IONS Tryngolza sHTG Approval. Good Label & A Read On Commercial

研报英文原文证据摘录

IONS Tryngolza sHTG Approval. Good Label & A Read On Commercial

Biotechnology - Immunology

Genetic Medicines - Market Weight

IONIS PHARMACEUTICALS, INC. (IONS) June 24, 2026

IONS Tryngolza sHTG Approval. Good Label & A Read On Rating:

Commercial Outperform

Price:

$76.52

The Wolfe Byte Price Target:

Tryngolza approved for sHTG. Liver enzyme monitoring will not be required $98

% Upside:and Ionis messaging suggests the market is large enough to support at least 28.1%

two players. Separately, we update our model to account for royalties and cash

View IONS Model

adjustments. View Comp Table

Company Information

Tryngolza approved for sHTG (see label). Reiterating FY26 guidance Tryngolza 52-Week Range $40 - $87

revenues of $100-110 million and >$3B annual peak revenue opportunity. Market Cap. (M) $12,646

Tryngolza will be available for sHTG in the U.S. in July (product should be ready 'in Shares Out. (MM) 165.3 Avg. Value Traded (MM) $107.35

the channel' in the coming days). SI% of Float 10.5%

Dividend Yield 0.0%

Commentary from the call. Ionis expects anyone with triglycerides above 500 mg/

dL to have access. No regular monitoring required for anything, however docs may Price Performance

YTD LTMconsider liver enzyme testing before initiation and before any dose increase. Ionis 102% IONS (4)%

believes that AP benefit in the indication statement strengthens understanding SPX 8% 22%

for HCPs. The company expects flat pricing across doses, medical exceptions for

a period of time, and a quick start program. The initial focus is on lipid specialists 80

and this should broaden out 'fairly quickly' into the community setting. On launch 70

metrics, expects to share color around HCP mix and payer dynamics. Treatment 60