When will Sobi report 2021?
Is Ionis a Sobi?
On 4 May, at 08:00 CEST, Swedish Orphan Biovitrum AB (publ) (Sobi™) will publish its report for the first quarter 2021. Investors, financial analysts and media are invited to participate in a telephone conference, which will include a presentation of the results, on the same day at 13:00 CEST. The event will be hosted by Sobi's CEO and President, Guido Oelkers, and the presentation will be held in English.
News
Ionis Pharmaceuticals Inc (NASDAQ: IONS) said it expanded its distribution agreement with Swedish Orphan Biovitrum AB (“Sobi”) for Tegsedi in North America. Tegsedi is indicated for polyneuropathy (a condition where multiple peripheral nerves become damaged) in adults with hereditary transthyretin amyloidosis. Under the terms of the expanded agreement, Akcea retains the marketing authorizations for Tegsedi in the U.S. and Canada. The company will continue to supply the commercial product to Sobi and manage regulatory and manufacturing processes. After Sobi’s inclusion in Tegsedi distribution in North America, Ionis is cutting 70% of Akcea’s staffers in the U.S. and Canada, primarily those working on Tegsedi, to “better align with the immediate needs of its business and to focus on high priority programs.” It includes IONIS-TTR-LRx, which inhibits the production of transthyretin, the same protein targeted by Tegsedi. The restructuring will cost Ionis between $11 to $14 million, according to an SEC filing. The company expects to save up to $50 million a year beginning in 2022 due to the expanded Sobi agreement. Separately, Ionis announced that it intends to raise 0 million via Convertible Senior Notes due 2026. Price Action: IONS shares are down 5.2% at $44.8 in the premarket session on the last check Wednesday. See more from BenzingaClick here for options trades from BenzingaWhy Scholar Rock Shares Dropped Despite Positive Apitegromab Data In Spinal Muscular AtrophyIonis Antisense Oligonucleotides To Be Evaluated With Progenity's Drug Delivery System© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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