Ironwood Pharmaceuticals, Inc. (NASDAQ: IRWD) reported disappointing third-quarter 2024 financial results on Tuesday, sending its shares tumbling in pre-market trading. The biopharmaceutical company's adjusted earnings per share missed analysts' estimates significantly, overshadowing a slight revenue beat.
For the quarter ended September 30, 2024, Ironwood posted adjusted earnings of $0.02 per share, falling well short of the consensus estimate of $0.08 per share, representing an 83.3% decline compared to the prior-year quarter. The company attributed the weaker earnings to pricing pressures on its flagship drug LINZESS in the U.S. market.
Ironwood's revenue for the quarter came in at $91.6 million, narrowly surpassing analysts' expectations of $91.2 million but marking a 19.5% decrease from the same period last year. The revenue decline was primarily driven by lower sales of LINZESS due to the pricing headwinds.
Despite the disappointing quarterly performance, Ironwood maintained its full-year 2024 financial guidance. The company continues to expect total revenue in the range of $350 million to $375 million and adjusted EBITDA above $75 million.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。