September 10, 2024 4:32pm

Priced at $43.50 of 11.5 M shares 

IONS closed up +$1.44 or +3.07 M to $48.03 with a negative -$5.94 to $42.39 on Tuesday

Check-out debt versus cash (below)

Morgan Stanley and Goldman Sachs & Co. LLC are acting as joint book-running managers for the offering


The Bottom Line: Needy, the money as cash position versus debt is high!

  • Q2/24 Net loss: -$66 M and a -$0.45 loss per share
  • 52-week high of $54.44 and low of $35.96
  • Outstanding shares: 146.21 M and a Float of 144.96
  • Shares short: 9.9 M with a short ratio of float -8.01%
  • Cash $2.09 B with Debt of -$1.99 B
  • Revenue $813.46 M (Q2/24 $225.0m (up 19% from 2Q 2023)

 

The usual …

  • intent to grant the underwriters a 30-day option to purchase up to an additional 1.75 M shares or approximateely $75 M of shares of its common stock offered in the public offering on the same terms and conditions.
  • IONS intends to use the net proceeds from the offering to fund its independent commercial launches, late-stage clinical programs, earlier pipeline programs, and research and development activities, as well as for working capital and general corporate purposes.
  • The offering is subject to market and other conditions
  • Expected to close on 9/11/24