Notable Market Movers: Dow Chemical Co (NYSE:DOW), Ionis Pharmaceuticals Inc (NASDAQ:IONS)

On Thursday, Shares of Dow Chemical Co (NYSE:DOW), added 0.52% and closed at $54.15 in the last trading session. The last trading range of the stock ranges between $53.60 and $54.33. Chromatin Inc., an agriculture technology company, has signed an exclusive license agreement for unique sorghum genetic stocks developed by Agrigenetics Inc., an associate of Dow AgroSciences LLC, a wholly owned partner of The Dow Chemical Company (DOW).

Under the license agreement, Chromatin is deploying Dow AgroSciences’ sorghum technology to launch new, market-leading products in multiple key sorghum markets outside of the United States. “Chromatin has assembled and developed the industry’s leading product pipeline for sorghum,” said Daphne Preuss, CEO, Chromatin. “The materials licensed from Dow AgroSciences add critically important genetic diversity and allow Chromatin to bring higher yielding crops to our international customers.”

Ionis Pharmaceuticals Inc (NASDAQ:IONS), jumped 6.70% and closed at $40.95 in the last trading session. The last trading range of the stock ranges between $38.61 and $43.00 The company’s Market capitalization is $6.04 Billion with the total Outstanding Shares of 121.20 million. Ionis Pharmaceuticals, Inc. (IONS) recently stated income from operations of $16.1 million and a loss from operations of $87.5 million for the three and nine months ended September 30, 2016, respectively.  The Company also stated pro forma operating income of $33.7 million and a pro forma net operating loss (NOL) of $30.5 million, both apart from non-cash stock compensation, for the same periods.  Ionis ended the third quarter with cash, cash equivalents and short term investments of $687.8 million.  The Company is on track to meet its pro forma NOL and cash guidance for the year.

“This week, we and Biogen declared positive data from an interim analysis of CHERISH, our Phase 3 study in children with later-onset (consistent with Type 2) spinal muscular atrophy (SMA).  We are very encouraged with the positive SPINRAZATM data from both of our controlled Phase 3 clinical trials supporting potential benefit not only in infants, but also in children with SMA.  We are happy that our partners at Biogen are already making SPINRAZA available to patients with SMA who have no therapeutic alternatives through a broad Expanded Access Program.  In about four weeks after Biogen filed for marketing approval for SPINRAZA, the FDA and the EMA each have accepted their respective application.  Importantly, the FDA has granted Priority Review and the EMA has granted Accelerated Assessment, both of which can reduce the standard review time.  We look forward to seeing SPINRAZA quickly and successfully advance through the regulatory review process so that it will be even more broadly available to SMA patients through commercial channels.  On the basis of these positive data, we will stop the CHERISH study and afford all patients in the study the opportunity to receive SPINRAZA in the ongoing open-label study, SHINE.  These data follow the positive results from ENDEAR, our Phase 3 study in infants with the most severe form of the disease, infantile-onset (consistent with Type 1) SMA, which formed the basis for the regulatory filings in the U.S. and E.U., and the filings in progress for other jurisdictions.

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