- Earnings call transcript Q3 2022

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Operator

Hello. My name is Lisa, and I will be your conference operator today. At this time, I would like to welcome everyone to the Ironwood Pharmaceuticals Third Quarter Investor Update Call. [Operator Instructions] I would now like to turn the call over to Mr. Matt Roache, Director of Investor Relations. sir. ahead, go Please

Matt Roache

Good quarter thanks XXXX Lisa. for joining our third investor morning, you, for and us Thank update.

only forward-looking and Our can press may discussion slides cause call materially. to uncertainties of be forward-looking a speak reconciliations are morning statements a presentation, include accompanying A to included to end All found to on actual risks release filings. SEC at our supplement of website. these no tables that issued To such for and statements. Such this these differ date GAAP to involve update results of Today's please for XX-K not heading statements for non-GAAP the the this our report as well slide applicable, financial safe harbor directly and statement future to annual December substitute ended risk we obligation GAAP factors year superior our under the as release is measures. Risk the XX, undertake available of statements refer considered on press as in or in measures. measures, on Form Also extent the the the current comparable and Factors which the most measures as XXXX, statements. of our and and be should

McCourt, includes Sravan LINZESS. will guidance. Today's and Shetzline, pipeline; and Mike our During Chief our slides. strategic Officer, will performance of discuss our on our Tom CEO, our review today's priorities call, results update Financial review Chief our commercial webcast and provide financial the an Emany, will Officer, Medical

accompanying the over our section go please that, to Tom. to I'll website turn dialing Events call for So you With those to the access separately. of of slides in, the

Tom McCourt

we everyone, joining Thanks, and share thanks as for Matt. third quarter Good results. our today us morning,

redefine treatment very standard and we diseases advance year the made have approach bring and important priorities, are to we've of GI we our back medicines patients. the on we the end in with progress pleased the made to of across look GI strategic As care strides

opportunities As priorities we X. assets and move sustained strategic forward, our strengthening we a as new our with Slide begin profits GI to and I'll remain portfolio to of overview continuing on brief deliver well for LINZESS unlocking cash flows. with committed innovative

of low total Our third third prescriptions performance the maximizing full report a X extended remarkable Based continued the pleased growth. LINZESS. in exceeded In and with quarter, maintain achievement. year the strategy we first year-over-year unit are time, for begins delivered single-digit LINZESS percent on quarter, demand the the brand growth million to prescription of guidance quarter, sales the we our through strong net double-digit

believe forward, patients reach a there Going prescription adult and to new additional significant demand we drive appropriate opportunity growth. still is

build from this expand innovative X of the and an and critically functional Second, clinical organic assets the target portfolio, and XX-year-old acquisition we to serious of In internal position as functional Phase X in of company adolescents closer population to the Mike constipation. LINZESS X- the estimated highlighted being programs add the constipation. trial pediatric patients with X update. but to XX-microgram safety in the potential the from We, a a LINZESS top are to data that an detail are discuss of seeking submit the in-license the supplemental few future and to brings U.S. one AbbVie, step both data more minutes, a population pipeline to potentially age in for with our our children the suffer positive underserved the Results we through III the by will us assets to continued quarter, at advanced data by NDA our million exciting of able we this patient disease supporting of market to GI investor the end of million third utility line that development to to body will we through growth. external along in believe planning XX line top forward the sharing of look opportunity year. LINZESS study on

cash balance profits II interstitial the progress Phase and Cholangitis the proof-of-concept across Next, for the are We're study and growth Phase ourselves we third progress, And moving IW-XXXX bladder pleased study study position ended sheet. with that in for X potential equivalents to of and we pain with in and proof-of-concept will treatment our activities strategic we generate the for to patients million continues CNP-XXX Biliary Primary quarter finally, $XXX to and continue continue for forward. believe syndrome. continuing start-up cash II the on with cystitis priorities

a third on of extended Now constipation. In through demand a lead let's year-to-date with the share to of further year-over-year, market and exceeded on TRx adults on utilization and the prescribed the expectations. full prescription line in as increased the year unit both LINZESS to see among continues and quarter Slide practitioners, X.X for quarter, prescription quarter treatment quarterly continued LINZESS September, XX% our In versus increase in the basis commercial LINZESS chronic total share, X. in turn IBS-C LINZESS additional XXXX. XX% the the share in care for details reinforcing medicine U.S. position #X the with some to high performance third our branded health

