Benzinga | Aug 5, 2020 07:47AM EDT

Ionis Pharmaceuticals: Q2 Earnings Insights

Shares of Ionis Pharmaceuticals (NASDAQ:IONS) remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share fell 2200.00% year over year to ($0.23), which beat the estimate of ($0.27).

Revenue of $146,000,000 declined by 10.98% year over year, which missed the estimate of $148,870,000.

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.

Conference Call Details

Date: Aug 05, 2020

Time: 11:30 AM

ET Webcast URL: https://www.webcaster4.com/Webcast/Page/952/35523

Technicals

Company's 52-week high was at $73.09

Company's 52-week low was at $39.32

Price action over last quarter: Up 11.23%

Company Overview

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.