Solid Spinraza Sales in Ionis' 3Q; Maintaining FVE After Waylivra and Tegsedi Regulatory Decisions
Ionis Pharmaceuticals finished the third quarter with total revenue of $145 million, up 20% from last year. Spinraza continues to contribute growth for the firm, with the number of adult U.S. Spinraza patients increasing over 20% sequentially. While Ionis ended the quarter with a net loss, we expect positive earnings for the full year. Selling, general, and administrative costs have been tracking slightly higher than our expectations due to preparation for the launches of Waylivra and Tegsedi. A...Ionis Pharmaceuticals is engaged in discovering and developing RNA-targeted therapeutics. The company has two commercial medicines, SPINRAZA and TEGSEDI. SPINRAZA (nusinersen) injection for intrathecal use is a survival motor neuron-2, directed antisense oligonucleotide indicated for the treatment of spinal muscular atrophy in pediatric and adult patients. TEGSEDI (inotersen) injection is a Generation 2+ antisense medicine and an approved subcutaneous RNA-targeting medicine designed to treat people with polyneuropathy caused by hereditary transthyretin amyloidosis.
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