Ionis Pharmaceuticals reports Q3 EPS ($1.03), consensus ($1.07)

Reports Q3 revenue $144M, consensus $132.9M. “We continue to successfully execute on our strategy to deliver a steady cadence of potentially transformational medicines to patients,” said CEO Brett Monia. “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…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.” “Our year-to-date financial results keep us on track to achieve our 2023 guidance as we execute on a strategy to unlock next-level value,” said CFO Elizabeth Hougen. “Our strong financial foundation includes more than $2B in cash, significant royalty revenue with SPINRAZA, and substantial and sustained R&D revenue from multiple partners. We are well positioned to continue investing in our key priorities to drive future positive cash flow, including advancing our go-to-market activities, growing our wholly owned pipeline and optimizing new cutting-edge technologies for future medicines. We look forward to the potential U.S. eplontersen ATTRv-PN approval next month followed closely by launch. Together with our partner, AstraZeneca, we believe we are well positioned to identify new patients to further grow the market and become the treatment of choice for this population that remains largely underserved by current therapies.”