Ionis Pharmaceuticals — Apr 30, 2025 release

generating $280 million in an upfront payment, with the potential to earn up to $660 million in additional payments plus royalties in the mid-teen percentage range on annual net sales   • IONIS-MAPT Rx (BIIB080) received FDA Fast Track designation for the treatment of Alzheimer’s disease   First Quarter 2025 Financial Results   “We are increasing our 2025 financial guidance including raising revenue guidance by more than 20 percent due to our strong first quarter results and recent successful licensing transactions. We are also substantially improving our operating loss and cash guidance and now expect to end the year with approximately $1.9 billion in cash . Our strong financial position and commitment to drive operating leverage position Ionis to advance our strategic priorities and successfully navigate the dynamic macroeconomic environment,” said Elizabeth L. Hougen, chief financial officer, Ionis. “Our first quarter results reflected encouraging early performance in the TRYNGOLZA launch, adding product revenue to our P&L for the first time. Moving forward, the three additional independent launches anticipated over the next couple of years position Ionis to deliver substantial and growing product revenue . This product revenue coupled with anticipated increasing royalty revenue from multiple partner launches and disciplined investment , position Ionis to achieve sustained positive cash flow . ”   Revenue   Ionis’ revenue was comprised of the following:     Three months ended       March 31 ,       2025     2024   Revenue   (amounts in millions)   Commercial revenue:             Product sales, net:             TRYNGOLZA sales, net   $ 6     $ -