Ionis Pharmaceuticals Inc

IONS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$82.00	Fwqslp	Wcjmbxsrx

Ionis Is Building a Larger Neurology and Cardiology Portfolio to Support Its Narrow Moat

Karen Andersen

Aug 2, 2024

Business Strategy and Outlook

Ionis is a leader in RNA-based therapies, and its spinal muscular atrophy drug Spinraza, marketed by partner Biogen, is the first RNA-based therapy to achieve blockbuster status. The firm's antisense oligonucleotide, or ASO, technology faces strong competition from RNA interference technology emerging from Alnylam, Arrowhead, and Novo Nordisk (Dicerna), as well as gene editing and gene therapy pipelines at multiple firms. However, Ionis has built a massive pipeline of promising new drugs that are rapidly moving toward the market, securing a narrow moat.

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