CARLSBAD, Calif., Feb. 24, 2022 /PRNewswire/ -- Ionis
Pharmaceuticals, Inc. (Nasdaq: IONS) today reported financial
results for the fourth quarter and full year ended December 31, 2021, and recent business
achievements.
"During 2021, we made significant progress towards achieving our
vision of becoming a leading fully-integrated biotechnology
company. We advanced our commercial strategy and go-to-market plans
for our near-term commercial opportunities, eplontersen, olezarsen
and donidalorsen. Our collaboration with AstraZeneca to jointly
develop and commercialize eplontersen enables us to potentially
maximize benefit for patients, bolster our commercial organization
and accelerate preparations for our near-term product launches.
Most recently, we initiated Phase 3 studies with olezarsen in
patients with severely high triglycerides and donidalorsen in
patients with hereditary angioedema. This expands our Phase 3
pipeline to six medicines addressing eight indications. We also
advanced our technology, positioning us to build on our leadership
in RNA-targeted therapeutics and add value for our future
medicines," said Brett P. Monia,
Ph.D., chief executive officer of Ionis. "We look forward to a
steady cadence of catalysts throughout this year, highlighted by
eplontersen Phase 3 data in patients with hATTR polyneuropathy
planned for mid-year. We expect to file for regulatory approval for
eplontersen before year end, assuming positive data. We also expect
to make continued advancements to expand and diversify our
technology. Based on our anticipated near- and mid-term catalysts,
we believe we are well positioned to drive increasing value for
patients and shareholders."
2021 Summary Financial Results
- Exceeded 2021 financial guidance
-
- $810 million in total
revenues
- $695 million of operating
expenses on a non-GAAP basis(1) and $840 million on a GAAP basis
- Net income of $116 million on a
non-GAAP basis(1) and a net loss of $29 million on a GAAP basis
- Well capitalized with cash and short-term investments of
$2.1 billion at year-end, enabling
accelerating investments in 2022 with the goal to drive substantial
future growth
Recent Marketed Products Highlights
- SPINRAZA®: the global market leader for the
treatment of spinal muscular atrophy (SMA) patients of all
ages
-
- $1.9 billion in worldwide
SPINRAZA sales in 2021
- More than 11,000 patients worldwide on therapy at the end of
2021 across commercial, expanded access and clinical trial
settings
- Biogen continued to expand upon SPINRAZA's competitive profile
through the ongoing ASCEND, RESPOND and DEVOTE studies
- TEGSEDI® and WAYLIVRA®: important
medicines approved for the treatment of patients with hereditary
TTR amyloidosis with polyneuropathy and familial chylomicronemia
syndrome, respectively
-
- TEGSEDI and WAYLIVRA achieved innovative drug pricing in
Brazil
- WAYLIVRA is under review in Brazil for the treatment of familial partial
lipodystrophy (FPL). If approved, WAYLIVRA will be the first
approved treatment for patients with FPL in Brazil
Fourth Quarter 2021 and Recent Events
- Advancing Ionis' near-term commercial opportunities toward the
market
-
- Eplontersen: potential to change the standard-of-care for
patients with TTR amyloidosis (ATTR)
-
- Initiated a collaboration with AstraZeneca to jointly develop
and commercialize eplontersen valued at up to $3.6 billion in an upfront and potential
milestone payments, plus cost-sharing and royalties
- The U.S. FDA granted orphan drug designation to eplontersen for
the treatment of patients with ATTR
- Olezarsen: potential first-in-class treatment for patients with
elevated triglycerides
-
- Initiated the Phase 3 CORE study of olezarsen in patients with
severe hypertriglyceridemia (SHTG) with data expected in 2024
- Reported positive data from the Phase 2 study of olezarsen in
patients with moderate hypertriglyceridemia and at high risk for or
with established cardiovascular disease in the European Heart
Journal
- Donidalorsen: potential best-in-class prophylactic treatment
for patients with hereditary angioedema (HAE)
-
- Initiated the Phase 3 OASIS-HAE study of donidalorsen in
patients with HAE with data expected in 2024