a was performance driven by indicator future this an potential acceleration in growth. new Importantly, key for prescription volume,

of investment promotion and patient the class-leading support all-time health an for to satisfaction, new access. this high access help clinical strong the formulary LINZESS and achieved care patient consumer quarter prescription The to in compared X% and in third was volume practitioners for XX% both fact, increased by XXXX. professional and driven high foundation share performance new-to-brand In focused our is excellent profile,

of to functional III to constipation. by more Finally, recent LINZESS advancing X- the the utility our in to and pediatric program XX-year-old as data we're committed treatment of positive help patients clinical opportunities need broaden evidenced Phase in

to recently, say about College of of proud meeting, you share We updated on American IBS-C. and guideline the have symposium ACG we or included excited commitment I'm in a Gastroenterology, LINZESS big in the ahead receive reinforcement adults be As who of to highly part patients' very leadership real like more our was the GI, thank our therapy of all our updated a couldn't opportunities over for continue to of which we can strong I the and Mike? other Ironwood excited in today I against priorities We're recommendation the we're treatment to treatment only June, attended with impact foundation that strong living as strong powerful with and the to recommendations. the now to a in for symptoms LINZESS like us. frustrating it that guidelines, AGA also help IBS IBS-C treatment to lives. adults would that Mike, employees the would who laid programs. pipeline momentum in strategic will continued execution to hand our make help position a a discuss

Mike Shetzline

everyone. Tom, Thanks, morning, and good

most X.XX. to Phase movements continue micrograms pipeline of of progress to shown and is consistency to ages III this X frequency FDA-approved bowel with that with an in improvement positive the showed on of the endpoint X significant as with Bristol generally week by squared at frequency pleased fulfilled bowel XX, endpoint. September that spontaneous quality SBMs additional age improved patients in begin patients, SBMs X.X% population. well event which for trial, that the about rate line results functional per criteria X we our common XX per linaclotide-treated assessed versus and across showed XX-week and reported I'll the the X:X frequently spontaneous the XX LINZESS least is therapy line XX adding statistically first age key clinical was become We're data stool excited pediatric a a of Stool and at top Phase indicated really total safety between Stool the patients children with or compared aged in and consistency the complaints existing the week ROME secondary group, constipation. in placebo. GI in week, We're a constipation results A linaclotide to constipation. A change clinically prescription baseline evaluating well with placebo randomized demonstrated the to in for to Form study micrograms which to most of have twofold main for daily this tolerated tolerated. Slide showed was compared data Functional linaclotide pediatric modified to the or of Scale, meaningful the on patients Linaclotide-treated X. X Top a greater linaclotide population. data treatment-emergent placebo programs. linaclotide brief adverse summary XX placebo XX was impact was was We top than trial III once line movement primary positive make XXX constipation functional from significant patient's linaclotide linaclotide compared X.X% in occurred child/adolescent The data of in Overall, one in potential improvement ratio diarrhea, from in the announced to life. were functional III group, a the placebo.

the encouraging safety its are to functional understanding pediatric therapeutic patients constipation XX our to Slide of linaclotide to patients strong of from disorder. these age and X These potential to XX. profile further demonstrate and of provide evidence Turning benefit data with suffering this in

a we, this supplemental mentioned, the based Disease of drug the our plan for partner, Week Tom with and data year. We'll submit of new patient line top application the detailed on AbbVie, by a submit need. end We to year. meeting Digestive plan to May planned a next request to data As priority review the along unmet

asset beginning CNP-XXX the pain recruit COUR activities continues treatment IC-BPS. next study the biliary patients in the attend this with clinicians Patient in and and year, the guanylate the were PBC. awareness for Phase Cholangitis time half this raise with the Primary be see cure plan as additional members and to to education came alike or early the At PBC details year, expect enroll therapy to Next, CNP-XXX, by year. early finalize a disease. had designed now this friends the to patients, of if data Conference we're significantly potential the primary completing excited diagnosed finally, potential study turn conditions, first in Phase to has opportunity design meeting, we agonist financial that, And review treatment investigators potential patients. IW-XXXX, root to and disease-modifying people study volunteers family II devastating nanoparticle cyclase-C study earlier Biliary of members to the together we continuing I CNP-XXX to PBC, truly interstitial family platform successfully provide the novel second October cause of it patients to clinical this Education With first where I'll potentially I start-up treatment for the and and believe We for healthy the XXXX. for in dosing on in provide expect plan visceral XXXX. such cholangitis. COUR's clinicians to successful, the our Pharmaceuticals targeting and shift of in studies proof-of-concept cystitis/bladder pain to help support XXXX Ironwood and and Since wholly-owned syndrome We and performance. Sravan a over paradigm for

