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What's in a Name? Ask Isis Pharmaceuticals, Which is Becoming Ionis

by CNBC /
Image: al Qaeda is losing the ideological battle with ISIS
In a clear sign that al Qaeda is losing the ideological battle with ISIS, online forums once aligned with al Qaeda — including Osama bin Laden’s favorite chat room — have switched allegiance to the more violent Islamic State, experts say. AP, file

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Isis Pharmaceuticals on Friday announced that it will change its name to Ionis Pharmaceuticals.

The company's shares, which now trade on the Nasdaq under the ticker "ISIS," will trade under the new ticker symbol "IONS." The new ticker symbol will become effective on Tuesday.

Ionis Pharmaceuticals did not mention the so-called Islamic State, the terror group also known as ISIS.

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"Our goal is to create medicines that will save patients' lives, and we are proud to be at the forefront of creating innovative medicines," CEO Lynne Parshall said in a statement. "We decided to change our company name because, when people see or hear our name, we want them to think about the life-saving medicines we are developing."

The company is also changing its website address.

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