As discussed earlier, Ionis Pharmaceuticals (IONS) reported year-over-year (or YoY) growth of 5% in revenues to $118 million during Q2 2018 as compared to revenues of $112 million during the second quarter of 2017. Ionis missed Wall Street analyst estimates for revenues and EPS in Q2 2018.
The above graph compares revenues for Ionis since the first quarter of 2017.
Revenue performance and expectations
Ionis reports revenues under two categories:
- commercial revenues including revenues from licensing and royalty revenues
- research and development revenues from collaborative agreements with other companies
Ionis reported commercial revenues of $57 million during Q2 2018, over 100% growth as compared to commercial revenues of $24 million during the second quarter of 2017. Also, commercial revenues were $99 million during the first half of 2018 as compared to commercial revenues of $32 million during the first half of 2017. The growth in commercial revenues was driven by Spinraza royalties.
The research and development revenues under the collaborative agreements for Q2 2018 were $61 million as compared to $88 million during the second quarter of 2017. Also, the research and development revenues were $163 million for the first half of 2018 as compared to $196 million during the first half of 2017.
Key drugs portfolio
The products that Ionis has developed in its severe and rare franchise portfolio include the following:
- Spinraza (nusinersen) has been approved for the treatment of pediatric and adult patients with spinal muscular atrophy. Biogen (BIIB) holds the development, manufacturing, and commercializing licenses for the drug Spinraza.
- The Kynamro injection has been approved for the treatment of Homozygous Familial Hypercholesterolemia by the US Food & Drug Administration (or FDA) and a few other countries. Kastle Therapeutics, a Sanofi (SNY) subsidiary, holds the worldwide development and commercialization rights for the Kynamro injection.