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# Ironwood Targets $485–$510 Million In Revenue As LINZESS Clears Last Year's Sales
- URL: https://www.bullished.co/ironwood-targets-485-510-million-in-revenue-as-linzess-clears-last-years-sales-9535b7d7/
- Published: 2026-11-06T17:56:42.000Z
- Updated: 2026-11-06T17:56:42.000Z
- Description: The drugmaker lifted its annual outlook for a second consecutive quarter while operating cash flow reached $130.8 million.
- Author: Matteo Parrino
- Tags: SEC Filings, IRWD, Industry: Healthcare

Ironwood Pharmaceuticals, which develops medicines for gastrointestinal and rare diseases, raised its 2026 revenue target to [$485–$510 million](https://markets.ft.com/data/announce/detail?dockey=600-202611050705BIZWIRE%5FUSPRX%5F%5F%5F%5F20261105%5FBW811549-1&ref=bullished.co) Thursday, its second consecutive quarterly increase. Improved pricing and prescription growth supported the outlook, with LINZESS U.S. sales of about $880 million through the first nine months already above the drug's full-year 2025 total, according to the earnings release furnished with its SEC filing.

## LINZESS Drives The Higher Targets

The [new revenue range](https://markets.ft.com/data/announce/detail?dockey=600-202611050705BIZWIRE%5FUSPRX%5F%5F%5F%5F20261105%5FBW811549-1&ref=bullished.co) replaces August's $460–$485 million forecast. Ironwood now expects LINZESS U.S. sales of $1.20–$1.25 billion, rather than $1.15–$1.20 billion, and adjusted earnings before interest, taxes, depreciation and amortization above $350 million, up from above $310 million.

The annual pricing improvement came with a quarterly wrinkle: unfavorable rebate reserves reduced third-quarter net pricing by a few percent compared with a year earlier. Prescription demand rose 4.9%, to 63.4 million capsules, according to IQVIA figures cited in the release. LINZESS U.S. sales increased 3.2% to $324.9 million from $314.9 million.

LINZESS treats constipation conditions in adults and certain pediatric patients. Ironwood splits U.S. profits and losses equally with AbbVie and collects royalties overseas. The drug's commercial margin reached 79.8%, versus 75.9% a year earlier; collaboration revenue for Ironwood increased 8.6% to $129.9 million from $119.6 million.

Ironwood Chief Executive Officer Tom McCourt described the priorities as “[maximize LINZESS](https://www.sec.gov/Archives/edgar/data/0001446847/000110465926123029/tm2629044d1%5Fex99-1.htm?ref=bullished.co), advance apraglutide and deliver sustained profits and cash flows” in the earnings statement. IRWD shares soared about 9% to $4.39 in Friday trading.

## Lower Costs, More Cash

Third-quarter revenue reached $133.0 million, compared with $122.1 million a year earlier. Net income was $59.8 million, or $0.36 per diluted share, against $40.1 million and $0.23\. Adjusted earnings before interest, taxes, depreciation and amortization reached a record $97.9 million, versus $81.8 million.

Costs fell to $39.9 million from $46.6 million even as research spending increased to $28.3 million from $22.5 million. Selling and administrative expenses declined to $11.6 million from $21.9 million; the prior-year quarter also included $2.2 million in restructuring costs.

Operating cash flow reached [$130.8 million](https://www.sec.gov/Archives/edgar/data/0001446847/000110465926123029/tm2629044d1%5Fex99-1.htm?ref=bullished.co), compared with $47.6 million a year earlier. Ironwood repaid $60.0 million on its revolving loan during the quarter, leaving $325.0 million outstanding and $225.0 million available to borrow. Quarter-end cash was $86.4 million, against $215.5 million at the end of 2025.

## Apraglutide's Trial And Leadership Handoff

Ironwood's ongoing confirmatory late-stage trial tests apraglutide, an investigational weekly injection, in adults with short bowel syndrome with intestinal failure who need intravenous nutrition or fluids. The 24-week study compares treatment against a placebo group and measures the change in weekly intravenous support volume.

The company plans to activate more than 100 sites across 22 countries. International trial applications have all been submitted and are either under review or approved. Ironwood plans a regulatory approval application in 2029, subject to the trial's results.

Chief Commercial Officer Tammi Gaskins, appointed in October, is set to become CEO and join the board on January 1, 2027\. McCourt will retire as CEO on that date but remain a director.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — IRONWOOD PHARMACEUTICALS INC (IRWD)](https://www.sec.gov/Archives/edgar/data/0001446847/000110465926123029/tm2629044d1%5F8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit tm2629044d1\_ex99-1.htm — IRONWOOD PHARMACEUTICALS INC 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001446847/000110465926123029/tm2629044d1%5Fex99-1.htm?ref=bullished.co) — SEC EDGAR
- [Ironwood Pharmaceuticals Raises Full-Year 2026 Financial Guidance Driven by Continued LINZESS U.S. Net Sales Growth and Strong Third Quarter Financial Performance – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202611050705BIZWIRE%5FUSPRX%5F%5F%5F%5F20261105%5FBW811549-1&ref=bullished.co) — Financial Times