Ironwood Pharmaceuticals, Inc.

Thank you for standing by and welcome to the Ironwood Pharmaceuticals fourth quarter and full year 2020 investor update conference call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star 1 on your telephone keypad. If you require any further assistance, please press star 0. I would now like to hand the conference over to your speaker today, Meredith Faya. Thank you. Please go ahead.

Good morning and thanks for joining us for our fourth quarter and full year 2020 investor update. Our press release crossed the wire this morning and can be found on our website. Today's call and accompanying slides include forward-looking statements. Such statements involve risks and uncertainties that may cause actual results to differ materially. A discussion of these statements and risk factors is available on the current Safe Harbor Statement slide as well as under the heading Risk Factors in our quarterly report on Form 10-Q, for the quarter ended September 30, 2020 and in our future SEC filing. All forward-looking statements speak as of the date of this presentation, and we undertake no obligation to update such statements. Also included are non-GAAP financial measures, which should be considered only as a supplement to and on a substitute for superior to GAAP measures. To the extent applicable, please refer to the tables at the end of our press release for reconciliations of these measures to the most directly comparable GAAP measures. During today's call, Mark Mallon, our CEO, will begin with an overview, followed by Tom McCourt, our president and incoming interim CEO, who will review our strategic priorities in commercial performance of LensF. Then Gina Konselman, our CFO, will review our 2020 financial results and provide guidance for 2021. And finally, Mike Shetzline, our chief medical officer, will provide an overview of our current focus on GI innovation. We will close with a Q&A session. We'll be referring to slides via the webcast. For those of you dialing in, please go to the event section of our website to access the webcast slides. With that, I'll turn the call over to Mark.

Thanks, Meredith. Good morning, everyone, and thanks for joining us today. Let me begin by saying how proud I am of the entire Ironwood team who truly showed their passion and commitment throughout 2020 to advance treatment for GI diseases and redefine the standard of care for GI patients. Their passion and mission-driven approach is one of the things that has most inspired me during my time with Ironwood. As I shared last week, deciding to leave Ironwood was indeed easy, but the chance to pursue certain passions of mine is really the right decision for me personally and for my family. I'm confident Ironwood will be in great hands with Tom as interim CEO while the board conducts its search. Tom has been an incredible colleague of mine for many years and a key member of the leadership team since joining Ironwood in 2009. In addition to his many accomplishments over the years, he led the successful launch and commercialization of Linfez. Despite the challenges of the COVID-19 pandemic over the last year, Ironwood's business fundamentals and financials are strong. We believe the resilience and strength of Linzess combined with the continued profit and cash generation in 2020 provides a solid foundation for the future. I'm confident Ironwood is well positioned to deliver value for patients and shareholders. Turning to our 2020 performance, we began 2020 focused on our three core priorities to drive Linzess growth, advance our GI portfolio, and deliver sustainable profits. Munthez continues to be the prescription market leader within its category, demonstrating exceptional growth in the brand's eighth year since launch. Additionally, Ironwood has now delivered its second consecutive year of profits and ended 2020 with over $360 million in cash, more than doubling our cash position from the end of 2019. Turning to our pipeline, the results from the 3718 and 7246 clinical programs were disappointing. These are two distinct programs that were being developed to treat high unmet medical needs and represented an opportunity to potentially help millions of patients. While these types of outcomes are not uncommon in drug development, they are certainly never easy, especially when they affect our own teammates, as these did with the recent workforce reduction. We were pleased to receive the approval of lenacletide S and D-A for overall abdominal symptoms data in adults with IBSC, as well as the progress of our ongoing pediatric studies. With several GI diseases in desperate need of new therapies, continued scientific progress within this category, and our unique expertise and capabilities, the team is focused on finding and advancing innovative treatments for GI diseases. I'm proud of the strong foundation we've built together. All of you at Ironwood are true champions in the GI community, and I'm privileged to have worked alongside you. I look forward to following Ironwood as it seeks to drive continued success. With that, I'll turn it over to Tom. Tom?