$IRWD
IRONWOOD PHARMACEUTICALS INC

2021 Q4 Form 10-Q Financial Statement

#000155837021014584 Filed on November 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q3
Revenue $117.1M $103.7M $103.5M
YoY Change 0.39% 0.27% -21.12%
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Gross Profit $117.1M $103.7M $103.5M
YoY Change 1.15% 0.24% -20.79%
Gross Profit Margin 100.0% 100.0% 100.03%
Selling, General & Admin $28.69M $27.74M $34.93M
YoY Change -19.87% -20.57% -14.64%
% of Gross Profit 24.49% 26.74% 33.75%
Research & Development $31.85M $10.91M $21.69M
YoY Change 95.4% -49.72% -21.27%
% of Gross Profit 27.19% 10.51% 20.96%
Depreciation & Amortization $359.0K $358.0K $1.800M
YoY Change -28.2% -80.11% -43.75%
% of Gross Profit 0.31% 0.35% 1.74%
Operating Expenses $60.54M $38.65M $56.62M
YoY Change 16.42% -31.74% -17.31%
Operating Profit $56.59M $65.17M $45.62M
YoY Change -11.3% 42.87% -30.77%
Interest Expense -$10.34M $7.841M $7.419M
YoY Change 49.81% 5.69% -29.05%
% of Operating Profit -18.27% 12.03% 16.26%
Other Income/Expense, Net -$10.34M -$5.499M -$9.804M
YoY Change 50.16% -43.91% -78.33%
Pretax Income $46.26M $59.67M $35.81M
YoY Change 3.94% 66.63% 73.44%
Income Tax $4.881M $3.800M $1.400M
% Of Pretax Income 10.55% 6.37% 3.91%
Net Earnings $41.37M $55.85M $34.42M
YoY Change -4.24% 62.23% 66.71%
Net Earnings / Revenue 35.32% 53.83% 33.27%
Basic Earnings Per Share $0.25 $0.34 $0.22
Diluted Earnings Per Share $0.25 $0.34 $0.21
COMMON SHARES
Basic Shares Outstanding 163.7M 162.7M 159.8M
Diluted Shares Outstanding 165.2M 160.3M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $620.1M $574.3M $307.6M
YoY Change 71.02% 86.7% 120.98%
Cash & Equivalents $620.1M $574.3M $307.6M
Short-Term Investments
Other Short-Term Assets $11.05M $19.33M $12.50M
YoY Change 1.41% 54.6% -36.22%
Inventory
Prepaid Expenses
Receivables $114.0M $101.8M $113.3M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $745.2M $695.4M $433.3M
YoY Change 50.3% 60.48% 68.19%
LONG-TERM ASSETS
Property, Plant & Equipment $7.575M $7.912M $9.324M
YoY Change -15.16% -15.14% -18.07%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.000M $855.0K $881.0K
YoY Change 6.04% -2.95% 4305.0%
Total Long-Term Assets $381.7M $384.0M $59.01M
YoY Change 502.06% 550.77% -23.07%
TOTAL ASSETS
Total Short-Term Assets $745.2M $695.4M $433.3M
Total Long-Term Assets $381.7M $384.0M $59.01M
Total Assets $1.127B $1.079B $492.3M
YoY Change 101.51% 119.24% 47.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $935.0K $414.0K $1.972M
YoY Change 41.45% -79.01% -56.23%
Accrued Expenses $42.59M $24.96M $28.30M
YoY Change 35.2% -11.81% -37.67%
Deferred Revenue $875.0K
YoY Change -31.53%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $116.9M $120.7M
YoY Change
Total Short-Term Liabilities $161.7M $145.7M $32.90M
YoY Change 402.59% 342.83% -37.68%
LONG-TERM LIABILITIES
Long-Term Debt $337.3M $333.2M $424.5M
YoY Change -21.61% -21.5% 5.41%
Other Long-Term Liabilities $3.501M $1.594M $518.0K
YoY Change 98.58% 207.72% 5.28%
Total Long-Term Liabilities $3.501M $1.594M $518.0K
YoY Change 98.58% 207.72% 5.28%
TOTAL LIABILITIES
Total Short-Term Liabilities $161.7M $145.7M $32.90M
Total Long-Term Liabilities $3.501M $1.594M $518.0K
Total Liabilities $165.2M $147.3M $33.42M
YoY Change 386.8% 340.73% -37.28%
SHAREHOLDERS EQUITY
Retained Earnings -$937.6M -$979.0M -$1.509B
YoY Change -36.05% -35.13% -6.84%
Common Stock $1.544B $1.559B $1.515B
YoY Change 0.97% 2.89% 3.28%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $605.9M $579.9M $5.904M
YoY Change
Total Liabilities & Shareholders Equity $1.127B $1.079B $492.3M
YoY Change 101.51% 119.24% 47.25%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q3
OPERATING ACTIVITIES
Net Income $41.37M $55.85M $34.42M
YoY Change -4.24% 62.23% 66.71%
Depreciation, Depletion And Amortization $359.0K $358.0K $1.800M
YoY Change -28.2% -80.11% -43.75%
Cash From Operating Activities $64.57M $75.07M $53.60M
YoY Change 25.37% 40.05% 54.47%
INVESTING ACTIVITIES
Capital Expenditures -$128.0K -$137.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$128.0K -$137.0K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -18.59M 6.164M 600.0K
YoY Change -631.06% 927.33% -93.1%
NET CHANGE
Cash From Operating Activities 64.57M 75.07M 53.60M
Cash From Investing Activities -128.0K -137.0K 0.000
Cash From Financing Activities -18.59M 6.164M 600.0K
Net Change In Cash 45.85M 81.09M 54.20M
YoY Change -16.63% 49.62% 34.49%
FREE CASH FLOW
Cash From Operating Activities $64.57M $75.07M $53.60M
Capital Expenditures -$128.0K -$137.0K $0.00
Free Cash Flow $64.70M $75.20M $53.60M
