Joseph Baroldi, Executive Vice President and Chief Business Officer at Ionis Pharmaceuticals Inc. (NASDAQ:IONS), recently disclosed the sale of company shares valued at approximately $144,861. The transactions, dated January 16, involved the sale of 4,430 shares at a price of $32.70 each. The sale comes as the $4.97 billion market cap company trades near its 52-week low of $31.40, having declined over 33% in the past six months. InvestingPro analysis indicates the stock is currently fairly valued based on comprehensive fundamental analysis.
On January 15, Baroldi also executed transactions to acquire shares through the vesting of restricted stock units. These acquisitions were made at no cost, aligning with the terms of Ionis Pharmaceuticals' equity incentive plans.
Following these transactions, Baroldi holds a significant number of shares both directly and indirectly. The sales were conducted to cover tax withholding obligations associated with the vesting of restricted stock units, as specified in the company's equity incentive plan agreements.
In other recent news, Ionis Pharmaceuticals has maintained its positive ratings from both Piper Sandler and Needham following the FDA's approval of olezarsen (TRYNGOLZA) for adults with familial chylomicronemia syndrome (FCS). The drug, Ionis's first solo commercial launch, is priced at $595,000 per year, aligning with the expected cost for treatments targeting ultra-rare diseases. The company plans to transition patients from Open-Label Extension (OLE) and Expanded Access Program (EAP) to the commercial drug during the first half of 2025. Piper Sandler projects $37 million in U.S. FCS revenue for the fiscal year 2025, while Needham's revenue forecast for TRYNGOLZA in the same year stands slightly lower at $27 million. Ionis also recently reported its third-quarter financial results for 2024, emphasizing non-GAAP financial results. These developments underscore Ionis Pharmaceuticals' progress in the pharmaceutical industry.
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