Ionis Pharmaceuticals Inc (NASDAQ:IONS) released its earnings report for the first quarter of 2018 on Friday.
The following are a few things for investors to know about Ionis Pharmaceuticals Inc’s most recent earnings report.
- The company reported losses per share of one penny for the first quarter of the year.
- This is down from its earnings per share of 7 cents reported in the same period of the year prior.
- However, it does still come in above Wall Street’s losses per share estimate of 4 cents for the quarter.
- Ionis Pharmaceuticals Inc also reported a net loss of $10.81 million for the first quarter of 2018.
- Net income reported by the pharmaceutical company in the first quarter of 2017 was $8.96 million.
- IONs also reported an operating loss of $3.30 million for the first quarter of the year.
- Operating income reported by the company in the same quarter of the previous year came in at $19.49 million.
- During the first quarter of 2018, Ionis Pharmaceuticals Inc reported revenue of $144.42 million.
- This is a drop from its revenue of $115.80 million reported for the same time last year.
- Despite this, IONS’ revenue still beat out analysts’ estimate of $144.01 million for the period.
“In the first quarter, we made further progress toward our goal of being a multiproduct, profitable company,” Elizabeth Hougen, CFO of Ionis Pharmaceuticals Inc, said in a statement. “Our strong first quarter results were driven by a 25% increase in revenue, primarily from substantial SPINRAZA royalties.”
IONS stock was up 7% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.