Ionis Pharmaceuticals: 3Q Earnings Snapshot
CARLSBAD, Calif. (AP) _ Ionis Pharmaceuticals Inc. (IONS) on Wednesday reported third-quarter net income of $26 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Carlsbad, California-based company said it had profit of 18 cents.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share.
The drug discovery and development company posted revenue of $168 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $150.5 million.
Ionis Pharmaceuticals shares have risen almost 1% since the beginning of the year. The stock has risen roughly 6% in the last 12 months.