Ionis Licenses Key SMA Drug to Biogen, Projects Over $7B Peak Revenue
IONS has more than doubled off its 52-week low of $34.72.
Summary
Ionis Pharmaceuticals has licensed salanersen, a potential once-yearly successor to Spinraza for SMA, to Biogen. Biogen has already secured FDA Breakthrough designation and is advancing the drug through three Phase 3 studies. Ionis projects this program, alongside others, will contribute to over $7 billion in peak annual revenue and positive cash flow by 2028. This significant licensing deal and revenue projection build on recent positive news, including strong Q1 earnings and favorable clinical data for other pipeline assets.
At the time of this announcement, IONS was trading at $75.20 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $12.4B. The 52-week trading range was $34.72 to $86.74. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.