Ionis Exceeds 2018 Financial Guidance

Total revenue increased 17% compared to 2017 to $600 million

Commercial revenues more than doubled

Conference call and webcast today, February 27, 2019, at 11:30 a.m. Eastern Time

CARLSBAD, Calif., Feb. 27, 2019 /PRNewswire/ -- Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) today reported financial results for the fourth quarter and full year 2018 and reviewed highlights of its successful year.

Ionis Pharmaceuticals (PRNewsFoto/Ionis Pharmaceuticals, Inc.)

"We begin 2019 in the strongest position in our 30-year history. Building on this foundation, we believe we are positioned for continued growth," said Stanley T. Crooke, M.D., Ph.D., chairman of the board and chief executive officer of Ionis. "In 2018, we launched TEGSEDI globally through our affiliate, Akcea, adding revenue from TEGSEDI sales to our substantial commercial revenue from SPINRAZA. We also achieved many important milestones in our pipeline, particularly among the medicines within our late-stage pipeline. This week, Novartis exercised its option to license AKCEA-APO(a)-LRx for which we earned $150 million. Novartis plans to initiate a Phase 3 cardiovascular outcomes study and initiation activities are already underway. We and Akcea are finalizing Phase 3 study designs for the AKCEA-TTR-LRx pivotal program that we plan to initiate in the second half of this year. In addition, our late-stage neurological disease programs recently achieved important milestones. Roche is now enrolling patients in the Phase 3 study of IONIS-HTTRx for Huntington's disease and Biogen is planning to add an additional cohort to the ongoing study of IONIS-SOD1Rx for patients with SOD1-related ALS that has the potential to support marketing approval. We achieved these successes while growing revenues, investing in the commercialization of TEGSEDI, advancing our broad and diverse pipeline, and consistently leading our industry in innovation – demonstrating the success of our business model and robust technology platform."

2018 Financial Results and Highlights

  • Revenues increased by 17 percent compared to 2017
    • Total revenue was $600 million compared to $514 million in 2017.
    • Commercial revenue from SPINRAZA for 2018 was $238 million, more than double compared to 2017.
    • TEGSEDI sales were $2.2 million in the fourth quarter of 2018, with commercial sales commencing in the EU in October and in the U.S. in December.
    • Commercial revenue was over 40 percent of total revenue in 2018 compared to less than 25 percent in 2017, reflecting Ionis' transition to a commercial-stage company.
  • Achieved third consecutive year of non-GAAP operating profitability
    • GAAP operating income was $11 million for the fourth quarter and an operating loss of $61 million for the full year 2018, compared to an operating loss of $6 million and operating income of $31 million for the same periods in 2017.
    • Non-GAAP operating income was $45 million for the fourth quarter and $70 million for the full year 2018, compared to operating income of $16 million and $117 million for the same periods in 2017.
    • Operating expenses increased in 2018 primarily due to investment in the commercialization of TEGSEDI.
  • Strong financial results trigger the recognition of a significant tax benefit
    • In 2018, Ionis reported GAAP net income attributable to Ionis common stockholders of $274 million, primarily driven by a $291 million one-time non-cash income tax benefit Ionis recorded in 2018 related to its income tax assets.
    • Because of Ionis' strong financial performance over the past few years and its outlook regarding the continued growth of its business, the Company believes it is more likely than not that it will be able to use the significant amount of income tax assets it has accumulated to offset future taxable income.
  • Substantial cash position of over $2 billion enables continued investment in commercial products and pipeline

2019 Financial Guidance
The Company's full year 2019 financial guidance consists of the following components (on a non-GAAP basis):

Net income on a non-GAAP basis

Total Revenue

>$725 million

R&D Expenses

~$360 million to $390 million

SG&A Expenses

~$260 million to $290 million

Operating Income

>$100 million

Cash and Short-Term Investments

~$2 billion

"Building upon our success in 2018, we expect to continue our momentum this year and beyond. We anticipate both commercial and R&D revenues to contribute to our overall earnings growth this year, potentially making 2019 our fourth consecutive year of non-GAAP operating profitability. And for the first time, due to our strong financial performance in recent years and strong confidence in our future, we are projecting to be profitable on the bottom line on a non-GAAP basis in 2019. We believe our ability to be profitable while investing in commercial activities, fully exploiting our pipeline and advancing our technology, clearly sets us apart from our peers," said Elizabeth L. Hougen, chief financial officer of Ionis.

