Ionis Pharmaceuticals (IONS) has established its first independently commercialized neurology asset with the approval of Zanvastro for Alexander disease, Oppenheimer said in a Friday note.

The US Food and Drug Administration approval creates an infrastructure, a clinical network and a commercial foundation that can be leveraged for future central nervous system, or CNS, targeted drug launches, the firm said.

Oppenheimer said the approval also provides further validation of the company's CNS antisense drug development capabilities, while noting it provides favorable read-through for obudanersen, whose phase 3 study recently completed enrollment.

Oppenheimer maintained its outperform rating on Ionis Pharmaceuticals and $85 price target.

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