- Presented positive data from the Phase 2 study of donidalorsen
in patients with HAE at the ACAAI annual scientific meeting
- Advancing Ionis' leading cardiovascular disease franchise
-
- AstraZeneca presented new data from the Phase 1 multiple
ascending dose study of ION449 (AZD8233) targeting PCSK9 in statin
treated subjects with dyslipidemia at the AHA scientific
sessions
- Addressing substantial unmet medical needs with Ionis' broad
neurological disease franchise
-
- Biogen licensed ION306 (BIIB115) for the treatment of SMA with
the potential for extended dosing intervals, resulting in a
$60 million payment from Biogen
- Biogen reported that while the Phase 3 VALOR study of tofersen
in patients with SOD1-ALS did not meet the primary endpoint, signs
of reduced disease progression across multiple secondary and
exploratory endpoints were observed. Biogen continues to engage
with regulators to discuss a path forward for tofersen
- Roche announced plans to initiate a new Phase 2 study of
tominersen in patients with Huntington's disease based on new
findings from a post-hoc analysis of the Phase 3 GENERATION-HD1
study
- Initiated the Phase 1/2 HALOS study of ION582 (BIIB121) in
patients with Angelman syndrome, resulting in a $10 million payment from Biogen
- Advanced three neurological disease programs, resulting in
$23 million in payments from
Biogen
- Dynacure advanced IONIS-DNM2-2.5Rx, resulting in
$7.5 million in payments from
Dynacure
- Advancing additional programs in Ionis' clinical pipeline for
diseases with unmet medical need
-
- Initiated a Phase 2 study of sapablursen (formerly known as
IONIS-TMPRSS6-LRx) in patients with polycythemia vera,
the second indication for sapablursen
- Reported topline results from the Phase 2 study of cimdelirsen
(formerly known as IONIS-GHR-LRx) in patients with
uncontrolled acromegaly, achieving proof of mechanism with a strong
indication of proof of concept
- Advanced two metabolic disease programs, resulting in
$40 million in payments from
AstraZeneca
2022 Pipeline Milestones(2)
Anticipated 2022
Regulatory Filings
|
Program
|
Anticipated
Indication
|
H1
|
H2
|
Eplontersen
|
hATTR
polyneuropathy
|
|
•
|
|
Anticipated Key
2022 Data Readouts
|
Program
|
Data
Readout
|
Anticipated
Indication
|
H1
|
H2
|
Tominersen
|
Phase 3 post
hoc
|
Huntington's
disease
|
✓
|
|
Eplontersen
|
Phase 3
|
hATTR
polyneuropathy
|
•
|
ION449
(PCSK9)
|
Phase 2b
|
Cardiovascular
disease
|
•
|
|
Donidalorsen
|
Phase 2
|
HAE
|
•
|
|
IONIS-C9Rx
(BIIB078)
|
Phase 2
|
C9-ALS
|
•
|
|
IONIS-AGT-LRx
|
Phase 2b
|
Treatment-resistant
hypertension
|
|
•
|
Fesomersen
(FXI)
|
Phase 2b
|
Thrombosis
|
|
•
|
Bepirovirsen
(HBV)
|
Phase 2b
|
Hepatitis B virus
infection
|
|
•
|
Donidalorsen
|
Phase 2
OLE
|
HAE
|
|
•
|
Cimdelirsen
|
Phase 2
|
Acromegaly
(monotherapy)
|
|
•
|
|
Anticipated Key
2022 Study Initiations
|
Program
|
Phase
|
Anticipated
Indication
|
H1
|
H2
|
Sapablursen
|
2
|
Polycythemia
vera
|
✓
|
|
IONIS-MAPTRx (BIIB080)
|
2
|
Alzheimer's
disease
|
|
•
|
ION904
(AGT)
|
2
|
Uncontrolled
hypertension
|
|
•
|
ION717
(PRNP)
|
1/2
|
Prion
disease
|
|
•
|
|
Anticipated Key
2022 Technology Advancements
|
Program
|
Anticipated
Advancement
|
H1
|
H2
|
SMA
|
Advance follow-on
program
|
✓
|
|
Muscle
LICA
|
Advance into
preclinical development (IND-supporting)
|
|
•
|
MsPA
Backbone
|
Advance into
preclinical development (IND-supporting)
|
|
•
|
✓ = achieved • = planned
2021 Financial Results and 2022 Financial Guidance
"Over the last year, we achieved numerous pipeline and
technology milestones, advanced multiple medicines towards the
market and accelerated preparations for our near-term commercial
launches. We also exceeded our 2021 financial guidance, driven by
revenue from advancing multiple partnered programs and by
strengthening and streamlining our business," said Elizabeth L. Hougen, chief financial officer of
Ionis. "We have a long history of financial responsibility that
provides us with a strong financial foundation. With more than
$2 billion of cash and a substantial
and sustainable base of commercial and R&D revenues, we are
well positioned to accelerate our investments in 2022 to drive
substantial future growth."