All non-GAAP amounts referred to in this press release exclude non-cash compensation expense related to equity awards. Please refer to the reconciliation of non-GAAP and GAAP measures, which is provided later in this release. In prior financial results releases, Ionis referred to amounts that excluded non-cash compensation expense related to equity awards as "pro forma". Additionally, Ionis has labeled its prior period financial statements "as revised" to reflect the revenue recognition accounting standard the Company adopted on January 1, 2018.

Business Highlights

  • SPINRAZA – the worldwide standard-of-care for the treatment of all people with spinal muscular atrophy
    • In 2018, SPINRAZA sales nearly doubled to $1.7 billion compared to 2017, driven by growth in the U.S. and outside the U.S., as reported by Biogen.
    • As of the fourth quarter of 2018, more than 6,600 SMA patients from over 40 countries were on SPINRAZA, including commercial patients and patients in the expanded access program and clinical trials.
    • In the fourth quarter of 2018, the number of adult patients on therapy in the U.S. grew by over 20 percent compared to the third quarter, accounting for more than 50 percent of new patient starts in the U.S.
  • TEGSEDI™ (inotersen) – launch underway in multiple markets for the treatment of polyneuropathy of hereditary transthyretin amyloidosis (hATTR) in adult patients
    • TEGSEDI generated $2.2 million in sales from the U.S. and EU in its first quarter of launch.
    • PTC Therapeutics, Ionis and Akcea's commercialization partner in Latin America, filed for marketing authorization for TEGSEDI in Brazil and was granted priority review.

Key Upcoming Events

  • Roche plans to present data from the OLE study of IONIS-HTTRx in patients with Huntington's disease in 2019.
  • Biogen plans to present data from the completed portions of the Phase 1/2 study of IONIS-SOD1Rx in 2019.
  • Ongoing regulatory discussions on WAYLIVRA in the EU, and if approved, launch.
  • Ionis and its partners plan to report data from numerous Phase 2 studies including IONIS-FXIRx, IONIS-HBVRx, and IONIS-GHR-LRx.

Revenue

Ionis' revenue in the three months and year ended December 31, 2018 was $192 million and $600 million, respectively, compared to $168 million and $514 million for the same periods in 2017 and was comprised of the following (amounts in millions):

   

Three months ended,

 

Year ended

 
   

December 31,

 

December 31,

 
   

2018

 

2017

 

2018

 

2017

 

Revenue:

     

(as revised)

     

(as revised)

 

Commercial revenue:

                 

SPINRAZA royalties

 

$70

 

$52

 

$238

 

$113

 

TEGSEDI product sales, net

 

2

 

-

 

2

 

-

 

Licensing and royalty revenue

 

1

 

2

 

15

 

7

 

Total commercial revenue

 

73

 

54

 

255

 

120

 

R&D Revenue:

                 

Amortization from upfront payments

 

33

 

28

 

125

 

98

 

Milestone payments

 

38

 

17

 

83

 

152

 

License fees

 

38

 

51

 

102

 

116

 

Other services

 

10

 

18

 

35

 

28

 

Total R&D revenue

 

119

 

114

 

345

 

394

 

Total revenue

 

$192

 

$168

 

$600

 

$514

 

The increase in revenue in 2018 compared to 2017 was primarily due to increasing commercial revenue from SPINRAZA royalties, which more than doubled. Additionally, Ionis earned more than $2 million from TEGSEDI product sales in the fourth quarter of 2018.

Ionis' R&D revenue demonstrates the Company's ability to generate sustainable revenue from its numerous partnerships. R&D revenue from the amortization of upfront payments increased over $25 million in 2018 compared to 2017. The increase in amortization was primarily due to Ionis' 2018 strategic neurology collaboration with Biogen. Also, in 2018, Ionis added amortization revenue from its new collaboration with Roche to develop IONIS-FB-LRx. Ionis' R&D revenue from milestone payments, license fees and other services for 2018 continued to make a significant contribution to Ionis' financial results.

Already in the first quarter of 2019, Ionis has earned $185 million. The Company earned $150 million from Novartis when it licensed AKCEA-APO(a)-LRx and $35 million from Roche when it enrolled the first patient in the Phase 3 study of IONIS-HTTRx in patients with Huntington's disease.

