Ionis Pharmaceuticals(IONS)2025-04-30 15:15Revenue Performance - Total revenue for Q1 2025 was $132 million, a 10% increase from $119 million in Q1 2024[3] - Full year 2025 revenue guidance increased from over $600 million to $725-750 million, reflecting a more than 20% increase[5] - Total revenue for the three months ended March 31, 2025, was $132 million, a 10.9% increase from $119 million in the same period of 2024[33] - Total commercial revenue increased to $76 million, up 28.8% from $59 million year-over-year[33] - TRYNGOLZA generated over $6 million in net product sales in its first full quarter following U.S. approval[9] - SPINRAZA generated global sales of $424 million, resulting in royalty revenue of $48 million in Q1 2025[9] - WAINUA achieved sales of $39 million, leading to royalty revenue of $9 million in Q1 2025[9] - Ionis' commercial revenue increased by 28% year-over-year, driven by the launch of TRYNGOLZA and higher royalty revenues[14] Operating Performance - Operating loss on a non-GAAP basis is now expected to be less than $375 million, improved from less than $495 million[5] - Total operating expenses rose to $278 million, an increase of 3.4% compared to $269 million in the same quarter of 2024[33] - The net loss for the quarter was $147 million, compared to a net loss of $143 million in the same quarter of 2024[33] - Non-GAAP net loss was $118 million, compared to $112 million in the same period of the previous year[34] Cash and Investments - Cash, cash equivalents, and short-term investments are projected to be approximately $1.9 billion by year-end 2025[5] - Cash, cash equivalents, and short-term investments decreased to $2,145 million from $2,298 million at the end of December 2024[38] - Total stockholders' equity decreased to $476 million from $588 million at the end of December 2024[38] Research and Development - Donidalorsen is on track for a PDUFA date of August 21, 2025, with positive Phase 2 data showing a 96% reduction in HAE attack rates[9] - ION582 for Angelman syndrome is expected to initiate Phase 3 development in Q2 2025[13] - Key Phase 3 clinical events are expected for Olezarsen and Zilganersen in 2025, with data anticipated to be released[39] Regulatory Approvals - The company achieved regulatory approval for TRYNGOLZA in the EU for FCS and anticipates U.S. approval for Donidalorsen for HAE in 2025[39]