Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 08:30 am ET


Ironwood Pharmaceuticals, Inc. (NASDAQ:IRWD) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Ironwood Pharmaceuticals Fourth Quarter and Full-Year 2019 Investor Update Conference Call. [Operator Instructions]

I would now like to hand the conference over to your speaker Meredith Kaya. Ma'am, please go ahead.

Meredith Kaya

Good morning, and thanks for joining us for our fourth quarter and full-year 2019 investor update. Our press release crossed the wire this morning and can be found on our website,

Today's call and accompanying slides include forward-looking statements. Such statements involve risks and uncertainties that may cause actual results to differ materially. A discussion of these statements and risk factors is available on the current Safe Harbor Statement slide, as well as under the heading Risk Factors in our quarterly report on Form 10-Q for the year ended September 30th, 2019, and in our future SEC filings. All forward-looking statements speak as of the date of this presentation, and we undertake no obligation to update such statements.

Also included are non-GAAP financial measures, which should be considered only a supplement to and not as substitute for or superior to GAAP measures. To the extent applicable, please refer to the tables at the end of our press release for reconciliations of these measures to the most directly comparable GAAP measures.

During this today's call, Mark Mallon will begin with an overview of the year; Tom McCourt will highlight our progress across our GI portfolio; Mike Shetzline will provide additional detail around our upcoming Phase II data readout for MD-7246; and Gina Consylman will close by discussing our fourth quarter and full-year 2019 financial results and 2020 financial guidance. We'll be referring to slides via the webcast. For those of you dialing in, please go to the Events section of our website to access the webcast lines.With that, I'll turn the call over to Mark.

Mark Mallon

Thanks, Meredith. And thanks to everyone for joining today. 2019 was a transformative year for Ironwood and we are excited to share our full results with you.

In April 2019, Ironwood was launched as a newly focused company with a clear vision to become the leader in US GI health care. The GI landscape represents an area of large unmet need; one, where we believe we could have a real impact for patients. There are 70 million Americans suffering from GI diseases. That's one in every five people. Grounded in innovation with the demonstrated knowledge, expertise and capabilities to build blockbuster GI brands, Ironwood is dedicated to advancing the treatment of GI diseases and redefining the standard of care for these patients.

In order to achieve our vision we set out three strategic priorities: drive LINZESS growth, advance our late-stage pipeline and deliver sustainable profits. We are in the early stages of executing against each of these with substantial progress in 2019 and positioning us well for 2020 and beyond.

I'd like to hit on a few of our 2019 highlights and then pass it onto the team to talk in detail. First,