Carlsbad, CA-based Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) is a drug discovery and development company that focuses on the development of products using ribonucleic acid (RNA)-based technologies. The company discovers new drugs and out-licenses them to partners for license fees, milestone payments, and royalties. Ionis has partnership agreements with several leading health care companies like Biogen (NASDAQ:BIIB) and GlaxoSmithKline among others.
Ionis’ earnings track record has been mixed so far. Over the four trailing quarters, the company posted an average positive earnings surprise of 26.25%, missing estimates in two quarters and beating the same once.
Currently, Ionis has a Zacks Rank #3 (Hold) but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Ionis reported a loss of 1 cents including stock based compensation which beat the Zacks Consensus Estimate of loss of 11 cents.
Revenues: Ionis posted revenues of $144.4 million, missing the consensus estimate of $159.81 million. However, it was up 24.7% year over year.
Key Stats: Research, development and patent expenses amounted to $104.1 million, up 25.9% year over year. General and administrative expenses increased almost 219% year over year to $43.7 million on increased costs related to commercialization of Waylivra and Tegsedi, and increase in fees related to in-licensing of Spinraza. Spinraza saw strong uptake with first quarter sales of $364 million.
Share Market Activity: Share price are up 3.3% in pre-market trading.
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Ionis Pharmaceuticals, Inc. (IONS): Free Stock Analysis Report
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