Sravan Emany

to we growth. forth Thanks, year. our we track third quarter, to the beginning Mike, LINZESS achieve guidance to press put continued information. refer good date, performance demand this on strong on at had financial of everyone. impressive our detailed Please the Based morning, release driven a for We and financial our double-digit by remain

offset sales LINZESS is a demand demand up price third X% third of erosion sales X% net the Strong XX% year-over-year. growth and U.S. by net Year-to-date, were year. XXXX, quarter, quarter growth prescription third LINZESS through LINZESS $XXX is million the XXXX. quarter increase prescription of year-over-year net versus partially in to the compared prior was up Now the

the full growth LINZESS by prescription to U.S. demand. continue we driven net single expect in year, sales double-digit low digits the For

Turning XXXX XX%. in to was the LINZESS brand profitability. margin third of quarter Commercial

of revenues quarter Moving revenues million, revenues. of were million. XXXX, to the by $XXX primarily U.S. LINZESS Ironwood driven $XXX third collaboration In Ironwood

and income profitability. Next, expense tax

XXXX. third Ironwood income EBITDA of million GAAP expense. tax net of the quarter was $XX During million, and $XX quarter income of in was million $XX the recorded adjusted XXXX, third

to cash the and with and from priorities. allocation the Turning cash quarter, cash in ended flow million we and million $XX cash In third our in quarter equivalents. operations capital $XXX generated

highly priorities Our be to to LINZESS pursuing focused and differentiated investing innovative, portfolio. on our add to capital continue allocation maximize assets GI actively to

the value long maintain and for We continue and over bar patients we allocation. thoughtful create take approach and to shareholders term. to a disciplined capital evaluate a We to high aim potential as investments

We are in generation. of cash biopharma a strong company fortunate and being a profitable position flow unique with

our months $XXX principal than roughly by repayment sheet. share and over with to cash the program million the XXXX end position. $XXX and cash strengthen million of XX convertible equivalents deployed And past repurchase our leading our have track million on are year notes financial $XXX $XXX on We million to balance the we greater of

Turning to guidance our Slide XX. XXXX on

We reiterating of the XXXX year strength prescription full remain double-digit expectations as continued demand are our confident with guidance LINZESS in financial growth. we of

X for net We continue to low priorities. revenues sales EBITDA than royalty $XXX positioned believe which continued growth of adjusted other in our and Ironwood $XXX strategic focused single-digits our expect and U.S. company to million on million.We greater includes remain $XXX in revenue and LINZESS growth million percent. the advancing well approximately $XX million, is of

deliver to our close thanking improve value. disorders. lives all supporting now caregivers GI and of patients, and for employees, up about the excited patients shared us the dedication their to the want I line are therapies of questions. to GI Operator, of open advocates for for opportunities advancing may shareholder you ahead We and by

Operator

[Operator Amsellem Piper David of of Your first the comes line Instructions] from question Sandler.

Unidentified Analyst

This David. for on is Isaac

Bausch the IPR price we a us Can net Viatris so First next saw been for to generic we how sense realized for give relative peers to an have one you And gross year conversations file the should XXXX one TRULANCE. our Secondly, expect on this far? net. playing of year? recently against what on payer out

update. of infrastructure? some generic up on asset early a commercial entrant a you and your your for can, do BD your really has question maybe my then a M&A environment, near-term So potential impact the given theoretically, last very LINZESS? on And leverage course, into existing of about asset you an appetite capital to the stage of this where It's think you in for lever launch sales Would visibility structure. is how extent that or state

Sravan Emany

Thanks for your questions, Isaac.

