Ironwood Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 05:38 pm IST
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Ironwood Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported revenue was USD 113.74 million compared to USD 108.64 million a year ago. Net income was USD 15.32 million compared to USD 50.32 million a year ago. Basic earnings per share from continuing operations was USD 0.1 compared to USD 0.33 a year ago. Diluted earnings per share from continuing operations was USD 0.09 compared to USD 0.28 a year ago.
For the nine months, revenue was USD 325.18 million compared to USD 303.4 million a year ago. Net loss was USD 1,001.15 million compared to net income of USD 126.2 million a year ago. Basic loss per share from continuing operations was USD 6.45 compared to basic earnings per share from continuing operations of USD 0.82 a year ago. Diluted loss per share from continuing operations was USD 6.45 compared to diluted earnings per share from continuing operations of USD 0.69 a year ago.
Ironwood Pharmaceuticals, Inc. is a gastrointestinal (GI) healthcare company engaged in advancing the treatment of GI diseases and redefining the standard of care for GI patients. It is engaged in the development of LINZESS (linaclotide) for adults with irritable bowel syndrome with constipation (IBS-C) or chronic idiopathic constipation (CIC). Linaclotide is also approved for the treatment of functional constipation in pediatric patients ages 6-17 years old. It is advancing apraglutide, a long-acting synthetic glucagon-like peptide-2 (GLP-2) analog being developed for rare gastrointestinal diseases, including short bowel syndrome with intestinal failure (SBS-IF) as well as several earlier stage assets. It is advancing IW-3300, a GC-C agonist, for the potential treatment of visceral pain conditions, such as interstitial cystitis/bladder pain syndrome (IC/BPS), and endometriosis. It is also developing CNP-104 for the treatment of PBC, a rare autoimmune disease targeting the liver.