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AKCA - Akcea: Uninteresting Slow Growth Stock With Long-Term Potential
Akcea Therapeutics Inc.
Akcea Therapeutics (AKCA) is a $1.5bn company with $421mn in cash reserves and very little debt. The company is a spin-off from the lipid pipeline of the much bigger Ionis Pharmaceuticals (IONS), which owns 76% of the outstanding AKCA stock. It has two approved drugs with a steady small stream of revenue, two others in pivotal phase and a long-tailed pipeline of drugs using mRNA-targeted antisense therapeutics. Akcea has licensing deals with Novartis (NVS) and Pfizer (PFE) as well as a 50-50 revenue breakup with Ionis, so the company is