Despite Losses, Guidance Raised... U.S. Biotech Stocks Gain $700 Million in a Day

Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) closed at $76 on the Nasdaq on the 29th, up 5.88%. Its market capitalization stands at approximately $12.5 billion, which—at an exchange rate of KRW 1,400 per dollar—equates to about KRW 17.5 trillion, marking a one-day increase of roughly $780 million (about KRW 1.1 trillion). Trading volume reached 2,922,099 shares.

The stock rise was driven by first-quarter results that significantly beat market expectations and by an upward revision to full-year guidance. Ionis reported Q1 revenue of $246 million, an over-80% year-over-year increase, and raised its 2026 revenue outlook to $875 million–$900 million. Strong sales of TRYNGOLZA and DAWNZERA, along with an upward adjustment to Olezarsen’s peak sales forecast, further bolstered pipeline expectations.

Founded in 1989 and headquartered in Carlsbad, California, Ionis Pharmaceuticals is a biotech company specializing in RNA-targeted therapies based on antisense oligonucleotide technology. It has grown through collaborations with major pharmaceutical companies on products such as Spinraza and is now pursuing a strategy to reduce partner dependence by expanding its own marketed portfolio in severe disease areas, including neurological, cardiovascular, and metabolic disorders.