2022 Financial Guidance
Ionis' full year 2022 financial guidance consists of the
following components (on a non-GAAP basis)(1):
Guidance
|
Revenue
|
>$575
million
|
Operating Expenses
(1)
|
$825 million to $850
million
|
Net Loss
(1)
|
<$275
million
|
Cash and Short-Term
Investments
|
~$1.7
billion
|
|
|
(1)
|
All non-GAAP amounts
referred to in this press release exclude non-cash compensation
expense related to equity awards. In 2021 and 2020 all non-GAAP
amounts also excluded expenses related to the Akcea Merger and
restructured commercial operations and the related tax effects.
Please refer to the section below titled "Financial Impacts of
Akcea Merger and Restructured Commercial Operations" for a summary
of the costs specific to these transactions. Additionally, please
refer to the detailed reconciliation of non-GAAP and GAAP measures,
which is provided later in this press release.
|
|
|
(2)
|
Partnered program
milestones are based on partners' most recent publicly available
disclosures.
|
Revenue
Ionis' revenue was comprised of the following (amounts in
millions):
|
|
Three months
ended
|
|
Year ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
Revenue:
|
|
|
|
|
|
|
Commercial
revenue:
|
|
|
|
|
|
|
|
|
SPINRAZA
royalties
|
|
$69
|
|
$75
|
|
$268
|
|
$287
|
TEGSEDI and WAYLIVRA
revenue, net
|
|
9
|
|
19
|
|
56
|
|
70
|
Licensing and royalty
revenue
|
|
9
|
|
2
|
|
18
|
|
8
|
Total commercial
revenue
|
|
87
|
|
96
|
|
342
|
|
365
|
R&D
revenue:
|
|
|
|
|
|
|
|
|
Amortization from
upfront payments
|
|
21
|
|
12
|
|
78
|
|
80
|
Milestone
payments
|
|
40
|
|
110
|
|
88
|
|
183
|
License
fees
|
|
290
|
|
71
|
|
291
|
|
86
|
Other
services
|
|
2
|
|
1
|
|
11
|
|
15
|
Total R&D
revenue
|
|
353
|
|
194
|
|
468
|
|
364
|
Total
revenue
|
|
$440
|
|
$290
|
|
$810
|
|
$729
|
The Company's revenue increased by more than 10 percent compared
to 2020 driven in large part by significant partner payments across
multiple partnered programs. In 2021, the Company earned
$200 million from its new
collaboration with AstraZeneca to jointly develop and commercialize
eplontersen. The Company also earned more than $160 million from Biogen for advancing several
neurology disease programs.
The Company successfully completed the transition of its TEGSEDI
and WAYLIVRA operations in the EU and North America to Sobi in the first and second
quarters of 2021, respectively. The decrease in TEGSEDI and
WAYLIVRA revenue in 2021 compared to 2020 was due to the shift from
product sales to distribution fees based on net sales generated by
Sobi. As part of the transition, Ionis restructured its commercial
operations resulting in substantial cost savings.
Operating Expenses
Ionis is advancing a large late-stage pipeline and as a result,
its non-GAAP operating expenses increased in 2021 compared to 2020.
Higher R&D expenses were driven by the expanded number of Phase
3 studies the Company was conducting, which doubled over the course
of 2021 from 3 to 6 studies. Additionally, the Company recognized
$35 million in R&D expense in the
third quarter of 2021 for licensing Bicycle Therapeutic's
technology. Lower SG&A expenses primarily reflected operating
efficiencies achieved from integrating Akcea and restructuring the
Company's commercial operations.
Net Loss Attributable to Ionis Common Stockholders
Net loss attributable to Ionis' common stockholders in 2021
decreased compared to 2020 for the reasons discussed above. Also
contributing to the decrease in Ionis' net loss in 2021 compared to
2020 was the non-cash adjustment of the valuation allowance Ionis
recorded against its federal net deferred tax assets in 2020.
Balance Sheet
As of December 31, 2021, Ionis had
cash, cash equivalents and short-term investments of $2.1 billion, compared with $1.9 billion as of December 31, 2020.
The Company revised its 2020 amounts to reflect the simplified
convertible instruments guidance the Company adopted
retrospectively on January 1,
2021.
Webcast
Ionis will conduct a webcast today at 11:30 a.m. Eastern time to discuss this
announcement and related activities. Interested parties may access
the webcast here. A webcast replay will be available for a limited
time at the same address.
