Ionis Pharmaceuticals CEO sells $1.23 million in stock

CARLSBAD, CA—Brett P. Monia, the Chief Executive Officer of Ionis Pharmaceuticals Inc. (NASDAQ:IONS), sold 38,843 shares of the company’s common stock on February 4, according to a recent SEC filing. The sale comes as the stock trades near its 52-week low of $31.03, with shares down about 34% over the past year. The shares were sold at a weighted average price of $31.6521, generating approximately $1.23 million. This transaction was conducted under a Rule 10b5-1 trading plan that Monia adopted on August 13, 2024. Following this sale, Monia holds 180,683 shares of Ionis Pharmaceuticals. According to InvestingPro data, analyst price targets for the $5.16 billion market cap company range from $37 to $78, with the company scheduled to report earnings on February 19.

The sale was executed in multiple transactions, with share prices ranging from $31.555 to $31.755. Ionis Pharmaceuticals, based in Carlsbad, California, is a prominent player in the pharmaceutical industry, known for its innovative work in life sciences. InvestingPro analysis reveals 8 additional key insights about the company’s financial health and market position, available to subscribers.

In other recent news, Ionis Pharmaceuticals has seen a series of developments that have caught the attention of investors. The company’s spinal muscular atrophy (SMA) drug, nusinersen, has been accepted by regulatory agencies in the United States and Europe for a higher dose regimen. This potential advancement in SMA care has been positively received by the market.

In addition, Ionis maintained its Overweight rating by Piper Sandler following the FDA’s approval of olezarsen (TRYNGOLZA) for adults with familial chylomicronemia syndrome (FCS). The firm’s analysis projects $37 million in U.S. FCS revenue for the fiscal year 2025.

Ionis also maintained its Buy rating from Needham, following the FDA’s approval of TRYNGOLZA. The approval reflects results from the BALANCE Phase 3 study, which demonstrated that the drug reduced triglycerides by 30.0% at the six-month mark.

Furthermore, Ionis announced the FDA approval of TRYNGOLZA, marking a significant milestone as it becomes the first approved treatment for FCS in the U.S. The approval is based on data from the Phase 3 Balance clinical trial, which demonstrated a significant reduction in triglyceride levels and a decrease in acute pancreatitis events.

Finally, Ionis reported its third-quarter financial results for 2024, with a focus on non-GAAP financials, which the company believes better represent their business economics. These recent developments highlight Ionis Pharmaceuticals’ progress in drug development and financial performance.

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