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Ironwood Sets 2026 Targets After LINZESS Price Cut as Shares Surge

Management cites rebate mechanics tied to a lower list price as the driver of higher net sales.

Overview

  • The company guided to 2026 LINZESS U.S. net sales of $1.125 billion to $1.175 billion, total revenue of $450 million to $475 million, and adjusted EBITDA above $300 million.
  • Ironwood reaffirmed 2025 guidance, including LINZESS U.S. sales of $860 million to $890 million, total revenue of $290 million to $310 million, and adjusted EBITDA above $135 million.
  • Cash and equivalents topped $200 million at the end of the fourth quarter of 2025.
  • Effective January 1, the LINZESS list price was reduced, which the company says eliminates the inflationary component of statutory rebates across channels including Medicaid and is expected to lift 2026 net sales.
  • Shares jumped as much as 57.7% on Friday with session volume near 38.35 million versus a 2.36 million average, according to Benzinga Pro.