Ionis Pharmaceuticals director Hayden buys $181k in stock

Published 27-12-2024, 03:32 am
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In a recent transaction, Michael R. Hayden, a director at Ionis Pharmaceuticals Inc. (NASDAQ:IONS), a $5.7 billion market cap biotechnology company, purchased a total of 5,000 shares of the company's common stock. The shares were acquired on December 23, 2024, at prices ranging from $36.1983 to $36.2332 per share, totaling approximately $181,078. Following these transactions, Hayden now directly owns 35,219 shares in the company. Additionally, 2,000 shares are indirectly held by his spouse through Genworks 2 Consulting, Inc., where she has sole voting and investment power. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 8.91, indicating robust short-term financial health. Despite recent market challenges, Ionis has achieved impressive revenue growth of 30.6% over the last twelve months. For comprehensive insider trading analysis and additional insights, explore the detailed Pro Research Report available on InvestingPro.

In other recent news, Ionis Pharmaceuticals continues to make substantial strides in the biotech industry with the U.S. Food and Drug Administration (FDA) approval of olezarsen (TRYNGOLZA) for adults with familial chylomicronemia syndrome (FCS). This marks Ionis Pharmaceuticals' first independent commercial drug launch. The company's strategy is to transition patients from Open-Label Extension (OLE) and Expanded Access Program (EAP) to the commercial drug during the first half of 2025.

Piper Sandler and Needham have maintained their positive ratings on Ionis following the FDA approval. Analysts from these firms project $37 million in U.S. FCS revenue for the fiscal year 2025. Results from pivotal studies for the severe hypertriglyceridemia (sHTG) indication, seen as the primary value driver for olezarsen, are expected in the second half of 2025.

In recent financial updates, Ionis Pharmaceuticals reported its third-quarter financial results for 2024, emphasizing non-GAAP financials to reflect their business operations and management. These developments underscore Ionis Pharmaceuticals' ongoing progress in the pharmaceutical industry.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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