Ionis Pharmaceuticals Shares Drop 27% Following Reduced Revenue Guidance for Tryngolza
Ionis Pharmaceuticals (IONS) experienced a significant stock price decline of approximately 27% on Monday following a downward revision of its revenue outlook. Despite reporting third-quarter financial results that exceeded analyst expectations for both earnings and revenue, the company's long-term guidance was heavily impacted by revised projections for Tryngolza (olezarsen). The company drastically lowered its full-year revenue forecast for the severe hypertriglyceridemia therapy, cutting expectations to approximately $50 million from a previous range of $100 million to $110 million. This sharp reduction in commercial expectations has overshadowed the positive Q3 earnings beat, leading to immediate market volatility.
Tickers: $IONS
Topics: earnings beat revenue guidance downgrade stock price drop
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Part of the story Ionis Pharmaceuticals Shares Drop 27% Following Reduced Revenue Guidance for Tryngolza (2 articles)