-- Let think I then overall, tackle question. by start then BD M&A me question, and at and moment. price into generic go the the process the I'll we'll thought And

in this with time, can say really that pleased the First, guidance want on at do the couple of We're hopefully January. a at strong provide things. conference the in One, I our What we're has able driver drive easily prescribable price, forward be patients. is look, we're today come mind clear, but and been we'll not in important greater think I easily details. it a to to an the that the access. demand that important. we've with growth quarter XXXX and and call. of investor of double-digit payer reason our has for caregivers been by to access obtainable the make always our growth class-leading LINZESS, is I Market been ability third growth notion early that of position look -- And our by yet, to we back doing is to

access we demand focused on in are heavily of growth. so driving ease -- and very And

will the not said think going still single-digit than different. moderate in I to high XXXX. we single-digit that early suggest is more give would this what have ready January. we we're of in but is probably There's high we less that think nothing -- XXXX, the year-over-year what I And in say start it our year, We that negotiations that better believe that be that guidance or relative until would year we is communicated decline. when to communicate think will erosion that we're XXXX moderate to -- moderated price be at I So

on just second generic do Tom, question you the on maybe, to entrant, comment about want then And that? early Okay.

Tom McCourt

Sure, Sravan.

have market. to this strong broad been clinical leader similar estate a X. real been to can has continues the it it's very several manner. has important And can't of has in think thrive. were should access all, first from all is But LINZESS the high -- But also thrive what very and to entrants their able comment we of think And into of product but the market When matter. gone able satisfaction, generic on, obviously, with remember, we patent have. IP the also launched same strong and obviously, you real important estate. is, it's a very I our Obviously, we I the share with generic. the regard all I payer PEG, generic to There continued expect day marketplace, reasonable to a you know, ANDAs settle would to we've that the on to market because AMITIZA I substance be with certainly their playing do as position profile ours to we thing. in

obviously, market is to and capture to to grow really take as new that pediatric the brand don't a changing. job our we support another but this there's million all mix our million payer leader from the share X of and a see continue growth to and refine it because marketing is growth, continue that out been, LINZESS adds we the promotion disproportionate So drive demand that XX threats continue as we to million people this has access, in successful seriously, indication, to patients. to because continue as there of market lifeblood to mind, very with to suffering X Keep just growth

be demand, that we continued maintain to So momentum. just to need and expect to see we growth able in

Sravan Emany

moment. BD thought I the question Thanks, Tom. processes M&A And around and think the at last

priorities, we've committed innovative GI look, I remain that. build And portfolio. one to in an strategic think out we to noted as our is So of them

the into an portfolio. in to have organization, certainly we assets as goal So bring more the

and approach, set completing create really the that deals especially capital We evaluating a and transactions, environment, sure bar do a want high for value. to we taking and have in are make this on we though, allocation very disciplined

We generating strategy a do or actively ability to and free that opportunities. do pillar around think to sustainable that. And cash we see that third overall evaluating our that our profits have ability from the impairing our our transaction are I jeopardizing don't perspective, severely is in I flows. we do

And to something so and we're if rates. can we'll that think back and our meets I and when we assets, hurdle looking the requirements find market circle for

Operator

from question line Peaker. the of Boris Next comes

Boris Peaker

LINZESS also Curious questions market? pediatricians? of me. functional size first couple on by much is question second pediatric how constipation. of the could XXX. A on quantify And is of prescription you for written the And Maybe that if current

you expectations we If interpreting not maybe year, just help us set know some of clinical can I expectations. do but be how next bookmark of should what's that? to coming kind

Sravan Emany

second right. the CNP-XXX, Thanks, we'll Great. Boris. Maybe start pediatrics, then and to right. the with question All we on all go

will So the first Mike answer one.

Mike Shetzline

question, Boris. the for Thanks Sure.

So in CNP-XXX, I here. actually terms aspects. X one, benefit mean from of there are and regulatory data history we for precedent

the As the phosphatase alkaline in PBC, there phosphatase. improvement market you around endpoint within know, to current used are and their that alkaline on products they've be And are meaningful. clinically in metrics thought

of So efficacy in Phase II pharmacodynamic tolerability the study. and safety, our clearly, one phosphatase endpoints alkalkine and is

cell obviously, that's disease do, response enzyme also driven response to with science as key unique antigen patients we're that at preparing mentioned literally autoimmune on in PBC. look measure the we've with diseases. would antigen, technology, a an about the also going is this T around by component the Because we again, autoimmune really quite it's important we impact have regulatory new the the patients mitochondrial autoimmune that is talked And and opportunity calls, interactions. earlier. now But in the for complex that with we PDC-EX PBC for is amazing, other So what the this immune prior realize to to in

us that being power So sense data. very in of having to for the a take opportunity tangible gives lot able the readout objective, interpret a to

into in we benefit the Because that very because to responses efficacy, And in histologic are changes, PBC real focus to really gives a the is an how going downstream. think, improvement. give the a study will as in on so these these general also opportunity look in And of nice alkaline T-cell targets for really in but to or challenges phosphatase of liver liver clinical us tangible I the function benefit. immune clinical us, at likely this ability index to translate additional know, disease a as well one read like real or you read biomarker drug's