Operating Expenses

Operating expenses for the three months and year ended December 31, 2018 on a GAAP basis were $181 million and $661 million, respectively, and on a non-GAAP basis were $147 million and $530 million, respectively. These amounts compare to GAAP operating expenses for the three months and year ended December 31, 2017 of $174 million and $483 million, respectively, and non-GAAP operating expenses of $152 million and $397 million, respectively. The full year increase in operating expenses in 2018 compared to 2017 was principally due to Ionis' investments in the global launch of TEGSEDI. The Company's SG&A expenses also increased due to an increase in fees the Company owed under its in-licensing agreements related to SPINRAZA, due to increased SPINRAZA product sales.

Income Tax Benefit

Ionis reported an income tax benefit of $292 million and $291 million for the three months and year ended December 31, 2018, respectively, compared to $7 million and $6 million for the same periods in 2017. Ionis' tax benefit increased significantly in 2018 primarily due to a one-time non-cash tax benefit related to its deferred income tax assets. In the fourth quarter of 2018, the Company released a large portion of the valuation allowance associated with its deferred tax assets. Because of Ionis' strong financial performance over the past few years and its outlook regarding the continued growth of its business, the Company determined that it is more likely than not that it will be able to utilize most of the deferred income tax assets it has accumulated to offset future taxable income.

Net Loss Attributable to Noncontrolling Interest in Akcea

At December 31, 2018, Ionis owned approximately 75 percent of Akcea. The shares of Akcea third parties own represent an interest in Akcea's equity that Ionis does not control. However, because Ionis continues to maintain overall control of Akcea through its voting interest, Ionis reflects the assets, liabilities and results of operations of Akcea in Ionis' consolidated financial statements. Ionis reflects the noncontrolling interest attributable to other owners of Akcea's common stock in a separate line called "Net loss attributable to noncontrolling interest in Akcea" on Ionis' statement of operations. Ionis' net loss attributable to noncontrolling interest in Akcea for the three months and year ended December 31, 2018, was $17 million and $59 million, respectively. Ionis' net loss attributable to noncontrolling interest in Akcea for the three months and year ended December 31, 2017, was $6 million and $11 million, respectively.

Net Income (Loss) Attributable to Ionis Common Stockholders

Ionis reported net income attributable to Ionis' common stockholders of $320 million and $274 million for the three months and year ended December 31, 2018, respectively, compared to a net loss of $3 million and net income of $0.3 million for the same periods in 2017, all on a GAAP basis. On a non-GAAP basis, Ionis reported net income attributable to Ionis' common stockholders of $351 million and $394 million for the three months and year ended December 31, 2018, respectively, compared to $18 million and $85 million for the same periods in 2017. The increase in 2018 net income attributable to Ionis' common stockholders was primarily due to increases in revenue and the income tax benefit Ionis recognized in the fourth quarter of 2018.

For the three months ended December 31, 2018, basic and diluted net income per share were $2.32 and $2.21, respectively. For the year ended December 31, 2018, basic and diluted net income per share were $2.09 and $2.07, respectively. For the three months ended December 31, 2017, basic and diluted net loss per share were each $0.03. For the year ended December 31, 2017, basic and diluted net income per share were each $0.15. All amounts are on a GAAP basis.

Balance Sheet

As of December 31, 2018, Ionis had cash, cash equivalents and short-term investments of $2.1 billion compared to $1.0 billion at December 31, 2017. The increase in Ionis' cash, cash equivalents and short-term investments was primarily due to the $1 billion Ionis received from Biogen for the 2018 strategic neurology collaboration.

Webcast and Conference Call

Today, at 11:30 a.m. Eastern Time, Ionis will conduct a live webcast conference call to discuss this earnings release and related activities. Interested parties may listen to the call by dialing 877-443-5662 or access the webcast at www.ionispharma.com. A webcast replay will be available for a limited time.

About Ionis Pharmaceuticals, Inc.

As the leader in RNA-targeted drug discovery and development, Ionis has created an efficient, broadly applicable, proprietary antisense technology platform with the potential to treat diseases where no other therapeutic approaches have proven effective. Our drug discovery platform has served as a springboard for actionable promise and realized hope for patients with unmet needs – such as children and adults with spinal muscular atrophy (SMA). We created SPINRAZA® (nusinersen)* and are proud to have brought new hope to the SMA community by developing the first and only approved treatment for this disease.

Our sights are set on all the patients we have yet to reach with a pipeline of more than 40 medicines with the potential to treat patients with cardiovascular disease, rare diseases, neurological diseases, infectious diseases and cancer. We created TEGSEDI™ (inotersen) the world's first RNA-targeted therapeutic approved for the treatment of polyneuropathy of hereditary transthyretin (TTR) amyloidosis (ATTR) in adult patients that our affiliate Akcea Therapeutics is commercializing. Together with Akcea, we are also bringing new medicines to patients with cardiometabolic lipid disorders.

