Ionis licenses Alexander disease drug Zilganersen to Recordati for ex-U.S. markets; FDA decision due Sept 22
IONS has more than doubled off its 52-week low of $37.32.
Summary
Ionis Pharmaceuticals announced a licensing agreement with Recordati for its Alexander disease drug, zilganersen, covering all countries outside the U.S. Ionis will retain U.S. commercial rights and lead global development, planning an independent U.S. launch. This builds on the positive pivotal study results for zilganersen reported in April. The FDA PDUFA date for zilganersen is set for September 22, which will be a key event to watch for potential U.S. approval. This partnership expands the drug's global commercial reach while maintaining Ionis's control over the U.S. market.
At the time of this announcement, IONS was trading at $78.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.6B. The 52-week trading range was $37.32 to $86.74. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.