Ionis Reports Second Quarter 2019 Financial Results

About this update from Ionis Pharmaceuticals, Inc.

[{"type":"text","content":"CARLSBAD, Calif., Aug. 7, 2019 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today reported its financial results for the second quarter and year-to-date 2019 and recent business highlights.\n\n \n\"We enter the second half of 2019 in a position of substantial financial strength driven by revenue growth of more than 75 percent. SPINRAZA's blockbuster performance, with over $1 billion in net sales in the first half, contributed significantly to our strong financial results. There are approximately 8,400 patients on SPINRAZA, an increase of approximately 12 percent compared to last quarter. Product sales from TEGSEDI's second full quarter on the market also contributed to our strong first half results. Additionally, WAYLIVRA is on track to launch in Europe this quarter. With three medicines commercialized in the last three years, an advancing technology and a pipeline of over 40 medicines, we are positioned to continue delivering value to patients and shareholders through this year and beyond,\" said Stanley T. Crooke, M.D., Ph.D., chairman of the board and chief executive officer of Ionis. \n\"Our strong year-to-date financial results were driven by continued revenue growth across both commercial and R&D revenues. These results put us on track to meet or potentially improve upon our 2019 guidance. We are also on track to achieve our fourth consecutive year of operating income and our third consecutive year of net income, both on a non-GAAP basis. We believe our ability to be profitable while investing in commercial activities, fully exploiting our pipeline and advancing our technology, clearly sets us apart from our peers,\" said Elizabeth L. Hougen, chief financial officer of Ionis.\nYear-to-Date 2019 Financial Results and Highlights \nYear-to-date revenues increased more than 75 percent Commercial revenue from SPINRAZA® (nusinersen) royalties increased more than 30 percent to $130 million for the first half of 2019 compared to 2018. TEGSEDI® (inotersen) product sales were $17 million in the first half of 2019, reflecting a more than 40 percent increase in the second quarter compared to the first quarter. R&D revenue nearly doubled in the first half of 2019 compared to 2018.Significant net income for the first half of 2019 puts Ionis on track for its third consecutive year of net income Operating income and ...

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