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Mar 31, 2023
Ionis Q1 2023 Earnings Report
Ionis's Q1 2023 financial results were reported, QALSODY was approved for SOD1-ALS, and positive Phase 3 eplontersen ATTRv-PN data was presented.
Key Takeaways
Ionis Pharmaceuticals reported its Q1 2023 financial results, with revenue of $131 million. The company highlighted the approval of QALSODY for SOD1-ALS and the positive Phase 3 data for eplontersen in ATTRv-PN. They reaffirmed their 2023 financial guidance.
Revenue for the first quarter of 2023 was in line with expectations, including revenue from diverse sources.
Operating expenses increased due to investments in advancing Ionis’ pipeline and go-to-market activities for eplontersen, olezarsen and donidalorsen.
Cash and short-term investments reached $2.3 billion, enabling continued investment in future growth opportunities.
2023 financial guidance was reaffirmed.
Revenue by Segment
Forward Guidance
Ionis reaffirmed its 2023 financial guidance and plans to continue investing in areas with the greatest potential to drive growth, expecting investments to grow modestly as they advance their late-stage pipeline and move commercial opportunities toward the market.
Positive Outlook
- Advancing and expanding late-stage pipeline.
- Moving near-term commercial opportunities toward the market.
- Expecting a greater proportion of commercial revenues compared to R&D revenues.
- Commercial revenues to be the primary driver of future revenue growth.
- Olezarsen Phase 3 FCS study results expected in the second half of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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