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AKCEA THERAPEUTICS, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Aug 5, 2020. Its latest SEC filing is a SC 13G/A from Nov 10, 2020.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Commercialized TEGSEDI and WAYLIVRA for patients with serious and rare diseases, while developing additional medicines for those conditions.

How Did They Make Money?

Product revenue came from medicine sales to distributors when title passed, and customers generally paid on invoice. Pharmaceutical partners paid license fees when options were exercised and could owe milestones and royalties tied to development, approvals and sales.

FY2019 revenue

Who Were Their Customers?

U.S. TEGSEDI sales went to a third-party logistics company, which supplied specialty pharmacies and distributors. In Europe, logistics providers distributed medicines to hospitals and pharmacies.

Did Revenues Turn Into Profits?

Yes. It kept 8 cents of every revenue dollar as net income in FY2019 and turned 45 cents into free cash flow.

Operating income, FY2019
8% of revenue
▲ Now profitable vs FY2018 (−$230.8M, −356%)
Net income, FY2019
8% of revenue
▲ Now profitable vs FY2018 (−$225.8M, −348%)
Free cash flow, FY2019
45% of revenue
▲ Now profitable vs FY2018 (−$204M, −315%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q2 FY2020, the three months to Jun 30, 2020
Revenue
▼ −16%
vs $26.6M in Q2 FY2019
  • Oct 13, 2020 Ionis completed its acquisition of Akcea Akcea became a wholly owned Ionis subsidiary, and its shares were delisted.

Who Did They Compete With?

Competes with Alnylam, Pfizer, Eidos, NeuroBo Pharmaceuticals, Amryt Pharma, Arrowhead Pharmaceuticals, Amgen, and Regeneron Pharmaceuticals

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