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Ionis Pharmaceuticals (NASDAQ: IONS) – US Market Buzz http://www.usmarketbuzz.com Nation and Economy Mon, 20 Jul 2020 16:28:22 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.23 Ionis Pharmaceuticals (NASDAQ: IONS) Jumps To New High On Multiple Positive Development http://www.usmarketbuzz.com/ionis-pharmaceuticals-nasdaq-ions-jumps-to-new-high-on-multiple-positive-development-3581 Thu, 28 Feb 2019 06:25:34 +0000 http://www.usmarketbuzz.com/?p=3581 Shares of Ionis Pharmaceuticals (NASDAQ: IONS) skyrocketed 15%% to $70.94 on Wdesnday after the company released fourth-quarter earnings that beat management’s expectations. Revenue jumped 14% year over year in the fourth quarter. And the biotech recorded a whopping $320 million in profit for the quarter, although most of that was due to a one-time $292 million tax benefit, because the company determined it’s likely to be able to utilize most of the deferred income tax assets that it’s accumulated over the decades it lost money that can offset future taxable income.

Why ASDN Could Massively Outperform IONS in 2019

Earlier this week, there was a news that Novartis will pay $150 million to Ionis Pharmaceuticals to license an RNA-targeting cardiovascular drug as the Swiss company aims to bolster its range of heart disease treatments that now includes the blockbuster Entresto.

Novartis will do a Phase 3 trial of TQJ230, also known as AKCEA-APO(a)-LRx, against an inherited form of cardiovascular disease where people have elevated levels of so-called lipoprotein (a) that cannot effectively be cut via diet and lifestyle changes and plays a role in the narrowing of the arteries, heart attacks, thrombosis and stroke.

The stock made 52-week high of $72.20 in yesterday’s session and are up almost 80% from its 52-week low of $39.07.

 

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