Ionis Grants Recordati Ex-US Rights for Zilganersen, Expanding Commercial Reach
IONS has more than doubled off its 52-week low of $38.985.
Summary
Ionis Pharmaceuticals has granted Recordati ex-US rights to develop and commercialize zilganersen for Alexander disease, while retaining US commercial rights and global development leadership. This partnership expands the potential market for zilganersen, a drug that showed positive pivotal study results in April. The move follows a series of strategic partnerships and positive regulatory news for Ionis, including recent FDA approval for TRYNGOLZA and a licensing deal with Biogen. Analysts also raised their price targets for Ionis, reflecting positive sentiment.
At the time of this announcement, IONS was trading at $78.60 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.9B. The 52-week trading range was $38.99 to $86.74. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.