Business
Ionis reports first quarter 2020 financial results and recent business achievements
On track to achieve 2020 financial guidance Webcast today, May 6, 2020, at 11:30 a.m. Eastern Time CARLSBAD, Calif., May 6, 2020 /PRNewswire/ -- Ionis
About this update from Ionis Pharmaceuticals, Inc.
[{"type":"text","content":"On track to achieve 2020 financial guidance\n Webcast today, May 6, 2020, at 11:30 a.m. Eastern Time\n\n\nCARLSBAD, Calif., May 6, 2020 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today reported its financial results for the first quarter of 2020 and recent business highlights.\n\n \n \n \n \n \n \n\n \n\"We achieved numerous value-driving catalysts in the first quarter, setting us up to achieve our strategic objectives for the year. Our commercial medicines continued to perform well, led by SPINRAZA. Our late-stage pipeline continues to advance, and we are particularly pleased that the tominersen Phase 3 study is fully enrolled, bringing us closer to potentially delivering this medicine to patients with Huntington's disease. Additionally, AKCEA-APO(a)-LRx was granted fast track designation in the U.S., underscoring the significant value this medicine could deliver to the millions of patients with Lp(a)-driven cardiovascular disease,\" said Brett P. Monia, chief executive officer at Ionis. \"Thanks to the commitment and resilience of our employees, we delivered strong first quarter results while effectively managing the challenges inherent with the global COVID-19 pandemic, keeping us on track to achieve our 2020 goals. We plan to initiate the pivotal study for AKCEA-APOCIII-LRx in patients with FCS, bringing us to six pivotal studies underway this year. We also plan to refile the WAYLIVRA U.S. NDA and report additional proof-of-concept data from several of our programs this year. Our significant financial strength enables us to invest in our highest priorities, including advancing our Ionis-owned pipeline and our technology, and strengthening our commercial capabilities. Together, these achievements keep us positioned to deliver NDAs for ten or more of our medicines through 2025.\"\nFinancial Results and Highlights\n\"We are reaffirming our 2020 financial guidance, including ending 2020 meaningfully profitable. We expect our results to be driven by continued significant commercial revenue and R&D revenue from numerous programs,\" said Elizabeth L. Hougen, chief financial officer of Ionis. \"We remain well-capitalized, with a strong balance sheet and $2.4 billion in cash and investments. Enabled by our financial strength, we have the resources to execute on our near- and longer-term strategic priorities, even in t...