YoY Change 25.62% 40.3% 41.8%

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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><b style="font-weight:bold;">1. Nature of Business</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="white-space:pre-wrap;">Ironwood Pharmaceuticals, Inc. (“Ironwood” or the “Company”) is a gastrointestinal (“GI”) healthcare company dedicated to advancing the treatment of GI diseases and redefining the standard of care for GI patients. The Company is focused on the development and commercialization of innovative GI product opportunities in areas of significant unmet need, leveraging its demonstrated expertise and capabilities in GI diseases. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">LINZESS<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup> (linaclotide), the Company’s commercial product, is the first product approved by the United States Food and Drug Administration (the “U.S. FDA”) in a class of GI medicines called guanylate cyclase type C agonists and is indicated for adult men and women suffering from irritable bowel syndrome with constipation (“IBS-C”) or chronic idiopathic constipation (“CIC”).<span style="font-size:12pt;"> </span>LINZESS is available to adult men and women suffering from IBS-C or CIC in the United States (the “U.S.”) and Mexico and to adult men and women suffering from IBS-C in Japan and China. Linaclotide is available under the trademarked name CONSTELLA<sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">®</sup><span style="white-space:pre-wrap;"> to adult men and women suffering from IBS-C or CIC in Canada, and to adult men and women suffering from IBS-C in certain European countries. </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company has strategic partnerships with leading pharmaceutical companies to support the development and commercialization of linaclotide throughout the world. <span style="background-color:#ffffff;color:#212529;">The Company and its partner, AbbVie Inc. (together with its affiliates, “AbbVie”) (successor to Allergan plc), began commercializing LINZESS in the U.S. in December 2012. </span>Under the Company’s collaboration for North America with <span style="background-color:#ffffff;color:#212529;">AbbVie</span>, total net sales of LINZESS in the U.S., as recorded by <span style="background-color:#ffffff;color:#212529;">AbbVie</span>, are reduced by commercial costs incurred by each party, and the resulting amount is shared equally between the Company and <span style="background-color:#ffffff;color:#212529;">AbbVie</span>. Additionally, development costs are shared equally between the Company and AbbVie. <span style="background-color:#ffffff;color:#212529;">AbbVie</span> also has an exclusive license from the Company to develop and commercialize linaclotide in all countries other than China (including Hong Kong and Macau), Japan and the countries and territories of North America (the “<span style="background-color:#ffffff;color:#212529;">AbbVie</span> License Territory”). On a country-by-country and product-by-product basis in the <span style="background-color:#ffffff;color:#212529;">AbbVie</span> License Territory, <span style="background-color:#ffffff;color:#212529;">AbbVie</span> pays the Company a royalty as a percentage of net sales of products containing linaclotide as an active ingredient. In addition, <span style="background-color:#ffffff;color:#212529;">AbbVie</span> has exclusive rights to commercialize linaclotide in Canada as CONSTELLA and in Mexico as LINZESS. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">Astellas Pharma Inc. (“Astellas”), the Company’s partner in Japan, has an exclusive license to develop and commercialize linaclotide in Japan. In March 2017, Astellas began commercializing LINZESS for the treatment of adults with IBS-C in Japan, and in September 2018, Astellas began commercializing LINZESS for the treatment of adults with chronic constipation in Japan. In August 2019, the Company amended and restated its license agreement with Astellas. Effective in 2020, the Company is no longer responsible for the supply of linaclotide active pharmaceutical ingredient (“API”) to Astellas (Note 4). </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">In October 2012, the Company and AstraZeneca AB (together with its affiliates) (“AstraZeneca”) entered into a collaboration agreement to co-develop and co-commercialize linaclotide in China (including Hong Kong and Macau) (the “AstraZeneca License Territory”). In September 2019, the Company amended and restated its existing collaboration agreement with AstraZeneca whereby AstraZeneca obtained the exclusive right to develop, manufacture, and commercialize products containing linaclotide in the AstraZeneca License Territory (Note 4). In November 2019, AstraZeneca began commercializing LINZESS for the treatment of adults with IBS-C in China.