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    Timothy Chiang • Capital One Financial Corporation

    Timothy Chiang's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership

    Timothy Chiang's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership • Q2 2024

    Question

    Timothy Chiang asked about Ironwood's interactions with patient advocacy groups for apraglutide, whether payer discussions have begun, and followed up on LINZESS JV commercial margins and the Q2 gross-to-net adjustment.

    Answer

    Chief Medical Officer Michael Shetzline confirmed strong links and enthusiastic feedback from patient advocacy groups, who appreciate the once-weekly dosing. COO & CFO Sravan Emany addressed the financial questions, stating the company remains focused on maximizing LINZESS brand profit and that the revised guidance fully accounts for the increased Medicaid utilization expected for the remainder of the year.

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    Timothy Chiang's questions to Ironwood Pharmaceuticals Inc (IRWD) leadership • Q1 2024

    Question

    Timothy Chiang asked if earlier-week data from the STARS study for the CIC patient population would be presented at DDW, particularly for secondary endpoints. He also inquired about the high placebo effect seen in the study and whether certain secondary endpoint data could be included on the drug's label.

    Answer

    CMO Michael Shetzline confirmed that earlier-week data for CIC patients, including 24-week data, will be presented at DDW and will support the drug's efficacy. He clarified that the placebo rate on the primary endpoint was low (12.5%), and the higher rate on a 48-week secondary endpoint could be due to the novel endpoint and the study's weaning algorithm. While acknowledging the challenge, he stated they will work to get as much supportive data as possible into the final label.

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