Ionis Pharmaceuticals Tumbles on Biogen's Miss: Buy or Sell?

Ionis Pharmaceuticals Tumbles on Biogen's Miss: Buy or Sell?

Ionis Pharmaceuticals (NASDAQ: IONS) lost 11% of its market value after commercialization partner Biogen (NASDAQ: BIIB) reported third-quarter sales of its drug, Spinraza, that failed to match industry watchers' forecasts. Is Ionis Pharmaceuticals' tumble a sign that investors should sell, or a buying opportunity?

Ionis Pharmaceuticals and Biogen are collaboration partners on Spinraza, a drug used to treat spinal muscular atrophy (SMA), a rare life-threatening disease.

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Source: Fool.com