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CARLSBAD, Calif. - Ionis Pharmaceuticals (NASDAQ:IONS) reported first quarter results that missed revenue expectations but beat on earnings, while raising its full-year 2025 guidance on Wednesday.
The company’s stock fell -1.95% in premarket trading following the release.
Ionis posted Q1 revenue of $132 million, falling short of analyst estimates of $136.69 million. However, the company reported a smaller-than-expected loss per share of $0.93, beating the consensus estimate of a $1.08 loss.
Revenue increased 10% year-over-year, driven by the launch of TRYNGOLZA for familial chylomicronemia syndrome and higher royalties from SPINRAZA and WAINUA. TRYNGOLZA generated over $6 million in net product sales in its first full quarter on the market.
Despite the Q1 revenue miss, Ionis raised its full-year 2025 revenue guidance to $725-750 million, up from its previous outlook of over $600 million and above analyst expectations of $653.5 million. The company cited recent successful licensing transactions for the improved outlook.
"Our first quarter results reflected encouraging early performance in the TRYNGOLZA launch, adding product revenue to our P&L for the first time," said Elizabeth L. Hougen, Chief Financial Officer of Ionis.
The company expects three additional independent product launches over the next two years, positioning it to deliver substantial and growing product revenue. Ionis aims to achieve sustained positive cash flow through increasing product and royalty revenues coupled with disciplined investment.
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