Ionis shares jump after drug lowers blood fat levels in advanced trials

Sept 2 (Reuters) - Ionis Pharmaceuticals' IONS.O shares surged on Tuesday before the bell after the drugmaker said its experimental treatment significantly reduced levels of blood fats called triglycerides and reduced pancreatitis risk in two large late-stage studies.

Shares of the Carlsbad-based company were up about 17% in premarket trading.

Ionis plans to seek approval for the drug, called olezarsen, in the U.S. by year-end.

The drugmaker was testing olezarsen in two trials with nearly 1,100 patients combined who had severe hypertriglyceridemia, a condition where fat levels in the blood are too high, raising the risk of heart disease and pancreatitis.

The drug cut triglyceride levels by up to 72% compared with placebo.

RBC Capital Markets analyst Luca Issi called the results "splashier-than-expected."

The drug reduced acute pancreatitis events by 85%, marking the first time any treatment has achieved statistically significant reduction of risk in people with severely high triglycerides.

Olezarsen is already approved by the U.S. Food and Drug Administration to treat familial chylomicronemia syndrome, a rare genetic disorder that prevents the body from breaking down fats and leads to extremely high triglyceride levels.