Business
Ionis provides fourth quarter and full year 2019 financial results
2019 revenues nearly doubled to more than $1.1 billion Exceeded improved 2019 guidance 2020 guidance reflects investment in strategic priorities Webcast
About this update from Ionis Pharmaceuticals, Inc.
[{"type":"text","content":"2019 revenues nearly doubled to more than $1.1 billion\n Exceeded improved 2019 guidance\n 2020 guidance reflects investment in strategic priorities\n Webcast today, February 26, 2020, at 11:30 a.m. Eastern Time\n\n\nCARLSBAD, Calif., Feb. 26, 2020 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today reported its financial results for the fourth quarter and full year 2019 and recent business highlights.\n\n \n \n\n \n\"2019 was an exceptional year. We achieved our goals across the business, including advancing four medicines into pivotal studies and growing our Ionis-owned pipeline. We also made significant progress across our broad pipeline, including in our neurological and cardiometabolic disease franchises, and further advanced our antisense technology through investments in new, complementary technologies. Together these achievements position us to deliver on our goal of ten or more new drug applications through 2025,\" said Brett P. Monia, chief executive officer at Ionis. \"This year, our priorities include further growing and advancing our Ionis-owned pipeline, initiating additional Phase 3 studies, reporting clinical proof-of-concept results from six or more studies and further developing our commercial strategy to maximize the value of each medicine in our pipeline.\"\n2019 Financial Results and Highlights \nNearly doubled 2019 revenues, driven by SPINRAZA's continued blockbuster performance and increasing R&D revenue Commercial revenue from SPINRAZA® (nusinersen) royalties increased by more than 20 percent to $293 million compared to 2018 Product sales from TEGSEDI® (inotersen) and WAYLIVRA® (volanesorsen) were $42 million R&D revenue more than doubled to $771 million compared to 2018Invested in commercializing TEGSEDI and WAYLIVRA and advanced the pipeline while remaining profitable Operating income and net income significantly improved to $366 million and $294 million, respectively, compared to 2018, on a GAAP basis Non-GAAP operating income and net income significantly improved to $513 million and $402 million, respectively, compared to 2018Increased cash position to $2.5 billion; further strengthened balance sheet by refinancing a significant portion of the Company's 1 percent convertible debt due in 2021 Extended maturity to 2024, achieved 0.125 percent interest rate, and significantly increased conve...