CARLSBAD, CA – Ionis Pharmaceuticals (NASDAQ:IONS), Inc., a leader in RNA-targeted therapies, has filed a preliminary prospectus supplement with the U.S. Securities and Exchange Commission (SEC) for a proposed registered underwritten public offering of its common stock. This announcement was made today, following the company's continuous drive to innovate in RNA therapies and its successful commercialization of five marketed medicines.
Ionis, which trades under the symbol "IONS" on the Nasdaq Stock Market LLC, has a robust portfolio including SPINRAZA, QALSODY, WAINUA, TEGSEDI, and WAYLIVRA, addressing serious diseases such as spinal muscular atrophy and amyotrophic lateral sclerosis. The company has generated significant revenues through these collaborations, with SPINRAZA alone bringing in over $2.2 billion since its inception.
In addition to its marketed medicines, Ionis boasts nine medicines in Phase 3 development and multiple others in early and mid-stage development across various therapeutic areas. The company is also preparing for upcoming U.S. regulatory approvals for several drugs in its pipeline, such as olezarsen for familial chylomicronemia syndrome and donidalorsen for hereditary angioedema.
Ionis has also reported positive mid-stage pipeline developments, including promising data from a Phase 2 study of ION582 in patients with Angelman syndrome. The company plans to initiate Phase 3 development of ION582 in the first half of 2025.
The company's forward-looking statements reflect its anticipation of potential regulatory approvals and the commercial potential of its medicines. However, these statements are subject to various risks and uncertainties inherent in the pharmaceutical industry.
This stock offering is part of Ionis' strategic efforts to invest in its commercial readiness, innovative pipeline, and technology to drive future growth and deliver value to patients and shareholders. The information is based on a press release statement from Ionis Pharmaceuticals.
In other recent news, Ionis Pharmaceuticals has announced plans for a public offering of $500 million in common stock, with the possibility of an additional $75 million for underwriters.
The proceeds from this offering are set to fund commercial launches, clinical programs, research and development, and general corporate needs. The completion of this offering is dependent on market conditions, with Morgan Stanley (NYSE:MS) and Goldman Sachs & Co (NYSE:GS). LLC managing the process.
In addition to the stock offering, Ionis Pharmaceuticals has been making strides in its product pipeline. The company launched two new treatments, WAINUA for hereditary ATTR polyneuropathy and QALSODY for ALS, in the United States and Europe.
The company is also preparing for the launch of Olezarsen for FCS and global expansion, despite discontinuing development programs for ION541 for ALS and IONIS-FB-LRx for geographic atrophy.
Furthermore, Ionis Pharmaceuticals reported steady financial results for the first half of 2024, aligning with its annual guidance. The company anticipates an increase in operating expenses but expects strong revenue growth and positive cash flow. However, Ionis projects total revenue to be slightly lower in the second half of the year due to decreased R&D revenue.
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