Ionis Pharmaceuticals, Inc. (NASDAQ: IONS)
Ionis Pharmaceuticals, Inc. (IONS), a RNA-targeted drug discovery and development company on Friday announced that the U.S. FDA has approved SPINRAZA. SPINRAZA is used for the treatment of patients with spinal muscular atrophy (SMA). Currently in the U.S SPIRAZA is the only treatment that has been approved for SMA.
Ionis Pharmaceuticals, Inc. CEO’s Comments
“At Ionis, we have had the privilege of discovering and, together with Biogen, developing SPINRAZA. We are very pleased with today’s announcement, which is an important milestone for the entire SMA community. Now we look forward to the benefit that SPINRAZA can bring to patients with SMA and their families. SPINRAZA is truly a precision medicine that works by altering the processing of a single cellular RNA. We are proud that SPINRAZA exists because Ionis created and validated a new platform for drug discovery, antisense technology,” said Stanley T. Crooke, M.D., Ph.D., chief executive officer and chairman of Ionis. “We want to thank the families, physicians and their staff who participated in our clinical trials. Their dedication and support have been crucial to the approval of SPINRAZA for all those with SMA.” PR Newswire
IONS Technical Analysis
IONS opened trading Friday at $51.55 which was down from the previous day’s trading close of $51.59 and closed trading on Friday at $53.41 with a spike up after market to $57.65, equivalent to a 8% increase from the closing price. Taking a look at the daily chart we can see that the last time IONS traded above these levels we have to go back to January 6th when it traded at $58.72.
Taking a closer look at the daily chart we can see that before the spike up IONS had already been in an overall upward trend dating back to October 27th when it traded at $25.69. IONS has a float of 120.25 million shares and traded below the normal daily trading volume on Friday. For trading purposes, I would like to see IONS open trading on Tuesday above $56.25 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.35 from my entry position fearing anything more than that and the stock would start to fill in the gap up. Check out Ross over at Warrior Trading where he is applying his Day Trading Strategies to these types of stocks.
Company Profile
Ionis Pharmaceuticals, Inc., a RNA-targeted drug discovery and development company, develops drugs for patients with severe and rare diseases in the United States. The company markets KYNAMRO for the treatment of homozygous familial hypercholesterolemia, and Alicaforsen for ulcerative colitis and pouchitis. Its drugs in Phase III development include Nusinersen for the treatment of patients with spinal muscular atrophy; IONIS-TTRRx for the treatment of patients with various forms of TTR amyloidosis, including familial amyloid polyneuropathy, familial amyloid cardiomyopathy, and wild-type TTR amyloidosis; volanesorsen for the treatment of patients with familial chylomicronemia syndrome and familial partial lipodystrophy; Custirsen to treat cancer; and Plazomicin for the treatment of severe bacterial infection. The companys products under development also include IONIS-DMPK-2.5 for myotonic dystrophy type 1; IONIS-HTT for huntington’s disease; ATL1103 for acromegaly; IONIS-SOD1 for amyotrophic lateral sclerosis; IONIS-FXI (BAY 2306001) for clotting disorders; IONIS-APO(a)-L for high Lp; IONIS-ANGPTL3-L for mixed dyslipidemias; Apatorsen (OGX-427) and IONIS-STAT3-2.5 (AZD9150) for cancer; EXC 001 (PF-06473871) for scarring; ATL1102 for multiple sclerosis; RG-101 for hepatitis C virus infection; IONIS-GCGR and IONIS-PTP1B for type 2 diabetes; and IONIS-FGFR4 for obesity. In addition, it is developing IONIS-GCCR for cushing’s syndrome; IONIS-PKK for hereditary angioedema; RG-012 for alport syndrome; IONIS-AR-2.5 (AZD5312) for prostate cancer; IONIS-GSK4-L for ocular disease; IONIS-HBV and IONIS-HBV-L for hepatitis B virus infection; and IONIS-DGAT2 for nonalcoholic steatohepatitis. It has strategic alliance with The University of Texas MD Anderson Cancer Center. The company was formerly known as Isis Pharmaceuticals, Inc. and changed its name to Ionis Pharmaceuticals, Inc. in December 2015. The company was founded in 1989 and is headquartered in Carlsbad, California. Yahoo Finance
