Business
Ionis reports third quarter 2023 financial results
Olezarsen Phase 3 data showed significant triglyceride lowering, substantial reductions in acute pancreatitis attacks and favorable safety and tolerability in
About this update from Ionis Pharmaceuticals, Inc.
[{"type":"text","content":"Olezarsen Phase 3 data showed significant triglyceride lowering, substantial reductions in acute pancreatitis attacks and favorable safety and tolerability in patients with FCS; on track for regulatory filings in early 2024 \nEplontersen marketing applications accepted for review in the EU and Canada; potential U.S. approval in December 2023\nOn track to achieve 2023 financial guidance\nCARLSBAD, Calif., Nov. 2, 2023 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) (the \"Company\"), today reported financial results for the third quarter of 2023.\n\n \n \n \n \n \n \n\n \n\"We continue to successfully execute on our strategy to deliver a steady cadence of potentially transformational medicines to patients,\" said Brett P. Monia, Ph.D., chief executive officer of Ionis. \"Eplontersen is on track for its first potential approval in the U.S. and is under regulatory review in the EU and Canada. We believe the positive efficacy and safety data coupled with an attractive self-administration dosing profile positions eplontersen to be the preferred therapy in the largely underserved hereditary ATTR polyneuropathy population. We reported positive data from the olezarsen Phase 3 Balance study in patients with familial chylomicronemia syndrome, showing statistically significant triglyceride lowering, substantial reductions in acute pancreatitis attacks and favorable safety and tolerability, positioning olezarsen to be our first independent commercial launch. We also made additional progress across our wholly owned and partnered pipeline, and further expanded our rich Phase 3 pipeline with the advance of zilganersen for patients with Alexander disease into Phase 3 development. Looking ahead, we expect to continue our positive momentum with the potential approval and launch of eplontersen and the Phase 3 data readout of donidalorsen in hereditary angioedema.\"\nThird Quarter 2023 Summary Financial Results:\nThree months ended\nSeptember 30,\nNine months ended\nSeptember 30,\n2023\n2022\n2023\n2022\n(amounts in millions)\nTotal revenue\n$144\n$160\n$463\n$435\nOperating expenses\n$287\n$219\n$811\n$637\nOperating expenses on a non-GAAP basis\n$261\n$195\n$732\n$562\nLoss from operations\n($143)\n($59)\n($348)\n($202)\nLoss from operations on a non-GAAP basis\n($117)\n($35)\n($269)\n($127)\nFinancial Highlights\nRevenue continued to ...