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We expect investor focus to be on launch plans for inotersen and volanesorsen on the first-quarter conference call.
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Ionis also granted an exclusive, worldwide license for inotersen to Akcea Therapeutics to leverage the latter’s commercial infrastructure and capabilities for a successful launch of the drug. Ionis is also gearing up for their launch. These candidates are expected to receive approval in the second half 2018. Regulatory applications for both the candidates are under review in the United States as well as Europe. This will likely increase R&D cost in the soon-to-be reported quarter.Īpart from Spinraza, Ionis is focused on two late-stage candidates, inotersen and volanesorsen. In December 2017, Ionis initiated a phase I study to evaluate antisense drug candidate, IONIS-JBI1-2.5Rx, in patients with gastrointestinal immune disorder. Ionis earned $30 million in the first quarter in license fees from AstraZeneca related to out-licensing of its fatty liver candidate, AZD2693. Last week, Biogen released its first-quarter 2018 results and announced that Spinraza witnessed strong demand in the international markets. Ionis earns royalties on Spinraza sales from Biogen. Ionis and Biogen have collaborated to develop and commercialize Spinraza. Ionis earns revenues in the form of upfront, milestone and other payments under its partnerships with leading health care companies like Biogen BIIB. Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into an earnings announcement, especially when the company is seeing negative estimate revisions. However, we need to have a positive ESP to be confident about an earnings surprise. Zacks Rank: Ionis’ Zacks Rank #3 increases the predictive power of ESP. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
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Zacks ESP: Earnings ESP, which represents the difference between the Most Accurate estimate (loss of 15 cents) and the Zacks Consensus Estimate (loss of 11 cents), is -39.54%. But that is not the case here, as you will see below. This is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to be able to beat estimates. Our proven model does not conclusively show that Ionis is likely to beat estimates this quarter. Let’s see how things are shaping up for this announcement.