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    Matthew Cowper • Leerink Partners

    Matthew Cowper's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership

    Matthew Cowper's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership • Q4 2024

    Question

    On behalf of Faisal Khurshid, Matthew Cowper questioned the expected magnitude and timing of apraglutide launch expenses, what level is included in the 2025 EBITDA guide, and the company's strategy for managing its 2026 convertible notes.

    Answer

    Executive Greg Martini explained that apraglutide launch expenses are not significant in 2025 but will ramp up in 2026 closer to launch. Regarding the 2026 convertible notes, he stated the company's current focus is on strengthening the balance sheet by using profits and cash flows to repay existing debt, and that they continually evaluate their capital structure.

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    Matthew Cowper's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership • Q3 2024

    Question

    Matthew Cowper, on for Faisal Khurshid, asked about the required sales force size for apraglutide, how the selling effort would be integrated with the current LINZESS team, and the degree of prescriber overlap between the two drugs.

    Answer

    CEO Thomas McCourt described leveraging the existing, tenured GI sales force as a 'towering strength' for the apraglutide launch. He noted a 'great deal of overlap' in physician offices and stated that apraglutide, as a rare disease drug with fewer prescribers, can be 'easily folded' into the current selling structure for a rapid launch.

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