Benzingaยท2025-07-30 18:34Core Insights - Ionis Pharmaceuticals reported strong second-quarter results with adjusted earnings of 85 cents, a significant improvement from an adjusted loss of $35 million a year ago, and beating analysts' expectations of a 52-cent loss [1] - Revenue for the first quarter of 2025 increased by 10% to $132 million, surpassing the consensus estimate of $125.32 million, driven by higher commercial revenue [1] Revenue Performance - Ionis' revenues more than doubled to $452 million, exceeding the consensus of $282.95 million, primarily due to the successful launch of Tryngolza and increased royalty and R&D revenues [2] - Tryngolza generated net product sales of $19 million in the second quarter of 2025 and $26 million in the first half of 2025 [2] Product Developments - Tryngolza received a positive opinion from the Committee for Medicinal Products for Human Use, with a European Commission decision expected by Q4 2025 [3] - Wainua generated sales of $44 million in the second quarter of 2025, resulting in royalty revenue of $10 million [3] - Spinraza generated global sales of $393 million, leading to royalty revenue of $54 million [4] Financial Guidance - Ionis raised its fiscal 2025 sales guidance from $725 million-$750 million to $825 million-$850 million, compared to the consensus estimate of $754.67 million [6] - The company expects a 2025 adjusted operating loss of $300 million-$325 million, an improvement from previous guidance of less than $375 million [7] Market Reaction - Following the announcement, Ionis stock rose by 5.23% to $43.65 [7]