Sravan Emany

I address don't on you then this And maybe, one. Great. why think pediatric, the Tom,

Tom McCourt

diseases X as is from not So mentioned, as why is estimate really as which X they reasons disorder. the which highly we million from really suffer have. we it's the and child even to I physician. and we've of see really, parent I market real X mean target in are kids, the that Basically MiraLAX, the basically a XX, all kids available attractive which far them one of And to these kind takes symptomatic have size, million prevalent think, the this liquefies to top stools. to functional constipation isn't approved is

very the water. So to is is a going market profile, it's dose. an very far these little to dissolved it basically clinical so can XX-microgram patients. I mean tricky on research response be And of or particularly to in It seen food profile, the we've encouraging. positive isn't additional a what the sprinkled which dose tolerability in which manage be very, will require course,

easy administer MiraLAX. very liquid to will be it, unlike the it So

responsive to adults. a certainly we're know real this guide this. current for a I concentrated this still but particularly base us how is to really evaluating prescriber the utilization responsive with the as But is, which overall. there where there We're it's a promotionally There's opportunity. think think is out couple going it's far of As very isn't utilization, the there, is upside publications pediatric see use But let it. date. around to of some much And been we very promotional gastroenterologist, kind market I data

the we in channels and of increase drive and physicians be thing terms educate going And who really we're of for targeting level can leverage communication patient to demand. in determine required. really kids. marketing then what expect to is a it's what to are going dramatic we see But mix the We investment we refining same the investment, don't

Operator

[Operator line with Wolle question from Instructions] Your JPMorgan. next the of Daniel comes

Daniel Wolle

questions. Two

mentioned in that observed do why First, has the prepared think not be exploration you -- that going highly prescription a an that given second, to autoimmune PBC an And historically, remarks, conventional has new XQ. immunosuppressive that to driving it's highly What's indication is been in of disease, responsive growth? challenging you drugs?

Sravan Emany

Yes.

So there the you second can maybe, component Mike, on tackle PBC.

Mike Shetzline

Sure.

think least it's approaches, lot to the gotten cytokine good approach they're X, more great pathology therapies, it And pathology. or in pathology of really a a anti-TNFs of certainly, I whether lot the autoimmune those sometime you're a is with for little for inability at of to is diseases, decades. immunologic bit terms a about -- and processes of about of of date We immunosuppressive a pathways. last it specific lot in interplay the a agents learned have those reality doesn't question. available talking approaches but the different think in sort I the we've PBC, really I wrestle the X mean with

So can the probably accurate, to a is unique cells T PDC-EX that and all improved of is autoimmune in respond antigen. specific immunotherapies your disease have it's and T statement CDX which very likely CDX the driven I by PBC, specific subtype right? beneficial cells, to Those features say of that is that

that a other the specific more be But impact that that for that of benefit. PDC-EX-antigen. very enough sort gets could focused very those the reaching use that a haven't And right, the is in or clinical that's able antigen PBC. duct for immune because COUR a it's I actually to diseases cause attack. And suppressive disease technology taken it's makes -- mentioned that agencies could like the root given that that's bile that focus, so focused been that if word, immune the what is approach the what on epithelial I approach nanoparticle just of the And target flip side is to case, So with that of has this specific cells.

and the we're positive side platform program. gives flip of very the excited for it about think tolerance quite I a really a because why the in that PBC, focused So pathology us attack is that's

Sravan Emany

remarks think clear. I was in And Yes. pretty Tom his

are we long that a there driving I that think new And growth. I think were made foundation of the things It's strong customer also terms the with X we really on drug. side profile. LINZESS in -- There's so the that and of to are strong successful side they're brand run. professional then what's as satisfaction thing I been leading it along And again, and brand clinical on have it's about class promotion, the coverage, lastly, all investment new-to-brand in There's know, well. real the focused that and our then are our don't , those patients there's I if providers we've support but Tom, the big anything talking of the else think I call, helps think you drivers formulary think is which leading. our quarter. well, growth on consumer

