Ionis Q1 2020 Earnings Report
Key Takeaways
Ionis Pharmaceuticals reported its Q1 2020 financial results, demonstrating strong performance in commercial medicines, particularly SPINRAZA, and advancements in its late-stage pipeline. The company reaffirmed its 2020 financial guidance, expecting to end the year meaningfully profitable, supported by commercial and R&D revenue. With a strong cash position of $2.4 billion, Ionis is well-capitalized to execute its strategic priorities.
Commercial revenue growth driven by SPINRAZA royalties, which increased by more than 10% compared to Q1 2019.
Product sales from TEGSEDI and WAYLIVRA more than doubled compared to Q1 2019.
R&D revenue included over $25 million from Ionis’ neurology disease franchise and $15 million from its cardiometabolic franchise.
The company reaffirmed its 2020 financial guidance, including ending 2020 meaningfully profitable.
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Ionis Revenue by Segment
Forward Guidance
Ionis reaffirmed its 2020 financial guidance, including ending 2020 meaningfully profitable. The company expects results to be driven by continued commercial and R&D revenue.
Positive Outlook
- Initiate the Phase 3 study of AKCEA-APOCIII-LRx in patients with FCS
- Refile WAYLIVRA new drug application for U.S. marketing authorization
- File for WAYLIVRA marketing approval in Brazil with PTC Therapeutics
- Report clinical proof-of-concept results for four or more programs
- Advance five or more new medicines into development, including several Ionis-owned medicines
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties, including those related to the impact COVID-19 could have on our business
- Risks related to commercial products and medicines in the pipeline
- Risks inherent in the process of discovering, developing and commercializing medicines that are safe and effective for use as human therapeutics
- Ionis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially
- You are cautioned not to rely on these forward-looking statements
Revenue & Expenses
Visualization of income flow from segment revenue to net income