Ionis Pharmaceuticals Inc. | $IONS Stock | Shares Gain Premarket On Deal With Novartis


Ionis Pharmaceuticals Inc. (NASDAQ: IONS)



Ionis Pharmaceuticals News

Shares of Ionis Pharmaceuticals ($IONS) took off Friday morning following news that Novartis ($NVS) has agreed to pay $1.6 billion to $IONS for the rights of two cardiovascular drugs and its AKCEA Therapeutics unit. Novartis is to send a first time payment of $75 million plus $100 million in equity investments in $IONS. If the drug proves to be successful, then Ionis Pharmaceuticals will receive up to $1.4 billion in payments.

The drugs Novartis is paying for were created with the intention of lowering cholesterol-carrying proteins in the blood while lowering the risk of cardiovascular diseases.


IONS Technicals

Ionis Pharmaceuticals

Looking at the 5-minute chart above, IONS shares took off following the news with Novartis and had reached premarket highs of $51.50 after closing Thursday at $47.09, marking a 9% jump in value. Shares have come alive back in November when they gained momentum and reclaimed the 200-day moving average. Since then shares have been in a decent up trend and were able to make a strong push into the high $50s.

Shares are looking to gap up this morning on decent premarket volume. Ideally we will want to see IONS hold higher prices and make a push back into the high $50s to continue the trend. However, look for prices to be volatile at the open as traders look to take profits from the pop up and new buyers jump in.


Comments On Deal

“Novartis is building a robust cardiovascular portfolio of targeted therapies to address unmet medical need of high-risk patients,” said Vasant Narasimhan, Global Head, Drug Development and Chief Medical Officer, Novartis. “Lp(a) and ApoCIII are potent, genetically validated cardiovascular risk reduction targets. The importance of predictive biomarkers in achieving successful cardiovascular outcomes will also be essential in the future payer environment. We look forward to working with Ionis and Akcea to develop both treatments.”


Ionis Pharmaceuticals Profile

Ionis Pharmaceuticals, Inc., formerly Isis Pharmaceuticals, Inc., is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics. The Company operates through two segments: Ionis Core and Akcea Therapeutics. The Company’s Ionis Core segment is developing a drug discovery platform. The Company’s Akcea Therapeutics segment consists of the operations of its subsidiary, Akcea Therapeutics, Inc., which develops and commercializes drugs for cardiometabolic disorders. The Company is developing transformational drugs, which include nusinersen, IONIS-TTR and volanesorsen that are designed to treat patients with orphan diseases. In addition to its Phase III programs, the Company has a pipeline of drugs in Phase II development, which includes IONIS-FXI and IONIS-APO(a)-L. Its Phase II pipeline includes drugs to treat patients with severe and rare diseases, viral infections, ocular diseases, metabolic disorders and cardiovascular diseases. – GoogleFinance




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