Carlsbad drugmaker Ionis Pharmaceuticals reported a wider-than-expected fourth quarter loss, according to a recent earnings statement.
The company reported a $71.4 million net loss on revenues of $51.6 million for the fourth quarter of 2015, compared with a net income of $31.1 million on revenues of $84.9 million in the same period the prior year.
Ionis also reported full year results, with a $88.3 million net loss on revenues of $283.7 million in 2015, compared with a net loss of $39 million on revenues of $214.2 million in 2014.
Ionis' increased net loss for 2015 compared to 2014 was primarily due to the increased expenses related to advancing Ionis' large pipeline, according to a company statement.
Ionis, which is developing dozens drugs with its antisense technology, is currently partnered with several large pharmaceutical companies, including AstraZeneca, Bayer and Biogen.