On June 26, Ionis Pharmaceuticals rose 5.32% in regular trading, trading at $81.335/share, with turnover of approximately $75.61 million. The stock gained momentum following the announcement of a global licensing agreement for its Alexander disease drug Zilganersen.

On the news front, Ionis disclosed that it has licensed ex-US rights to investigational Alexander disease treatment Zilganersen to Recordati, while retaining US commercialization rights. Under the deal, Ionis will receive $30 million upfront and is eligible for milestone payments and royalties reaching the mid-20% range on annual net sales. Recordati will handle regulatory filings and commercialization outside the US, while Ionis continues leading global development.

The agreement follows a series of positive catalysts for the drug. Zilganersen previously met its primary endpoint in a pivotal study, demonstrating statistically significant stabilization of gait speed in patients aged five and older. The FDA granted priority review designation with a PDUFA target action date of September 22. The dual-track strategy of independent US launch combined with ex-US partnership is expected to maximize the drug's commercial value in the rare disease space.

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