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The Company and AbbVie are exploring ways to enhance the clinical profile of LINZESS by studying linaclotide in additional indications, populations and formulations to assess its potential to treat various conditions. In September 2020, based on the Phase IIIb data demonstrating efficacy and safety of LINZESS 290 mcg on the overall abdominal symptoms of bloating, pain and discomfort in adult patients with IBS-C, the U.S. FDA approved the Company’s supplemental New Drug Application to include a more comprehensive description of the effects of LINZESS in its approved label. In June 2020 and July 2020, the United States Patent and Trademark Office granted patents covering the formulation of the 72 mcg dose of LINZESS and methods of using the formulation, respectively. The patents are expected to expire in 2031. In August 2021, the U.S. FDA approved a revised label for LINZESS based on clinical safety data that has been generated thus far in pediatric studies. The updated label modifies the boxed </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;">warning for risk of serious dehydration and contraindication against use in children to those less than two years of age. The boxed warning and contraindication previously applied to all children less than 18 years of age and less than six years of age, respectively. The safety and effectiveness of LINZESS in patients less than 18 years of age have not been established.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">These and other agreements are more fully described in Note 4, <i style="font-style:italic;">Collaboration, License, Promotion and Other Commercial Agreements</i>, to these condensed consolidated financial statements.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">On April 1, 2019, Ironwood completed the separation (the “Separation”) of its soluble guanylate cyclase business, and certain other assets and liabilities, into Cyclerion Therapeutics, Inc. (“Cyclerion”). The Separation was effected by means of a distribution of all of the outstanding shares of common stock, with no par value, of Cyclerion through a dividend of all outstanding shares of Cyclerion’s common stock, to Ironwood’s stockholders of record as of the close of business on March 19, 2019. </p>
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates </span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-size:9pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of condensed consolidated financial statements in accordance with U.S. generally accepted accounting principles requires the Company’s management to make estimates and judgments that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the amounts of revenues and expenses during the reported periods. On an ongoing basis, the Company’s management evaluates its estimates, judgments and methodologies. Significant estimates and assumptions in the condensed consolidated financial statements include those related to revenue recognition; accounts receivable; useful lives of long-lived assets, impairment of long-lived assets, including goodwill; valuation procedures for right-of-use assets and operating lease liabilities; valuation procedures for the issuance and repurchase of convertible notes; balance sheet classification of convertible notes; fair value of derivatives; income taxes, including the valuation allowance for deferred tax assets; research and development expenses; contingencies and share-based compensation. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ materially from these estimates under different assumptions or conditions. Changes in estimates are reflected in reported results in the period in which they become known.</p>
us-gaap Prior Period Reclassification Adjustment Description
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;">Reclassifications</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="font-style:italic;font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="display:inline-block;text-indent:0pt;width:36pt;"/>Certain prior period amounts have been reclassified to conform to current period presentation.</p>
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OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
