Ionis Pharmaceuticals (IONS) Misses Q1 EPS by 11c, Revenues Miss

May 5, 2021 7:17 AM

Ionis Pharmaceuticals (NASDAQ: IONS) reported Q1 EPS of ($0.64), $0.11 worse than the analyst estimate of ($0.53). Revenue for the quarter came in at $112 million versus the consensus estimate of $128.7 million.

"In the first quarter, we took important steps to maximize the value of our wholly owned pipeline. We recently initiated pivotal studies with our wholly owned FUS-ALS and Alexander disease programs. We delivered positive results from our IONIS-PKK-LRx program, demonstrating its potential to change the standard of care for patients with hereditary angioedema. We also further strengthened the business and continued executing on our strategic priorities," said Brett P. Monia, Ph.D., chief executive officer of Ionis. "This summer, we expect data from our IONIS-MAPTRx program in Alzheimer's disease patients. And later this year, we look forward to data from the Phase 3 VALOR study of tofersen in patients with SOD1-ALS. If results from the VALOR study are positive, we expect tofersen to be our next commercial medicine. These key upcoming catalysts, together with our recent achievements, position us well to have 12 or more products on the market in 2026."

For earnings history and earnings-related data on Ionis Pharmaceuticals (IONS) click here.

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