About Ionis Pharmaceuticals, Inc.
For more than 30 years, Ionis has been the leader in
RNA-targeted therapy, pioneering new markets and changing the
standards of care with its novel antisense technology. Ionis
currently has three marketed medicines and a premier late-stage
pipeline highlighted by industry leading cardiovascular and
neurological franchises. Our scientific innovation began and
continues with the knowledge that sick people depend on us, which
fuels our vision of becoming a leading, fully-integrated
biotechnology company.
To learn more about Ionis visit www.ionispharma.com or
follow us on Twitter @ionispharma.
Ionis' Forward-looking Statement
This press release includes forward-looking statements regarding
Ionis' business, financial guidance and the therapeutic and
commercial potential of SPINRAZA (nusinersen),
TEGSEDI (inotersen), WAYLIVRA (volanesorsen), eplontersen,
olezarsen, donidalorsen, ION363, pelacarsen, tofersen, Ionis'
technologies and Ionis' other products in development. Any
statement describing Ionis' goals, expectations, financial or other
projections, intentions or beliefs is a forward-looking statement
and should be considered an at-risk statement. Such statements are
subject to certain risks and uncertainties, including those related
to the impact COVID-19 could have on our business, and including
those inherent in the process of discovering, developing and
commercializing medicines that are safe and effective for use as
human therapeutics, and in the endeavor of building a business
around such medicines. Ionis' forward-looking statements also
involve assumptions that, if they never materialize or prove
correct, could cause its results to differ materially from those
expressed or implied by such forward-looking statements. Although
Ionis' forward-looking statements reflect the good faith judgment
of its management, these statements are based only on facts and
factors currently known by Ionis. As a result, you are cautioned
not to rely on these forward-looking statements. These and other
risks concerning Ionis' programs are described in additional detail
in Ionis' annual report on Form 10-K for the year ended
December 31, 2020, and the most
recent Form 10-Q quarterly filing, which are on file with the
SEC. Copies of these and other documents are available from the
Company.
In this press release, unless the context requires otherwise,
"Ionis," "Company," "we," "our" and "us" all refer to Ionis
Pharmaceuticals and its subsidiaries.
Ionis Pharmaceuticals® is a registered trademark of
Ionis Pharmaceuticals, Inc. Akcea Therapeutics® is a
registered trademark of Akcea Therapeutics, Inc.
TEGSEDI® is a registered trademark of Akcea
Therapeutics, Inc. WAYLIVRA® is a registered
trademark of Akcea Therapeutics, Inc. SPINRAZA® is
a registered trademark of Biogen.
IONIS
PHARMACEUTICALS, INC.
|
SELECTED FINANCIAL
INFORMATION
|
Condensed
Consolidated Statements of Operations
|
(In Millions,
Except Per Share Data)
|
|
|
|
Three months
ended,
|
|
Year ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
(as
revised*)
|
|
|
|
(as
revised*)
|
|
|
(unaudited)
|
|
|
|
|
Revenue:
|
|
|
|
|
|
|
|
|
Commercial
revenue:
|
|
|
|
|
|
|
|
|
SPINRAZA
royalties
|
|
$69
|
|
$75
|
|
$268
|
|
$287
|
TEGSEDI and WAYLIVRA
revenue, net
|
|
9
|
|
19
|
|
56
|
|
70
|
Licensing and royalty
revenue
|
|
9
|
|
2
|
|
18
|
|
8
|
Total commercial
revenue
|
|
87
|
|
96
|
|
342
|
|
365
|
Research and development revenue under collaborative
agreements
|
|
353
|
|
194
|
|
468
|
|
364
|
Total
revenue
|
|
440
|
|
290
|
|
810
|
|
729
|
Expenses:
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
2
|
|
3
|
|
11
|
|
12
|
Research, development and patent
|
|
179
|
|
171
|
|
643
|
|
535
|
Selling, general and administrative
|
|
38
|
|
139
|
|
186
|
|
354
|
Total operating
expenses
|
|
219
|
|
313
|
|
840
|
|
901
|
Income (loss) from
operations
|
|
221
|
|
(23)
|
|
(30)
|
|
(172)
|
|
|
|
|
|
|
|
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
Loss on early
retirement of debt
|
|
-
|
|
-
|
|
(9)
|
|
-
|
Other income,
net
|
|
4
|
|
8
|
|
9
|
|
37
|
Income (loss) before
income tax benefit (expense)
|
|
225
|
|
(15)
|
|
(30)
|
|
(135)
|
|
|
|
|
|
|
|
|
|
Income tax benefit
(expense)
|
|
-
|
|
(341)
|
|
1
|
|
(345)
|
|
|
|
|
|
|
|
|
|
Net income
(loss)
|
|
$225
|
|
($356)
|
|
($29)
|
|
($480)
|
Net loss attributable
to noncontrolling interest in Akcea Therapeutics, Inc.
