Ionis Pharmaceuticals, Inc. (IONS) Social Stream

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$IONS Ionis Pharmaceuticals is a California-based clinical research firm focusing on RNA-targeted therapeutics. These medications are designed to interact with the patient’s own RNA, making for a precise treatment that disrupts disease processes. Ionis has three drugs approved and an active pipeline.

Approved drugs: Spinraza treats spinal muscular dystrophy; Tegsedi, treats neurodegenerative disease and Waylivra. Spinraza has highest sales $2B revenue last year. Over 11,000 patients on Spinraza end of 4Q20. Tegsedi & Waylivra, saw sales increase 65% 2019 to 2020. Ion $1.9 billion cash on hand end of 2020.

IONS's transition from partner to invest in pipelines could unlock value from RNAi platform. IONS shares could enjoy steady multiple expansion as the company diversifies away from Spinraza royalties toward in-house orphan drug therapies, including TTR. More upside if IONS can unlock value from its partners pipelines, Biogen, Pfizer, Roche, and Novartis.

Outperform, $63 target