Ionis ready to spin out Akcea; IPO announced at $12 - 14/share

|About: Akcea Therapeutics (AKCA)|By:, SA News Editor

Ionis Pharmaceuticals (NASDAQ:IONS) subsidiary Akcea Therapeutics (Pending:AKCA) launches its initial public offering of 9.62M shares of common stock at $12 - 14. Underwriters over-allotment is an additional 1.443M shares.

The late-stage biopharmaceutical firm develops antisense drugs to treat patients with serious cardiometabolic diseases caused by lipid disorders. Its most advanced candidate is Phase 3-stage volanesorsen for the treatment of familial chylomicronemia syndrome and familial partial lipodystrophy, both rare inherited lipid disorders characterized by extremely elevated triglycerides.

2016 Financials (NYSE:M): Operating Expenses: 83.5 (+36.0%); Net Loss: (83.2) (-35.5%).

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