posted Q4 adjusted EPS of $0.27, down from $0.36 a year ago, missing the consensus of $0.35.
• Adjusted EBITDA was $56.95 million compared to $65.95 million a year ago.
• CEO Tom McCourt said, "I am proud to share that LINZESS has earned blockbuster brand status with more than $1 billion in U.S. net sales in 2021, an extraordinary accomplishment for our company."
• Guidance: Ironwood continues to expect FY22 U.S. LINZESS net sales growth in low single digits %, with total revenue of $420 million - $430 million, versus the consensus of $426.9 million.
• The company expects adjusted EBITDA of more than $250 million.
• Price Action: IRWD shares are down 5.64% at $10.38 during the market session on the last check Thursday.