Inc.
|
|
-
|
|
1
|
|
-
|
|
36
|
Net income (loss)
attributable to Ionis Pharmaceuticals, Inc. common
stockholders
|
|
$225
|
|
($355)
|
|
($29)
|
|
($444)
|
|
|
|
|
|
|
|
|
|
Basic net income
(loss) per share
|
|
$1.59
|
|
($2.54)
|
|
($0.20)
|
|
($3.18)
|
Diluted net income
(loss) per share
|
|
$1.41
|
|
($2.54)
|
|
($0.20)
|
|
($3.18)
|
Shares used in
computing basic net income (loss) per share
|
|
141
|
|
140
|
|
141
|
|
140
|
Shares used in
computing diluted net income (loss) per share
|
|
160
|
|
140
|
|
141
|
|
140
|
|
*The Company revised
its 2020 amounts to reflect the simplified convertible instruments
guidance the Company adopted retrospectively on January 1,
2021.
|
IONIS
PHARMACEUTICALS, INC.
|
Reconciliation of
GAAP to Non-GAAP Basis:
|
Condensed
Consolidated Operating Expenses, Income (Loss) From Operations, and
Net Income (Loss)
|
(In
Millions)
|
|
|
|
Three months
ended December 31,
|
|
Year
ended December 31,
|
|
|
2021
|
|
2020
|
|
2021
|
|
2020
|
|
|
|
(as
revised*)
|
|
(as
revised*)
|
|
|
(unaudited)
|
|
|
As reported
research, development and patent expenses according to
GAAP
|
|
$179
|
|
$171
|
|
$643
|
|
$535
|
Excluding compensation expense related to equity
awards
|
|
(16)
|
|
(22)
|
|
(88)
|
|
(99)
|
Excluding Akcea merger and restructured commercial operation
costs**
|
|
(1)
|
|
(26)
|
|
(9)
|
|
(26)
|
|
|
|
|
|
|
|
|
|
Non-GAAP research,
development and patent expenses
|
|
$162
|
|
$123
|
|
$546
|
|
$410
|
|
|
|
|
|
|
|
|
|
As reported
selling, general and administrative expenses according to
GAAP
|
|
$38
|
|
$139
|
|
$186
|
|
$354
|
Excluding compensation expense related to equity
awards
|
|
(7)
|
|
(15)
|
|
(33)
|
|
(72)
|
Excluding Akcea merger and restructured commercial operation
costs**
|
|
1
|
|
(64)
|
|
(15)
|
|
(64)
|
|
|
|
|
|
|
|
|
|
Non-GAAP selling,
general and administrative expenses
|
|
$32
|
|
$60
|
|
$138
|
|
$218
|
|
|
|
|
|
|
|
|
|
As reported
operating expenses according to GAAP
|
|
$219
|
|
$313
|
|
$840
|
|
$901
|
Excluding compensation expense related to equity
awards
|
|
(23)
|
|
(36)
|
|
(121)
|
|
(171)
|
Excluding Akcea merger and restructured commercial operation
costs**
|
|
-
|
|
(90)
|
|
(24)
|
|
(90)
|
|
|
|
|
|
|
|
|
|
Non-GAAP operating
expenses
|
|
$196
|
|
$187
|
|
$695
|
|
$640
|
|
|
|
|
|
|
|
|
|
As reported income
(loss) from operations according to GAAP
|
|
$221
|
|
($23)
|
|
($30)
|
|
($172)
|
Excluding compensation expense related to equity
awards
|
|
(23)
|
|
(36)
|
|
(121)
|
|
(171)
|
Excluding Akcea merger and restructured commercial operation
costs**
|
|
-
|
|
(90)
|
|
(24)
|
|
(90)
|
Non-GAAP income
from operations
|
|
$244
|
|
$103
|
|
$115
|
|
$89
|
|
|
|
|
|
|
|
|
|
As reported net
income (loss) attributable to Ionis Pharmaceuticals, Inc. common
stockholders according to GAAP
|
|
$225
|
|
($355)
|
|
($29)
|
|
($444)
|
Excluding compensation
expense related to equity awards attributable to Ionis
Pharmaceuticals, Inc. common stockholders
|
|
(23)
|
|
(36)
|
|
(121)
|
|
(162)
|
Excluding Akcea merger
and restructured commercial operation costs**
|
|
-
|
|
(90)
|
|
(24)
|
|
(90)
|
Income tax effect
related to compensation expense related to equity awards
attributable to Ionis Pharmaceuticals, Inc. common
stockholders
|
|
-
|
|
(16)
|
|
-
|
|
2
|
Income tax effect
related to the Akcea merger and restructured commercial operation
costs**
|
|
-
|
|
(340)
|
|
-
|
|
(340)
|
Non-GAAP net
income attributable to Ionis Pharmaceuticals, Inc. common
stockholders according to GAAP
|
|
$248
|
|
$127
|
|
$116
|
|
$146
|
|
*The Company revised
its 2020 amounts to reflect the simplified convertible instruments
guidance the Company adopted retrospectively on January 1,
2021.
