On October 7, Ionis Pharmaceuticals rose 5.89% Overnight, trading at $46.59 per share, with turnover of $28,900.

The movement was driven by news that sefaxersen, an investigational drug co-developed with Roche, met its primary endpoint in the Phase 3 IMAgINATION trial for adults with primary IgA nephropathy. Data at week 37 showed sefaxersen achieved a statistically significant and clinically meaningful reduction in proteinuria compared with placebo, with a safety profile consistent with prior studies.

The study will continue to evaluate changes in kidney function over two years, with estimated glomerular filtration rate at week 105 as the key endpoint. This marks the second positive Phase 3 readout for Ionis in recent weeks, following ulefnersen's success in ALS, highlighting continued pipeline momentum across multiple programs.

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