789000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3129000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
3065000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3126000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3189000
CY2021Q3 irwd Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
14855000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
28153000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6066000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
22087000
CY2021Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3157000
CY2021Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
18930000
CY2015Q2 us-gaap Payments For Hedge Investing Activities
PaymentsForHedgeInvestingActivities
21100000
CY2019Q3 us-gaap Payments For Hedge Investing Activities
PaymentsForHedgeInvestingActivities
25200000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
67348000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
83900000
CY2021Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5307000
CY2020Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
6543000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
448044000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
430256000
CY2021Q3 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
112309000
CY2020Q4 us-gaap Debt Instrument Convertible Carrying Amount Of The Equity Component
DebtInstrumentConvertibleCarryingAmountOfTheEquityComponent
112309000
CY2021Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1804000
CY2020Q3 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
1803000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
5412000
us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
5412000
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
426000
CY2020Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
372000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1237000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1077000
CY2021Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5611000
CY2020Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
5244000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
16550000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
15468000
CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
7841000
CY2020Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
7419000
us-gaap Interest Expense Debt
InterestExpenseDebt
23199000
us-gaap Interest Expense Debt
InterestExpenseDebt
21957000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
3608000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
126557000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4500000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
203750000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3000000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
201500000
CY2021Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
542915000
CY2021Q3 irwd Long Term Debt Maturities Interest Payments
LongTermDebtMaturitiesInterestPayments
22216000
CY2021Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
67348000
CY2021Q3 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
5307000
CY2021Q3 us-gaap Long Term Debt
LongTermDebt
448044000
CY2021Q3 us-gaap Long Term Debt Current
LongTermDebtCurrent
120700000
CY2019Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
18.82
CY2015Q2 us-gaap Payments Of Derivative Issuance Costs
PaymentsOfDerivativeIssuanceCosts
21100000
CY2019Q3 irwd Proceeds From Partial Termination Of Convertible Note Hedges And Warrants
ProceedsFromPartialTerminationOfConvertibleNoteHedgesAndWarrants
3200000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6206000
CY2020Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7712000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16191000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21167000
CY2021Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
150000000.0
CY2021Q2 us-gaap Stock Repurchase Program Expiration Date
StockRepurchaseProgramExpirationDate
2022-12-31
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3800000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-332700000
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1400000
CY2020Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
10907000
irwd Restructuring Reserve Charges
RestructuringReserveCharges
1073000
us-gaap Payments For Restructuring
PaymentsForRestructuring
10178000
us-gaap Restructuring Reserve Accrual Adjustment1
RestructuringReserveAccrualAdjustment1
-854000
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
948000

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