Ionis Pharma (IONS) Touches New High on Promising Olezarsen Results

We recently published 10 Power Stocks Crushing Wall Street — 7 at All-Time Highs. Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) is one of the best performers on Tuesday.

Ionis Pharmaceuticals soared to a new all-time high on Tuesday, as investors cheered promising results from the phase 3 studies of its drug candidate for the treatment of severe hypertriglyceridemia (sHTG).

At intra-day trading, the stock climbed by as much as 36.67 percent to its highest price of $57.91, before trimming gains to end the day just up by 34.84 percent at $57.49.

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In a statement, Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) said the recent studies showed its drug candidate, Olezarsen, successfully lowered blood fat by up to 72 percent, as well as pancreas attacks by 85 percent.

Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) enrolled a total of 1,100 patients in the studies, marking the largest pivotal program for sHTG.

“These data are groundbreaking, demonstrating that olezarsen is the first therapy for sHTG to significantly reduce acute pancreatitis events,” said Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) SVP Sam Tsimikas.

“Despite current standard of care and lifestyle changes, people with sHTG—who could have triglyceride levels reaching into the thousands—remain vulnerable to unpredictable and life-threatening acute pancreatitis attacks. These results reinforce our confidence that olezarsen has the potential to change the sHTG treatment paradigm,” he added.

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Disclosure: None. This article is originally published at Insider Monkey.