Business
Ionis reports fourth quarter and full year 2020 financial results and recent business achievements
Achieved 2020 financial guidance 2021 guidance reflects increased investments in wholly owned pipeline to drive future revenue growth Webcast today, February
About this update from Ionis Pharmaceuticals, Inc.
[{"type":"text","content":"Achieved 2020 financial guidance\n 2021 guidance reflects increased investments in wholly owned pipeline to drive future revenue growth\n Webcast today, February 24, 2021, at 9:00 a.m. Eastern Time\n\n\n CARLSBAD, Calif., Feb. 24, 2021 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today reported its financial results for the fourth quarter of 2020 and recent business highlights.\n\n \n \n \n \n \n \n\n \n\"Last year, we laid out a bold new vision for the Company and took important steps towards our goal of becoming one of the most successful biotechnology companies. Key to our vision is our strategy to maximize the value of our pipeline by commercializing our wholly owned medicines. Our acquisition of Akcea was an important step in building our commercial capabilities while enabling us to further strengthen our organization,\" said Brett P. Monia, Ph.D., chief executive officer at Ionis. \"Last year, we also advanced our late-stage pipeline and expanded the utility of our technology. Looking ahead, we expect data from multiple wholly owned programs in the first half of this year, followed by Phase 3 tofersen data in patients with SOD1-ALS in the second half. These key upcoming catalysts, together with our recent pipeline and technology achievements, position us well to have 12 or more products on the market in 2026. Importantly, we continue to have the financial strength to expand investment in our wholly owned pipeline and commercial capabilities to drive meaningful and increasing value for patients and shareholders.\"\n2020 Summary Financial Results \nAchieved 2020 financial guidance $729 million in total revenues, with half from marketed products $640 million of operating expenses on a non-GAAP basis(1) and $901 million on a GAAP basis, reflecting investments in Ionis' wholly owned pipeline Net income of $111 million on a non-GAAP basis(1) and a net loss of $451 million on a GAAP basisStrong balance sheet with cash of $1.9 billion at year-end, enabling increasing investment in advancing the pipeline and technology while also preparing to commercialize the Company's wholly owned medicines 2020 Marketed Products Highlights \nSPINRAZA: a global foundation-of-care for the treatment of spinal muscular atrophy (SMA) patients of all ages $2 billion in worldwide sales in 2020 More than 11,000 patients worldwide were on t...