|
|
** In October 2020,
Ionis completed a merger transaction with Akcea such that following
the completion of the merger Akcea became a wholly owned subsidiary
of Ionis. Additionally, in December 2020 and April 2021,
Ionis restructured its European operations and its North American
TEGSEDI operations, respectively, as a result of entering into
distribution agreements with Sobi. The Company incurred $24 million
and $90 million of costs in conjunction with the Akcea merger and
restructuring of the Company's commercial operations for 2021 and
2020, respectively. The Company excluded these costs from its
non-GAAP amounts for those periods.
|
Reconciliation of GAAP to Non-GAAP Basis
As illustrated in the Selected Financial Information in this
press release, non-GAAP operating expenses, non-GAAP income (loss)
from operations, and non-GAAP net income (loss) attributable to
Ionis Pharmaceuticals, Inc. common stockholders were adjusted from
GAAP to exclude compensation expense related to equity awards and
costs related to the Akcea merger and restructured commercial
operations and the related tax effects. Compensation expense
related to equity awards are non-cash. Costs related to the Akcea
merger and restructured commercial operations include:
severance costs, retention costs and other costs related to
commercial operations. Ionis has regularly reported non-GAAP
measures for operating results as non-GAAP results. These measures
are provided as supplementary information and are not a substitute
for financial measures calculated in accordance with GAAP. Ionis
reports these non-GAAP results to better enable financial statement
users to assess and compare its historical performance and project
its future operating results and cash flows. Further, the
presentation of Ionis' non-GAAP results is consistent with how
Ionis' management internally evaluates the performance of its
operations.
IONIS
PHARMACEUTICALS, INC.
|
Condensed
Consolidated Balance Sheets
|
(In
Millions)
|
|
|
|
December
31,
|
|
December
31,
|
|
|
|
2021
|
|
2020
|
|
|
|
|
|
(as
revised*)
|
|
Assets:
|
|
|
|
|
|
Cash, cash
equivalents and short-term investments
|
|
$2,115
|
|
$1,892
|
|
Contracts
receivable
|
|
62
|
|
76
|
|
Other current
assets
|
|
168
|
|
162
|
|
Property,
plant and equipment, net
|
|
178
|
|
181
|
|
Other
assets
|
|
89
|
|
79
|
|
Total assets
|
|
$2,612
|
|
$2,390
|
|
|
|
|
|
|
|
Liabilities and
stockholders' equity:
|
|
|
|
|
|
Other current
liabilities
|
|
$143
|
|
$183
|
|
Current
portion of 1% convertible senior notes, net
|
|
-
|
|
309
|
|
Current
portion of deferred contract revenue
|
|
98
|
|
108
|
|
0% convertible
senior notes, net
|
|
619
|
|
-
|
|
0.125%
convertible senior notes, net
|
|
542
|
|
540
|
|
Long-term
obligations, less current portion
|
|
86
|
|
83
|
|
Long-term
deferred contract revenue
|
|
352
|
|
424
|
|
Total
stockholders' equity
|
|
772
|
|
743
|
|
Total liabilities and stockholders' equity
|
|
$2,612
|
|
$2,390
|
|
|
*The Company revised
its 2020 amounts to reflect the simplified convertible instruments
guidance the Company adopted retrospectively on January 1,
2021.
|
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SOURCE Ionis Pharmaceuticals, Inc.