To learn more about Ionis follow us on twitter @ionispharma or visit http://ir.ionispharma.com/.

*Spinraza is marketed by Biogen.

Ionis' Forward-looking Statement

This press release includes forward-looking statements regarding Ionis' business, financial guidance and the therapeutic and commercial potential of SPINRAZA (nusinersen) and TEGSEDI (inotersen) and Ionis' technologies and products in development, including the business of Akcea Therapeutics, Inc., Ionis' majority-owned affiliate. Any statement describing Ionis' goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs. Ionis' forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Ionis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Ionis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Ionis' programs are described in additional detail in Ionis' annual report on Form 10-K for the year ended December 31, 2017, and most recent Form 10-Q quarterly filing, which are on file with the SEC. Copies of these and other documents are available from the Company.

In this press release, unless the context requires otherwise, "Ionis," "Company," "we," "our," and "us" refers to Ionis Pharmaceuticals and its subsidiaries.

Ionis Pharmaceuticals is a trademark of Ionis Pharmaceuticals, Inc. Akcea Therapeutics is a trademark of Akcea Therapeutics, Inc. TEGSEDI is a trademark of Akcea Therapeutics, Inc. WAYLIVRA is a trademark of Akcea Therapeutics, Inc. SPINRAZA® is a registered trademark of Biogen.

IONIS PHARMACEUTICALS, INC.

SELECTED FINANCIAL INFORMATION

Condensed Consolidated Statements of Operations

(In Thousands, Except Per Share Data)

 
   

Three months ended,

 

Year ended,

 
   

December 31,

 

December 31,

 
   

2018

 

2017

 

2018

 

2017

 
       

(as revised)

   

(as revised)

 
   

(unaudited)

       

Revenue:

         

Commercial revenue:

                 

SPINRAZA royalties

 

$70,187

 

$52,073

 

$237,930

 

$112,540

 

TEGSEDI product sales, net

 

2,237

 

-

 

2,237

 

-

 

Licensing and royalty revenue

 

523

 

1,835

 

14,755

 

7,474

 

Total commercial revenue

 

72,947

 

53,908

 

254,922

 

120,014

 

Research and development revenue under collaborative agreements

 

119,166

 

113,883

 

344,752

 

394,165

 

Total revenue

 

192,113

 

167,792

 

599,674

 

514,179

 

Expenses:

                 

Cost of products sold

 

777

 

-

 

1,820

 

-

 

Research, development and patent

 

113,451

 

128,285

 

414,604

 

374,644

 

Selling, general and administrative

 

67,103

 

45,707

 

244,622

 

108,488

 

Total operating expenses

 

181,331

 

173,992

 

661,046

 

483,132

 

Income (loss) from operations

 

10,782

 

(6,200)

 

(61,372)

 

31,047

 

Other income (expense):

                 

Investment income

 

11,484

 

673

 

30,187

 

8,179

 

Interest expense

 

(11,458)

 

(10,787)

 

(44,789)

 

(44,752)

 

Loss on debt financing liability for leased facility

 

-

 

-

 

-

 

(7,689)

 

Other expenses

 

(37)

 

(19)

 

(182)

 

(3,548)

 

Income (loss) before income tax benefit

 

10,771

 

(16,333)

 

(76,156)

 

(16,763)

 
                   

Income tax benefit

 

291,964

 

7,164

 

291,141

 

5,980

 
                   

Net income (loss)

 

$302,735

 

$(9,169)

 

$214,985

 

$(10,783)

 

Net loss attributable to noncontrolling interest in Akcea Therapeutics, Inc.

 

17,343

 

6,247

 

58,756

 

11,129

 

Net income (loss) attributable to Ionis Pharmaceuticals, Inc. common stockholders

 

$320,078

 

$(2,922)

 

$273,741

 

$346

 
                   

Basic net income (loss) per share

 

$2.32

 

$(0.03)

 

$2.09

 

$0.15

 

Diluted net income (loss) per share

 

$2.21

 

$(0.03)

 

$2.07

 

$0.15

 

Shares used in computing basic net income (loss) per share

 

137,699

 

124,818

 

132,320

 

124,016

 

Shares used in computing diluted net income (loss) per share

 

149,856

 

124,818

 

134,056

 

126,098

 
                           

IONIS PHARMACEUTICALS, INC.

