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Sep 30, 2021
Ionis Q3 2021 Earnings Report
Ionis reported third quarter 2021 financial results, highlighting strategic advancements and pipeline development.
Key Takeaways
Ionis Pharmaceuticals reported $133 million in total revenues for Q3 2021. The company is well-capitalized with $2 billion in cash and investments. The company is advancing its Phase 3 pipeline and commercial readiness initiatives.
Olezarsen Phase 3 CORE study in patients with sHTG was initiated.
Donidalorsen Phase 2 data is set to be presented at the ACAAI Annual Meeting, with Phase 3 initiation on track for year-end.
Tofersen Phase 3 VALOR study missed the primary endpoint, but signs of reduced disease progression were observed.
Ionis remains on track to achieve its 2021 financial guidance, driven by increased R&D revenue in the fourth quarter.
Ionis
Ionis
Ionis Revenue by Segment
Revenue by Segment
SPINRAZA royalties Revenue
CapyFin.comTEGSEDI and WAYLIVRA Revenue
CapyFin.com Forward Guidance
Ionis projects increased R&D revenue and expenses in the fourth quarter of 2021 and remains on track to achieve its 2021 financial guidance.
Positive Outlook
- Increased R&D revenue is expected in Q4 2021.
- Advancement of partnered programs is expected.
- Company is well-capitalized with $2 billion in cash.
- Commercial readiness initiatives are advancing.
- Multiple product launches are anticipated, potentially starting in 2023.
Challenges Ahead
- Increased expenses are projected in Q4 2021.
- Tofersen Phase 3 VALOR study missed primary endpoint.
- The Biogen Phase 3 VALOR study of tofersen in patients with SOD1-ALS did not meet the primary endpoint of change from baseline to week 28 in the ALS Functional Rating Scale-Revised (ALSFRS-R)
- Net loss attributable to Ionis’ common stockholders for the three and nine months ended September 30, 2021 increased compared with the same periods in the prior year
- SPINRAZA royalties decreased from $74 million to $67 million compared to Q3 2020
Revenue & Expenses
Visualization of income flow from segment revenue to net income