Tom McCourt

on. spot Sravan, think that's I

we the Nobody increased the DDW the a other really ago, that of is keep thing showing excellent prevalence out of significantly in year to pretty data understands coming has presented pandemic. mind think I at why. IBS-C

that. a certainly probably know lot of in I which It's symptoms. think IBS trigger inherent does the we it's stress,

consumer activation for digital And activation we're one, heavy increased office. patients to space, our marketing real in of to that's think traffic, point, seeing, we I been evolve number continue to successful presenting and mix, a the both particularly very to as mix, market there's refine Sravan's So patients but we an help. know some primarily that where we continue the on physician's consumer looking

be think it and and continues about Two, to we to suffering lot very more prescribe, grows. seeking actually of point to this also push know think we that I is drug brand easy as this earlier, patients, care. that's we've I suffering patients, a very So Sravan's got promotionally strong sensitive a

Operator

question Next from Chiang One. the Tim line with Capital comes of

Tim Chiang

as a potential Mike, follow-on classify question there a CNP-XXX. going this targeted medicine? you're biomarker this is a -- specific mean Is in I after would had I on targeted PBC? you

Mike Shetzline

Yes.

that think root the I PBC, immune one The PBC that amazing, First, because mitochondrial really antigen, that. this a also -- bile that the is so is great things Tim, PDC-EX. this question problem of this if cause whole say scientifically that's duct with because system with Patients PDC-EX that the really makes it's host destroys PDC-EX could a it cells and with problem. have reacts and takes their to way, I antigen of

and PDC-EX in it as and very system native a PBC-- the an that's targeted hallmark the a is to opportunity. to looks at That very duct or protein it's makes kills of reacts it mitochondria, the it and unique cells. a So foe immune what bile that patient's enemy your really and the point,

this antimitochondrial you is that antimitochondrial PDC-EX diagnostic criteria to PBC. diagnose the antibody That's in antigen the for And in an really with for antigen is because it patients. of response PBC patients looking body's So one by PBC.

an antigen, immune to that it's they host altered So a patients. these very have unique us antigen lets and in target that really this antigen response

approach almost quintessential So principal you're which this I addressing, precision agree of medicine. with this kind is is

You're patients PDC-EX-directed giving therapy problem. a with . PDC-EX to a

Tim Chiang

Mike. of Okay. study, guys or In there No, using your is assay as COUR’s helpful, an part are trial? that's actually the that you

Mike Shetzline

T assay, PDC-EX response serum to and the T endpoints cell by that point your cells those for driven And we around will query to the have we're that antigen. trial, their the samples collecting and unique Well, responses. are

gauge the T unique to to So yes, responses cell PDC-EX. assay a

Tim Chiang

noticed year? Okay. to you where range this ballpark of right? remainder that commercial They that's helpful. the sort JV, the I for will around Sravan, recovered, is No, I the margin very commercial of margins on LINZESS think then, they And as do Mike, were XX%, the sit think the the

Sravan Emany

in commercial we think the Year-to-date we're pleased expect Well, roughly I'd we Tim, year be XXXX, in of margin and commercial last year. margins for the full with through question. with also look, with super to line margin the thanks, commercial I third line where in year-to-date. were quarter, say, sort

we and to an we that earlier mix the this focus in So continue it's year, we marketing like -- quarter. talked Tom know, talked last and talked margin, as XX% we in had you can refine about why quarter about year back the sorry, profits, about the second this it to fluctuate fluctuated reasons second quarter the had commercial brand to when as earlier and optimize effort

Tom McCourt

that even see targeting. believe the dramatic there's pediatricians don't with this existing don't evaluating But investment million we is is But another too, physicians, because see trade pediatric Tim, to lot though brand, that, though we're adding change we'll we in higher a it. of docs. market potential it's could opportunity. off high targeted piece the in some overlap they that probably -- that identify other we even will a be the sizable think potential of we'll a We're the I overall be million -- patients X X still

promotion this be physicians very a promotional again, piloting. how it to So regard as with out really we're as will as investment of gate, of innovative professional is with growth. kids parents both series responsive well pilots But there, level channels of well will as us guide see a help to also regard think there's very, both, to I ongoing what data where right pediatric is of that is the the to it the running out drive targeting

Operator

conference. today's concludes This questions. further no are there time, this At

may disconnect. You now

Ironwood Pharmaceuticals (IRWD) 3 Nov 222022 Q3 Earnings call transcript