IRONWOOD PHARMACEUTICALS INC

Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) is a biotechnology company focused on developing and commercializing life-changing therapies for gastrointestinal and rare diseases. The company's website is www.ironwoodpharma.com.

The company's primary commercial product is LINZESS (linaclotide), a guanylate cyclase type C agonist approved by the U.S. FDA for treating irritable bowel syndrome with constipation in adults and pediatric patients ages seven and older, chronic idiopathic constipation in adults, and functional constipation in pediatric patients ages six to seventeen. LINZESS is marketed under the trademarked name CONSTELLA in Canada and certain European countries. The product is available across multiple international markets including Mexico, Japan, and China through strategic partnerships with leading pharmaceutical companies.

Ironwood generates substantially all revenue from linaclotide collaborations, with approximately 97.7 percent derived from U.S. operations. The company maintains strategic partnerships with AbbVie for North America and expanded territories, AstraZeneca for China including Hong Kong and Macau, and Astellas for Japan. These partnerships enable global commercialization while allowing Ironwood to focus development and commercialization efforts in the United States.

Through its June 2023 acquisition of VectivBio Holding AG, Ironwood is advancing apraglutide, a next-generation synthetic long-acting peptide analog of glucagon-like peptide-2 for short bowel syndrome patients dependent on parenteral support. The company announced positive Phase III results from its STARS trial in February 2024 and is preparing a confirmatory Phase III trial, STARS-2, with site initiations expected in the second quarter of 2026.

The company generated $289.3 million in collaborative arrangements revenue during 2025 and ended the year with $215.5 million in cash and cash equivalents. Ironwood's strategy focuses on three core priorities: maximizing LINZESS commercial potential, advancing apraglutide development, and delivering sustained profits and cash flow. The company maintains a robust patent portfolio protecting linaclotide and apraglutide across multiple jurisdictions, with composition-of-matter and formulation patents providing protection through the early 2030s for linaclotide and into the 2040s for apraglutide.