Thu, Aug 1, 9:05 PM (88 days ago)
Ionis Pharmaceuticals, Inc. reported a net loss of $66.3 million for Q2 2024, an improvement from the $85.3 million loss in Q2 2023. Revenue for Q2 2024 increased to $225.3 million, up from $188.4 million in Q2 2023, driven by new royalty revenue from WAINUA and increased R&D revenue. Operating expenses for Q2 2024 rose to $291.3 million from $278.6 million in Q2 2023, primarily due to increased SG&A expenses related to the launch of WAINUA and preparations for other product launches. Investment income also grew, reflecting higher interest rates. Ionis highlighted significant partnerships, including those with Biogen and AstraZeneca, which are crucial for the development and commercialization of key products like SPINRAZA, QALSODY, and WAINUA. Future financial performance will hinge on successful commercialization efforts and the ability to secure additional revenue streams.