SELECTED FINANCIAL INFORMATION

Condensed Consolidating Statement of Operations

(In Thousands)

 
   

Year Ended,

December 31, 2018

   
   

Ionis

 

Akcea

 

Eliminations

 

Ionis Consolidated

Revenue:

   

Commercial revenue:

               

SPINRAZA royalties

 

$237,930

 

$-

 

$-

 

$237,930

TEGSEDI product sales, net

 

-

 

2,237

 

-

 

2,237

Licensing and royalty revenue

 

2,755

 

12,000

 

-

 

14,755

Total commercial revenue

 

240,685

 

14,237

 

-

 

254,922

Research and development revenue under collaborative agreements

 

294,122

 

50,630

 

-

 

344,752

Intercompany revenue

 

107,137

 

-

 

(107,137)

 

-

Total revenue

 

641,944

 

64,867

 

(107,137)

 

599,674

Expenses:

               

Cost of products sold

 

-

 

11,733

 

(9,913)

 

1,820

Research, development and patent expenses

 

289,650

 

130,340

 

(5,386)

 

414,604

Selling, general and administrative

 

90,562

 

153,610

 

450

 

244,622

Total operating expenses

 

380,212

 

295,683

 

(14,849)

 

661,046

Income (loss) from operations

 

261,732

 

(230,816)

 

(92,288)

 

(61,372)

Other income (expense):

               

Investment income

 

24,563

 

5,624

 

-

 

30,187

Interest expense

 

(44,789)

 

-

 

-

 

(44,789)

Other expenses

 

-

 

(182)

 

-

 

(182)

Income (loss) before income tax expense

 

241,506

 

(225,374)

 

(92,288)

 

(76,156)

                 

Income tax (expense) benefit

 

291,588

 

(447)

 

-

 

291,141

                 

Net income (loss)

 

$533,094

 

$(225,821)

 

$(92,288)

 

$214,985

Net loss attributable to noncontrolling interest in Akcea Therapeutics, Inc.

 

$-

 

$-

 

$58,756

 

$58,756

Net income (loss) attributable to Ionis Pharmaceuticals, Inc. common stockholders

 

$533,094

 

$(225,821)

 

$(33,532)

 

$273,741

IONIS PHARMACEUTICALS, INC.

Reconciliation of GAAP to Non-GAAP Basis:

Condensed Consolidated Operating Expenses, Income (Loss) From Operations, and Net Income (Loss)

(In Thousands)

 
   

Three months ended,

December 31,

 

Year ended,

December 31,

   

2018

 

2017

 

2018

 

2017

       

(as revised)

     

(as revised)

   

(unaudited)

As reported research, development and patent expenses according to GAAP

 

$113,451

 

$128,285

 

$414,604

 

$374,644

Excluding compensation expense related to equity awards

 

(18,860)

 

(16,078)

 

(76,557)

 

(64,521)

                 

Non-GAAP research, development and patent expenses

 

$94,591

 

$112,207

 

$338,047

 

$310,123

As reported selling, general and administrative expenses according to GAAP

 

$67,103

 

$45,707

 

$244,622

 

$108,488

Excluding compensation expense related to equity awards

 

(15,083)

 

(6,255)

 

(54,595)

 

(21,454)

                 

Non-GAAP selling, general and administrative expenses

 

$52,020

 

$39,452

 

$190,027

 

$87,034

As reported operating expenses according to GAAP

 

$181,331

 

$173,992

 

$661,046

 

$483,132

Excluding compensation expense related to equity awards

 

(34,103)

 

(22,333)

 

(131,312)

 

(85,975)

                 

Non-GAAP operating expenses

 

$147,228

 

$151,659

 

$529,734

 

$397,157

                 

As reported income (loss) from operations according to GAAP

 

$10,782

 

$(6,200)

 

$(61,372)

 

$31,047

Excluding compensation expense related to equity awards

 

(34,103)

 

(22,333)

 

(131,312)

 

(85,975)

Non-GAAP income from operations

 

$44,885

 

$16,133

 

$69,940

 

$117,022

As reported net income (loss) attributable to Ionis Pharmaceuticals, Inc. common stockholders according to GAAP

 

$320,078

 

$(2,922)

 

$273,741

 

$346

Excluding compensation expense related to equity awards attributable to Ionis Pharmaceuticals, Inc. common stockholders

 

