March 13, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Ionis Pharmaceuticals Inc (NASDAQ:IONS) shares over potential securities laws violations by Ionis Pharmaceuticals Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Ionis Pharmaceuticals Inc (NASDAQ:IONS) concerning whether a series of statements by Ionis Pharmaceuticals Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Ionis Pharmaceuticals, Inc., formerly Isis Pharmaceuticals, Inc., is engaged in discovering and developing ribonucleic acid-targeted (RNA-targeted) therapeutics.

Ionis Pharmaceuticals Inc reported that its annual Total Revenue rose from $283.70 million in 2015 to $346.62 million in 2016 and that its Net Loss declined from $88.28 million in 2015 to $86.56 million in 2016.

On March 6, 2017, Ionis Pharmaceuticals Incs subsidiary Akcea Therapeutics revealed data from a Phase 3 study of volanesorsen, its experimental therapy for familial chylomicronemia syndrome. Akcea Therapeutics announced that 10 of the 66 patients that were involved in the study have discontinued treatment. Half of the patients who discontinued the therapy cited injection site reactions, and the other half discontinued due to platelet declines. Ionis Pharmaceuticals Inc reported 8 serious adverse events associated with volanesorsen.

Shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) declined on March 10, 2017 to as low as $39.85 per share.