Ionis Pharmaceuticals: 2Q Earnings Snapshot
CARLSBAD, Calif. (AP) _ Ionis Pharmaceuticals Inc. (IONS) on Tuesday reported a loss of $40.4 million in its second quarter.
The Carlsbad, California-based company said it had a loss of 29 cents per share. Losses, adjusted for non-recurring costs, were 5 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The drug discovery and development company posted revenue of $117.7 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $128.2 million.
Ionis Pharmaceuticals shares have dropped 15 percent since the beginning of the year. The stock has fallen 18 percent in the last 12 months.