11:26 AM EDT, 09/02/2025 (MT Newswires) -- (Updates with recent stock movement in the headline and first paragraph.)

Ionis Pharmaceuticals ( IONS ) shares were up more than 33% in recent Tuesday trading after the company reported topline data from phase 3 studies of olezarsen, which showed that the drug candidate significantly reduced fasting triglycerides and acute pancreatitis events in patients with severe hypertriglyceridemia.

Results showed a "statistically significant" 72% placebo-adjusted mean reduction in fasting triglycerides and 85% reduction in acute pancreatitis events, the company said.

Olezarsen also showed a favorable safety and tolerability profile, according to Ionis.

The company said it plans to submit a supplemental new drug application to the US Food and Drug Administration by the end of 2025.

Price: 56.98, Change: +14.34, Percent Change: +33.63