The following is a summary of the Ionis Pharmaceuticals, Inc. (IONS) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Ionis Pharmaceuticals reported first-quarter revenues of $119 million, half of which came from commercial products such as SPINRAZA and WAINUA.

• Non-GAAP operating expenses increased year-over-year due to investment in growth opportunities.

• Cash and investments totaled $2.2 billion at end of quarter.

• Revenue growth potential is supported by a rich pipeline, substantial royalty revenue, and milestone potentials from partnered programs.

Business Progress:

• Key advancements include U.S. launch of WAINUA and the preparation for the launch of olezarsen and donidalorsen.

• Submission of NDA for olezarsen expected to receive U.S. approval by year-end.

• ION224 made progress by meeting primary and key secondary endpoints in Phase 2 trial for NASH and will be licensed out.

• Multiple products in pipeline including zilganersen, pelacarsen, bepirovirsen, and ALS drug ION541 aiming to provide strong future revenue growth.

• Ongoing trials including the CARDIO-TTRansform trial for TTR cardiomyopathy expected to complete by mid-2026 and Phase II trial for DGAT2 inhibitor in patients with NASH demonstrating reductions in liver fat, inflammation, and fibrosis.

• Continuation of Phase 2 study for sapablursen for treatment of polycythemia vera with preliminary data indicating efficacy.

More details: Ionis Pharmaceuticals IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.