Ionis Raises Revenue Guidance Following First Independent Commercial Launch
The biotechnology company increased its full-year total revenue projection to as high as $900 million.
Ionis Pharmaceuticals (IONS), the biotechnology company, reported first-quarter revenue that rose 87% year-over-year to $246 million. The growth was driven by commercial performance and $95 million in research and development milestone payments.
The quarter marked a transition toward independent commercialization for the company. Tryngolza (olezarsen) received FDA approval on June 24, 2026, for the reduction of triglycerides and risk of acute pancreatitis in adults with severe hypertriglyceridemia. This represented the first independent commercial launch by Ionis in a prevalent population.
Other product sales showed upward momentum. U.S. net product sales for Dawnzera (donidalorsen) reached $16 million in the first quarter, an increase of 125% compared to the fourth quarter of 2025.
On the clinical front, results were mixed. The Phase 3 CARDIO-TTRansform trial of eplontersen in adults with ATTR-CM missed its primary endpoint of a composite outcome of cardiovascular mortality and recurrent cardiovascular events. Conversely, partner GSK announced that bepirovirsen achieved a 19% functional cure rate in the overall study population and 26% in patients with lower viral activity in Phase 3 B-Well trials for chronic hepatitis B.
Ionis raised its full-year 2026 total revenue guidance to a range of $875 million to $900 million, up from a previous projection of $800 million to $825 million. The company also decreased its projected non-GAAP operating loss to between $425 million and $475 million, compared to the prior estimate of $500 million to $550 million.
Specific expectations for Tryngolza were adjusted upward. The company increased its annual peak net sales guidance for olezarsen in severe hypertriglyceridemia to more than $3 billion, up from the previous guidance of more than $2 billion.
Ionis maintains a target of achieving cash flow breakeven by 2028.