Ionis completes pivotal cohort enrollment in REVEAL study

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Reviewed by
Jubin VScanX News Team
Key Highlights

Ionis Pharmaceuticals, Inc. has completed enrollment in the pivotal cohort of the global Phase 3 REVEAL study evaluating obudanersen (ION582) for Angelman syndrome. The study enrolled 136 participants aged 2 to < 18 years, with the adult cohort expected to finish enrollment in Q3 2026. Topline data is anticipated in the second half of 2027.

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Ionis Pharmaceuticals, Inc. has completed enrollment in the pivotal cohort of the global Phase 3 REVEAL study evaluating obudanersen (ION582) for Angelman syndrome. The study targets a potential disease-modifying treatment for a condition with no approved medicines. Topline data from the REVEAL study is anticipated in the second half of 2027.

The pivotal cohort, Cohort 1, enrolled 136 participants aged 2 to < 18 years with a confirmed clinical diagnosis of Angelman syndrome and genetic confirmation of either a UBE3A deletion or UBE3A mutation. The adult cohort, Cohort 2, comprises participants aged 18 to ≤ 50 years and is expected to complete enrollment in the third quarter of 2026.

Study Design and Endpoints

REVEAL (NCT06914609) is a global, randomized, double-blind, controlled Phase 3 study designed to enroll approximately 158 individuals. The study is divided into two cohorts based on age groups.

Cohort Age Group Purpose
Cohort 1 (Pivotal) 2 to < 18 years Evaluation of primary and secondary endpoints
Cohort 2 (Adult) 18 to ≤ 50 years Additional evaluation

The primary endpoint is improvement in expressive communication as assessed by the Bayley Scales for Infant and Toddler Development-4 (Bayley-4). Secondary endpoints include overall disease severity, cognition, communication, sleep, motor functioning, and daily living skills.

Regulatory Status and Future Plans

Obudanersen has received Orphan Drug designation from the U.S. Food and Drug Administration (FDA) and European Medicines Agency (EMA). The FDA has also granted Fast Track and Rare Pediatric designations for the treatment of Angelman syndrome.

Ionis plans to advance obudanersen into the Phase 3 CHAMPION study to evaluate the medicine in people with Angelman syndrome who have uniparental disomy (UPD) or imprinting defect (ID) genotypes. The CHAMPION study is on track to initiate before the end of 2026.

How will the interim data from the adult cohort influence the regulatory strategy ahead of the 2027 topline results?

What potential market share could obudanersen capture if it becomes the first FDA-approved treatment for Angelman syndrome?

How might the success of the CHAMPION study expand the addressable patient population for obudanersen?

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Analysts raise targets for Ionis Pharmaceuticals

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Reviewed by
Radhika SScanX News Team
Key Highlights

HC Wainwright & Co. and Leerink Partners have raised their price targets for Ionis Pharmaceuticals to $130 and $129, respectively, while maintaining Buy and Outperform ratings. Goldman Sachs also increased its target to $75 from $74 while keeping a Neutral rating.

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HC Wainwright & Co., Leerink Partners, and Goldman Sachs have revised their price targets for Ionis Pharmaceuticals, reflecting varied perspectives on the company's valuation and market performance. HC Wainwright analyst Mitchell S. Kapoor maintained a Buy rating and increased the target to $130 from $125. Separately, Leerink Partners analyst Mani Foroohar kept an Outperform rating and lifted the target to $129 from $122. Goldman Sachs analyst Salveen Richter maintained a Neutral rating and raised the price target to $75 from $74.

Rating and Target Details

The revised targets suggest potential upside from current trading levels, though ratings vary by firm. The following table summarizes the updates:

Analyst Firm Rating Previous Target New Target
Mitchell S. Kapoor HC Wainwright & Co. Buy $125 $130
Mani Foroohar Leerink Partners Outperform $122 $129
Salveen Richter Goldman Sachs Neutral $74 $75

What upcoming clinical milestones could drive further divergence in analyst price targets?

How might the current market volatility impact Ionis' ability to meet these revised targets?

Will other firms adjust their ratings following these target revisions?

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