Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Q2 2023 Earnings Call Transcript

So we’re really focused on our program. So expect to read out from that study next year. We may be able to provide an update on the status of the program late this year. There is a — we have a standing invitation to an Angelman meeting called fast in which we always have a podium slot, and I’m sure we’ll be present this year too. But we’re not necessarily expecting data — new data at the meeting. But we haven’t decided what we’re going to present at that meeting yet. As far as ATXN2, this, of course, is another one of our ALS drugs. This drug is particularly exciting because it’s targeting a sporadic ALS. So no known genetic cause of ALS — is enrolling. This is a study in which we’re examining 4-dose cohorts with the highest dose cohort having expanded to add more patients to have the most robust data set to inform on a potential Phase 3 study if study is successful.

That, as you mentioned, is also due to read out around the same time next year, around midyear — next year. And all indications are that it’s going well.

Operator: The next question comes from David Lebowitz with Citi.

David Lebowitz : Given the HA data is coming up earlier next year, could you — assuming the Phase 2 data is replicated, could you tell us what your efforts will look like for launching the therapy and trying to convince physicians to move to a new modality?

Brett Monia : Onaiza?

Onaiza Cadoret: David, yes, we’re very excited about our preparations for donidalorsen launch and waiting for the Phase 3 data next year. We are thinking about the market in a variety of ways. As you know, this is going to be pretty much a switch market. So we do actually have a switch study that’s going alongside our Phase 3, which will be very informative and give confidence for physicians to switch patients as a confidence piece is going to come from the ability to make sure there are no breakthrough attacks in the process of the switch. And given our rapid onset, we believe we will be able to demonstrate that. On the patient side, I think we can see the switching behavior already in the marketplace with Orladeyo kind of inciting more switches from Takhzyro, which is the standard of care.

So we see that patients are willing to try new treatments. And want — they want zero attack rates, and they want more convenience, and we offer both with our profile as well. So the team is very active in understanding kind of what will drive some of the switching behavior and their go-to-market strategies alongside of that.

David Lebowitz : And one additional question. Moving towards a potential eplontersen launch. Do you have any thoughts on how market growth has shifted since the subcu was launched by Alnylam? And how that might apply to eplontersen and how you’re thinking of the launch going forward?

Onaiza Cadoret: Yes. Taking a look at how AMVUTTRA’s uptake is going on in the marketplace. I mean they’ve got a good start. And it’s just important to note that they’re working through a lot of ONPATTRO switches right now, right? So we’re really trying to understand how much market growth there is. As I said, this continues to be an underpenetrated marketplace, lots of patients that are still not identified, diagnosed or treated. And I think Alnylam is doing their job of getting most of their patients on to their next-generation silencer. And we have a lot of work to get new patients to just silencer therapy overall in this marketplace. So we expect it to grow readily. This is when you have a couple of players in the marketplace, it’s always a good thing for patients.

We’re looking forward to getting in, in January and starting to work. And as you — as I said earlier, we have a very exciting product profile, efficacy as well as the self-administration profile, which we believe will do very well in the market.

Operator: The next question comes from Allison Bratzel with Piper Sandler.