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Ionis Pharmaceuticals Loses $1 Billion After Tryngolza Sales Cut

Stock market decline in pharmaceuticals

Ionis Pharmaceuticals lost more than $1 billion in market value after reducing sales projections for its triglyceride-lowering drug, Tryngolza. The company now expects the drug to generate $50 million in sales by the end of this year, down from a previous forecast of $100 to $110 million.

During the third quarter, Tryngolza sales reached only $9 million, significantly below Wall Street’s consensus expectations of $21 million. The stock reacted sharply, with shares falling from over $39 at market opening to below $28, marking a decline of around 25%.

This downturn may affect investor confidence and future funding opportunities for Ionis, as the revised sales outlook raises concerns about the drug’s market potential.

Source: statnews.com · Image: Hot off the press — the latest D-Wave wafer of quantum processors and TIME cover story by Steve Jurvetson, CC BY 2.0, via Wikimedia Commons

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