Benzinga | Nov 4, 2020 07:24AM EST

Recap: Ionis Pharmaceuticals Q3 Earnings



Shares of Ionis Pharmaceuticals (NASDAQ:IONS) moved higher by 1.6% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share were down 222.22% year over year to ($0.22), which missed the estimate of ($0.09).

Revenue of $160,000,000 declined by 4.76% year over year, which missed the estimate of $182,140,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Ionis Pharmaceuticals hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Nov 04, 2020

Time: 11:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/952/38029

Recent Stock Performance

Company's 52-week high was at $66.22

Company's 52-week low was at $39.32

Price action over last quarter: down 15.48%

Company Profile

Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Ionis' broad clinical and preclinical pipeline treats a wide variety of diseases, with an emphasis on cardiovascular, metabolic, severe, and rare diseases. Ionis sold rights to its first product, Kynamro, to Kastle Therapeutics after lackluster commercial success, but with partner Biogen brought its second drug, Spinraza for spinal muscular atrophy, to market. ATTR amyloidosis drug Tegsedi (inotersen) was approved in 2018 and cardiology drug Waylivra was approved in Europe in 2019.