Ionis shares sink after Tryngolza sales forecast is cut in half
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Ionis Pharmaceuticals lost more than $1 billion in market value on Monday after cutting its year-end sales outlook for triglyceride-lowering drug Tryngolza to $50 million from $100–110 million. Third-quarter Tryngolza sales were $9 million, well below Wall Street’s $21 million consensus. Shares fell about 25%, from above $39 at the open to below $28 within hours.
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