Ionis Pharmaceuticals Inc. (NASDAQ:IONS) reported second-quarter adjusted earnings of 85 cents on Wednesday. The company reported an adjusted loss of $35 million a year ago.
The analysts expected a consensus of a 52-cent loss.
Revenue increased 10% in the first quarter of 2025 to $132 million, beating the consensus of $125.32 million, driven by higher commercial revenue.
Ionis’ revenues more than doubled to $452 million compared to the consensus of $282.95 million, driven by the continued successful launch of Tryngolza and increased royalty and R&D revenues.
Tryngolza (olezarsen), the first-ever treatment for familial chylomicronemia syndrome as an adjunct to diet, generated net product sales of $19 million in the second quarter of 2025, its second full quarter on the market, and $26 million in the first half of 2025.
The drug received a positive opinion from the Committee for Medicinal Products for Human Use, paving the way to Europe. European Commission decision expected by the fourth quarter of 2025.
Wainua (eplontersen) (Wainzua in the EU) for polyneuropathy of hereditary transthyretin-mediated amyloidosis generated sales of $44 million, resulting in royalty revenue of $10 million in the second quarter of 2025.
Spinraza (nusinersen), a drug for spinal muscular atrophy, generated global sales of $393 million, resulting in royalty revenue of $54 million.
Higher dose nusinersen is under review for marketing approval in the U.S. (PDUFA date of Sept. 22, 2025) and the EU.
Guidance: "For the second time this year, we are significantly raising our 2025 financial guidance — this time driven by an improved outlook for the year and strong revenue performance to date, which includes the early launch excellence with Tryngolza,” said Ionis CEO Elizabeth Hougen.
“In addition to strong commercial performance, our second quarter results included the substantial revenue we earned from licensing sapablursen, a medicine outside our core areas of focus,” Hougen added.
Ionis raised fiscal 2025 sales guidance from $725 million-$750 million to $825 million-$850 million, compared to the consensus estimate of $754.67 million, with Tryngolza sales of $75 million-$80 million.
The company expects a 2025 adjusted operating loss of $300 million-$325 million compared to the previous guidance of less than $375 million, with cash, cash equivalents and short-term investments of around $2 billion (vs. approximately $1.9 billion expected earlier).
IONS Price Action: Ionis stock is up 5.23% at $43.65 at publication on Wednesday.
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