Ionis Q3 2022 Earnings Report
Key Takeaways
Ionis Pharmaceuticals reported a 20% increase in revenue for Q3 2022 compared to the same period last year, driven by significant partner payments across multiple programs. The company reaffirmed its 2022 financial guidance and increased its cash and investments guidance to approximately $2.0 billion. There was also progress in the late-stage pipeline, including positive data from the Phase 3 NEURO-TTRansform study of eplontersen.
Revenue increased by 20% compared to Q3 2021, driven by partner payments.
Non-GAAP operating expenses increased by 5% due to advancing Phase 3 pipeline.
Entered into a long-term lease for a new manufacturing facility.
Reaffirmed 2022 financial guidance and increased cash and investments guidance to $2.0 billion.
Ionis
Ionis
Ionis Revenue by Segment
Forward Guidance
The Company reaffirmed its full year 2022 guidance for total revenue, operating expenses and net loss, on a non-GAAP basis. The Company increased its full year 2022 cash and investments guidance to approximately $2.0 billion from the previous guidance of $1.7 billion.
Positive Outlook
- Revenue >$575 million
- Operating expenses on a non-GAAP basis $825-$850 million
- Net loss on a non-GAAP basis <$275 million
- Cash, cash equivalents and short-term investments ~$2.0 billion
Revenue & Expenses
Visualization of income flow from segment revenue to net income