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Ionis Pharmaceuticals' (IONS) Q2 Loss Lower than Expected
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Carlsbad, CA-based Ionis Pharmaceuticals, Inc. (IONS - Free Report) is a drug discovery and development company that focuses on the development of products using ribonucleic acid (RNA)-based technologies. The company discovers new drugs and out-licenses them to partners for license fees, milestone payments, and royalties. Ionis has partnership agreements with several leading health care companies like Biogen and GlaxoSmithKline among others.
Ionis’ only approved product, Kynamro (homozygous familial hypercholesterolemia), is marketed in the U.S. and other major markets. In May 2016, the company entered into an agreement with Kastle Therapeutics, LLC, under which Kastle acquired global rights to develop and commercialize Kynamro.
Meanwhile, the company has a deep pipeline with several candidates in mid or final stages of development. Some promising candidates include IONIS-TTRRx (transthyretin amyloidosis – phase III), nusinersen (spinal muscular atrophy in infants and children – phase III) and volanesorsen (familial chylomicronemia syndrome and familial partial lipodystrophy – phase III) among others.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential apart from the usual top-and bottom-line numbers.
Ionis’ track record has been disappointing so far. Over the four trailing quarters, the company posted an average negative earnings surprise of 8.79%, having beaten estimates in only one quarter and missed the same thrice.
Currently, Ionis has a Zacks Rank #2 (Buy) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Ionis reported a narrower-than-expected loss in the second quarter of 2016. The company reported a loss of 47 cents per share while our consensus called for a loss of 48 cents.
Revenues: Revenues were also above expectations. Ionis posted revenues of $38.5 million, compared to our consensus estimate of $38 million.
Key Stats: Ionis continues to progress with its pipeline and earn milestone payments for the same. The company reported positive data from an interim analysis of a phase III study (ENDEAR) on nusinersen for the treatment of infantile-onset (consistent with type 1) spinal muscular atrophy. Marketing applications are expected to be filed in both the U.S. and the EU in the coming months.
Check back for our full write up on earnings report later!
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Ionis Pharmaceuticals' (IONS) Q2 Loss Lower than Expected
Carlsbad, CA-based Ionis Pharmaceuticals, Inc. (IONS - Free Report) is a drug discovery and development company that focuses on the development of products using ribonucleic acid (RNA)-based technologies. The company discovers new drugs and out-licenses them to partners for license fees, milestone payments, and royalties. Ionis has partnership agreements with several leading health care companies like Biogen and GlaxoSmithKline among others.
Ionis’ only approved product, Kynamro (homozygous familial hypercholesterolemia), is marketed in the U.S. and other major markets. In May 2016, the company entered into an agreement with Kastle Therapeutics, LLC, under which Kastle acquired global rights to develop and commercialize Kynamro.
Meanwhile, the company has a deep pipeline with several candidates in mid or final stages of development. Some promising candidates include IONIS-TTRRx (transthyretin amyloidosis – phase III), nusinersen (spinal muscular atrophy in infants and children – phase III) and volanesorsen (familial chylomicronemia syndrome and familial partial lipodystrophy – phase III) among others.
In this scenario, investor focus remains on late-stage pipeline candidates and their commercial potential apart from the usual top-and bottom-line numbers.
Ionis’ track record has been disappointing so far. Over the four trailing quarters, the company posted an average negative earnings surprise of 8.79%, having beaten estimates in only one quarter and missed the same thrice.
Currently, Ionis has a Zacks Rank #2 (Buy) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Ionis reported a narrower-than-expected loss in the second quarter of 2016. The company reported a loss of 47 cents per share while our consensus called for a loss of 48 cents.
Revenues: Revenues were also above expectations. Ionis posted revenues of $38.5 million, compared to our consensus estimate of $38 million.
Key Stats: Ionis continues to progress with its pipeline and earn milestone payments for the same. The company reported positive data from an interim analysis of a phase III study (ENDEAR) on nusinersen for the treatment of infantile-onset (consistent with type 1) spinal muscular atrophy. Marketing applications are expected to be filed in both the U.S. and the EU in the coming months.
IONIS PHARMACT Price
IONIS PHARMACT Price | IONIS PHARMACT Quote
Check back for our full write up on earnings report later!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>