IONS - NASDAQ
Ionis Pharmaceuticals, Inc.
$73.82
+1.2%Ionis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults; and WAYLIVRA, a treatment for familial chylomicronemia syndrome and familial partial lipodystrophy. It also develops medicines for various indications that are in phase 3 study, including Eplontersen as a monthly self-administered subcutaneous injection to treat all types of TTR amyloidosis; Olezarsen for patients with severe hypertriglyceridemia (SHTG); Donidalorsen for patients with hereditary angioedema; ION363 for patients with amyotrophic lateral sclerosis; Pelacarsen for patients with established cardiovascular disease and elevated lipoprotein(a); and Tofersen to inhibit the production of superoxide dismutase 1. In addition, the company develops medicines for metabolic diseases, infectious diseases, renal diseases, ophthalmic diseases, and cancer. It has a strategic collaboration with Biogen Inc.; and collaboration and license agreement with AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis AG, Roche, Janssen Biotech, Inc., and Flamingo Therapeutics, Inc. Ionis Pharmaceuticals, Inc. was founded in 1989 and is based in Carlsbad, California.
At a Glance
Live SnapshotIonis Pharmaceuticals, Inc. Profit Bridge
Profitability Analysis
Gross Margin
Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.
Operating Margin
Operating losses indicate the core business is unprofitable. Requires restructuring or revenue growth.
Net Profit Margin
Net losses indicate the company is burning cash. Sustainability depends on path to profitability.
Profitability Insight
Margin squeeze alert: Healthy gross margins but weak operating margins suggest excessive operating expenses. Cost optimization could unlock significant value.
Ionis Pharmaceuticals, Inc. Income Statement
IONS • NASDAQ
| Ionis Pharmaceuticals, Inc. Income Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
REVENUE | ||||||||||||||||||||
944M | 705.1M | 787.6M | 587.4M | 810.5M | 729.3M | 1.1B | 599.7M | 514.2M | 372.8M | 283.7M | 214.2M | 147.3M | 102M | 99.1M | 108.5M | 121.6M | 107.2M | 58.3M | 14.9M | |
GROSS PROFIT | ||||||||||||||||||||
(16M) | (11.2M) | (9.1M) | (14.1M) | (10.8M) | (11.9M) | (4.4M) | (1.8M) | (0.0) | (0.0) | (322.3M) | (241.8M) | (184M) | (158.5M) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | |
928M | 693.9M | 778.5M | 573.3M | 799.6M | 717.3M | 1.1B | 597.9M | 514.2M | 372.8M | -38.6M | -27.6M | -36.7M | -56.4M | 99.1M | 108.5M | 121.6M | 107.2M | 0.0 | 0.0 | |
OPERATING INCOME | ||||||||||||||||||||
(1.3B) | (1.2B) | (1.1B) | (983.4M) | (829.8M) | (889.4M) | (752.3M) | (659.2M) | (483.1M) | (392.9M) | (37.2M) | (20.1M) | (14.9M) | (12.5M) | (170.2M) | (156.8M) | (149.1M) | (120.3M) | (91.3M) | (80.1M) | |
(394M) | (267.5M) | (232.6M) | (150.3M) | (170.9M) | (332.2M) | (286.6M) | (244.6M) | (108.5M) | (48.6M) | (37.2M) | (20.1M) | (14.9M) | (12.5M) | (12.8M) | (11.7M) | (14.5M) | (13.8M) | (13.1M) | (11.2M) | |
(916M) | (901.5M) | (899.6M) | (833M) | (643M) | (535M) | (466M) | (414.6M) | (374.6M) | (344.3M) | (322.3M) | (241.8M) | (184M) | (158.5M) | (157.4M) | (145.2M) | (134.6M) | (106.4M) | (92.6M) | (80.6M) | |
-382M | -475.1M | -353.7M | -410.2M | -30.2M | -172.1M | 365.9M | -61.4M | 31M | -20.2M | -75.8M | -47.7M | -51.7M | -68.9M | -71.1M | -48.4M | -27.5M | -13.1M | -32.9M | -65.2M | |
PRE-TAX INCOME | ||||||||||||||||||||
(73M) | (90.5M) | (81.5M) | (8.1M) | (9.3M) | (9.5M) | (48.8M) | (44.8M) | (44.8M) | (38.8M) | (36.7M) | (22.2M) | (19.4M) | (21.2M) | (16.7M) | (13.2M) | (12.7M) | (5.6M) | (7.6M) | (9M) | |
-73M | 16.6M | 7.6M | 17.2M | 695K | 21.1M | 3.4M | -14.6M | -36.6M | -33.4M | -32.4M | -19.5M | -17.3M | -19.3M | -14.3M | -9.9M | -6.3M | 5.7M | 3.9M | -3.1M | |
(0.0) | -26K | (19K) | (147K) | (15.9M) | (22.2M) | (0.0) | (0.0) | (0.0) | (0.0) | -322.3M | -241.8M | -184M | -158.5M | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -536K | |
2M | 15M | 19.8M | 152.2M | 1M | 37.5M | -27.1M | -14.8M | -47.8M | -37.3M | -12.1M | -6.7M | -14.9M | -5.7M | -13.7M | -12.8M | -4.2M | -1.5M | 32.9M | 65.2M | |
-380M | -460.1M | -334M | -258M | -29.1M | -134.6M | 338.8M | -76.2M | -16.8M | -57.5M | -87.9M | -54.4M | -66.6M | -74.6M | -84.8M | -61.2M | -31.8M | -14.5M | 0.0 | 0.0 | |
NET INCOME | ||||||||||||||||||||
(1M) | -6.2M | (32.3M) | (11.7M) | -551K | (345.2M) | (51.5M) | -291.1M | -6M | (2.9M) | (372K) | -15.4M | -5.9M | -9.1M | (11K) | (92K) | (3.2M) | (0.0) | (0.0) | (0.0) | |
-381M | -453.9M | -366.3M | -269.7M | -28.6M | -444.3M | 278.1M | 273.7M | 346K | -60.4M | -88.3M | -39M | -60.6M | -65.5M | -84.8M | -61.3M | 155.1M | -18.2M | -11M | -45.9M |
SEC Filings
IONS - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
8-K 8-K 2026 N/A | May 28, 2026 | May 28, 2026 | 2026 | |
10-Q 10-Q 2026 Q1 Q1 | April 29, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 29, 2026 | April 29, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | April 23, 2026 | June 04, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 21, 2026 | April 21, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 09, 2026 | March 03, 2026 | 2026 | |
10-K 10-K 2025 FY FY | February 26, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | February 25, 2026 | February 25, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 12, 2026 | January 12, 2026 | 2026 | |
8-K 8-K 2026 N/A | January 07, 2026 | January 07, 2026 | 2026 |
Related Guides
Continue your IONS research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.