NASDAQ$IONS

Ionis Pharmaceuticals · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Ionis reported positive eplontersen ATTRv-PN data and is on track to file NDA in H2:22, with tofersen NDA under priority review and PDUFA set for January 25, 2023.

Ionis Pharmaceuticals reported strong second quarter results with total revenues of $134 million and a net loss of $105 million on a GAAP basis. The company highlighted advancements in its pipeline, including positive Phase 3 data for eplontersen and the acceptance of the NDA for tofersen. With $2.0 billion in cash and short-term investments, Ionis is on track to achieve its 2022 financial guidance.

  • Reported positive Phase 3 data from the NEURO-TTRansform study of eplontersen in patients with hereditary ATTR polyneuropathy and are on track to file an NDA in the second half of this year.
  • FDA accepted the NDA for tofersen and granted priority review, enabling it to potentially be the first disease modifying treatment approved for a genetic form of ALS.
  • The pelacarsen Lp(a) HORIZON and olezarsen BALANCE Phase 3 studies recently completed enrollment.
  • Reported positive data from six mid-stage programs, positioning the company to grow its Phase 3 pipeline to at least eight medicines across 10 indications.

Headline financials

Total Revenue

$134M

Previous: $126M+6.4%
EPS (adj)

-$0.56

Previous: -$0.26-115.4%
Capital Expenditures

-$6.04M

Previous: -$6.13M+1.5%
Free Cash Flow

-$111M

Previous: -$87M-27.8%
Net Income

-$105M

Previous: -$80.9M-30.0%
Operating Income

-$85.5M

Previous: -$73M-17.2%
Gross Profit

$129M

Previous: $123M+5.1%
Cash & Equivalents

$522M

Previous: $565M-7.6%
Total Assets

$2.46B

Previous: $2.5B-1.6%
Stock-Based Comp

$24.5M

Previous: $30M-18.4%

Revenue & EPS history

Ionis · Revenue · Quarterly

$134M

Q2 2022+6.4%vs Q2 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

Ionis · $99M total across 2 segments · Q2 2022

  • SPINRAZA Royalties
    $60M-16.7%
  • Collaborative Agreement Rev
    $39M

Forward guidance

Ionis is on track to achieve its 2022 financial guidance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q2 2022

Historical avgQ2 2022

+0.2%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+1.2%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+30.2%

Q3 2016

Best reaction

-13.5%

Q3 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.2%+5.1%+6.6%
Q4 2025-5.3%-4.1%-15.6%
Q3 2025-2.3%+0.1%+12.5%
Q1 2025+3.0%+12.9%+12.4%
Q4 2024-0.4%-0.2%+3.0%
Q3 2024-0.9%+0.2%-1.8%
Q2 2024-0.7%-4.9%-3.6%
Q1 2024-5.0%-7.6%-5.7%
Q4 2023-0.8%+3.9%-3.7%
Q3 2023+4.3%+5.4%+14.1%
Q2 2023+0.7%+0.8%+4.2%
Q1 2023+1.3%-1.0%+17.5%
Q4 2022-4.0%-5.3%-11.2%
Q3 2022+7.6%+4.2%-11.2%
Q2 2022+0.9%-3.5%-3.2%
Q1 2022-1.2%-17.6%-6.1%
Q4 2021+3.4%+10.9%+19.3%
Q3 2021+5.0%+5.8%-20.0%
Q2 2021+4.2%+2.0%+4.5%
Q1 2021-11.1%-13.7%-17.7%
Q4 2020-4.7%-3.6%-23.4%
Q3 2020+3.7%+6.6%+9.0%
Q2 2020-4.6%-8.7%-6.1%
Q1 2020-7.7%-2.7%-0.3%
Q4 2019-3.6%-5.4%-10.7%
Q3 2019+1.8%+4.2%+18.8%
Q2 2019+6.6%+6.2%-3.6%
Q1 2019+0.9%-2.8%-7.2%
Q4 2018+15.2%+14.4%+31.7%
Q3 2018+5.4%-0.0%+8.8%
Q2 2018+4.4%+11.6%+1.9%
Q1 2018+7.4%+3.7%+12.9%
Q4 2017+2.8%-4.7%-14.2%
Q3 2017+0.9%+3.0%-0.6%
Q2 2017-8.6%-11.0%+7.4%
Q1 2017-2.6%+3.9%+10.3%
Q4 2016+5.4%+16.6%-13.8%
Q3 2016+30.2%+51.0%+44.9%
Q2 2016+0.1%-2.5%-14.1%
Q1 2016-8.7%
Q4 2015-4.6%
Q3 2015+14.8%
Q2 2015+1.0%
Q1 2015+1.2%
Q4 2014-0.8%
Q3 2014+4.4%
Q2 2014+6.3%
Q1 2014-6.5%
Q4 2013-9.7%
Q3 2013-6.1%
Q2 2013-4.2%
Q1 2013-12.4%
Q4 2012+7.6%
Q3 2012-7.0%
Q2 2012+3.9%
Q1 2012+7.6%
Q4 2011+2.8%
Q3 2011-13.5%
Q2 2011-8.2%
Q1 2010-2.7%
Q1 2011+2.8%
Q4 2008-1.6%
Q4 2010-1.6%
Q3 2009+2.5%
Q3 2010+2.5%
Q4 2009-3.8%
Q2 2010-3.8%
Q2 2009-3.8%

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