(30,897)

 

(20,518)

 

(119,790)

 

(84,369)

Non-GAAP net income attributable to Ionis Pharmaceuticals, Inc. common stockholders according to GAAP

 

$350,975

 

$17,596

 

$393,531

 

$84,715

Reconciliation of GAAP to Non-GAAP Basis

As illustrated in the Selected Financial Information in this press release, non-GAAP operating expenses, non-GAAP income (loss) from operations, and non-GAAP net income (loss) were adjusted from GAAP to exclude compensation expense related to equity awards, which are non-cash. Ionis has regularly reported non-GAAP measures for operating results as non-GAAP results. These measures are provided as supplementary information and are not a substitute for financial measures calculated in accordance with GAAP. Ionis reports these non-GAAP results to better enable financial statement users to assess and compare its historical performance and project its future operating results and cash flows. Further, the presentation of Ionis' non-GAAP results is consistent with how Ionis' management internally evaluates the performance of its operations. In prior financial results releases, Ionis referred to amounts that excluded non-cash compensation expense related to equity awards as "pro forma".

IONIS PHARMACEUTICALS, INC.

Condensed Consolidated Balance Sheets

(In Thousands)

 
           
   

December 31,

 

December 31,

 
   

2018

 

2017

 
       

(as revised)

 

Assets:

         

Cash, cash equivalents and short-term investments

 

$2,084,072

 

$1,022,715

 

Contracts receivable

 

12,759

 

62,955

 

Other current assets

 

111,055

 

83,064

 

Property, plant and equipment, net

 

132,160

 

121,907

 

Other assets

 

327,738

 

32,133

 

Total assets

 

$2,667,784

 

$1,322,774

 
           

Liabilities and stockholders' equity:

         

Other current liabilities

 

$120,038

 

$118,276

 

Current portion of deferred contract revenue

 

160,256

 

125,336

 

1% convertible senior notes

 

568,215

 

533,111

 

Long-term obligations, less current portion

 

64,756

 

72,745

 

Long-term deferred contract revenue

 

567,359

 

108,026

 

Total Ionis stockholders' equity

 

1,048,079

 

281,013

 

Noncontrolling interest in Akcea Therapeutics, Inc.

 

139,081

 

84,267

 

Total stockholders' equity

 

1,187,160

 

365,280

 

Total liabilities and stockholders' equity

 

$2,667,784

 

$1,322,774

 
           

 

IONIS PHARMACEUTICALS, INC.

Condensed Consolidating Balance Sheet

(In Thousands)

 
   

December 31, 2018

               

Ionis

   

Ionis

 

Akcea

 

Eliminations

 

Consolidated

                 

Assets:

               

Cash, cash equivalents and short-term investments

 

$1,831,463

 

$252,609

 

$-

 

$2,084,072

Contracts receivable

 

10,763

 

1,996

 

-

 

12,759

Receivable from Akcea Therapeutics, Inc.

 

18,901

 

-

 

(18,901)

 

-

Other current assets

 

102,613

 

12,630

 

(4,188)

 

111,055

Property, plant and equipment, net

 

126,464

 

5,696

 

-

 

132,160

Other assets

 

885,288

 

92,330

 

(649,880)

 

327,738

Total assets

 

$2,975,492

 

$365,261

 

$(672,969)

 

$2,667,784

                 

Liabilities and stockholders' equity:

               

Other current liabilities

 

$87,820

 

$55,307

 

$(23,089)

 

$120,038

Current portion of deferred contract revenue

 

134,902

 

25,354

 

-

 

160,256

1% convertible senior notes

 

568,215

 

-

 

-

 

568,215

Long-term obligations, less current portion

 

60,314

 

4,442

 

-

 

64,756

Long-term deferred contract revenue

 

565,624

 

3,434

 

(1,699)

 

567,359

Total stockholders' equity before noncontrolling interest

 

1,558,617

 

276,724

 

(787,262)

 

1,048,079

Noncontrolling interest in Akcea Therapeutics, Inc.

 

-

 

-

 

139,081

 

139,081

Total stockholders' equity

 

1,558,617

 

276,724

 

(648,181)

 

1,187,160

Total liabilities and stockholders' equity

 

$2,975,492

 

$365,261

 

$(672,969)

 

$2,667,784

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/ionis-exceeds-2018-financial-guidance-300803088.html

SOURCE Ionis Pharmaceuticals, Inc.


Company Codes: NASDAQ-NMS:IONS

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