Carlsbad drugmaker Ionis Pharmaceuticals Inc. has received $75 million from its partner Biogen following news of positive Phase 3 data for its spinal muscular atrophy drug called Nusinersen.
The drug, meant to treat the leading cause of infantile death worldwide, could potentially bring in $2 billion in revenue by 2022, according to analysts.
Ionis could receive royalties from those sales in the mid-teens, as well as $150 million in milestone payments from Biogen if everything pans out. This is in addition to the $75 million license fee that Biogen just paid Ionis, of course.
Ionis shares (Nasdaq: IONS) have surged nearly 30 percent since the announcement.