IONIS PHARMACEUTICALS INC IONS

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

For three decades, we have invented medicines that bring better futures to people with serious diseases. As a pioneer in RNA-targeted medicines with a deep understanding of disease biology and an industry-leading drug discovery technology, we are driven to deliver innovative, life-changing advances for patients.

In the last year, we delivered on our strategy to create accelerating value for all our stakeholders. With two independent commercial launches now underway, we transitioned into a fully integrated commercial-stage biotechnology company. We currently have seven marketed medicines to treat serious diseases: TRYNGOLZA (olezarsen), DAWNZERA (donidalorsen), WAINUA (eplontersen), SPINRAZA (nusinersen), QALSODY (tofersen), TEGSEDI (inotersen) and WAYLIVRA (volanesorsen).

Last close 42.93 2026-10-23
Market cap $7.13B 2026-06-30 share count
52-week range 42.08 - 86.74

Valuation FY2025 figures against the last close

P/S7.6x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-2.38

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $943.7M$705.1M$787.6M$587.4M$810.5M$729.3M$1.12B$599.7M$514.2M$372.8M
Cost of revenue $15.9M$11.2M$9.1M$14.1M$10.8M$11.9M$4.4M$1.8M$0$0
Gross profit $927.8M$693.9M$778.5M$573.3M$799.6M$717.3M$1.12B$597.9M$514.2M$372.8M
R&D $915.6M$901.5M$899.6M—$638.2M$531.0M$461.5M$411.9M$372.5M$340.4M
SG&A $393.9M$267.5M$232.6M$150.3M$186.3M$354.3M$286.6M$244.6M$108.5M$48.6M
Total operating expenses $1.33B$1.18B$1.14B$997.6M$840.6M$901.3M$756.7M$661.0M$483.1M$392.9M
Operating income -$381.7M-$475.1M-$353.7M-$410.2M-$30.2M-$172.1M$365.9M-$61.4M$31.0M-$20.2M
Interest expense $17.3M$17.0M$12.7M$8.1M$9.3M$9.5M$12.4M$44.8M$44.8M$38.8M
Pre-tax income -$379.6M-$460.1M-$334.0M-$258.0M-$29.1M-$134.6M$338.8M-$76.2M-$16.8M-$57.5M
Income tax $1.8M$6.2M$32.3M$11.7M$551.0K$345.2M$51.5M$291.1M$6.0M$2.9M
Net income -$381.4M-$453.9M-$366.3M-$269.7M-$28.6M-$444.3M$278.1M$273.7M$346.0K-$60.4M
EPS, basic -2.38-3.04-2.56-1.90-0.20-3.182.002.090.15-0.50
EPS, diluted -2.38-3.04-2.56-1.90-0.20-3.181.902.070.15-0.50
Shares, diluted (wtd. avg.) 160.0M149.5M143.2M141.8M141.0M139.6M153.2M134.1M126.1M120.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $372.3M$242.1M$399.3M$276.5M$869.2M$397.7M$683.3M$278.8M$129.6M$84.7M
Short-term investments $2.31B$2.06B$1.93B$1.71B$1.25B$1.49B$1.82B$1.81B$893.1M$580.5M
Inventory $10.0M$12.5M$7.4M$22.0M$24.8M$22.0M$18.2M$8.6M$10.0M—
Total current assets $2.99B$2.62B$2.64B$2.20B$2.35B$2.13B$2.72B$2.21B$1.17B$797.9M
Property, plant and equipment $123.0M$94.3M$71.0M$74.3M$178.1M$181.1M$153.7M$132.2M$121.9M$92.8M
Other intangibles ————$29.0M$27.9M$25.7M$24.0M$22.0M$20.4M
Total assets $3.52B$3.00B$2.99B$2.53B$2.61B$2.39B$3.23B$2.67B$1.32B$912.5M
Accounts payable $28.1M$43.0M$26.0M$17.9M$11.9M$17.2M$16.1M$28.7M$24.9M$21.1M
Short-term debt $432.1M$165.0K$157.0K$151.0K——————
Total current liabilities $781.6M$309.3M$448.1M$311.6M$240.6M$598.9M$273.0M$280.3M$243.6M$133.8M
Long-term debt $1.33B$1.20B$1.24B$1.18B——————
Total liabilities $3.03B$2.42B$2.60B$1.96B$1.84B$1.65B$1.55B$1.48B$957.5M$812.9M
Retained earnings -$2.63B-$2.25B-$1.80B-$1.43B-$1.16B-$1.13B-$707.5M-$967.3M-$1.24B-$1.18B
Total equity $489.1M$588.4M$386.7M$572.9M$771.7M$743.3M$1.58B$1.10B$365.3M$39.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow -$268.6M-$500.9M-$307.5M-$274.4M$30.8M$35.9M$345.6M$602.9M$174.1M-$112.1M
Depreciation and amortisation $10.0M$9.6M$10.3M$14.3M$15.5M$13.4M$12.5M$10.7M$6.7M$7.5M
Stock-based compensation $133.9M$130.2M$105.8M$100.3M$120.7M$230.1M$146.6M$131.3M$86.0M$72.1M
Capital expenditure $51.4M$45.3M$23.8M$15.7M$12.0M$35.1M$30.9M$13.6M$34.8M$7.1M
Investing cash flow -$277.8M-$134.0M-$214.1M-$262.6M$194.9M$274.5M-$41.3M-$929.6M-$358.3M$56.6M
Financing cash flow $675.8M$478.1M$644.1M-$55.3M$245.9M-$596.6M$100.0M$475.9M$229.1M$11.4M
Buybacks ———$0$0$90.5M$34.4M$0$0—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001140361-26-016388.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B 1.5B Revenue, FY2016: 372.8M Gross profit, FY2016: 372.8M Net income, FY2016: -60.4M Revenue, FY2017: 514.2M Gross profit, FY2017: 514.2M Net income, FY2017: 346K Revenue, FY2018: 599.7M Gross profit, FY2018: 597.9M Net income, FY2018: 273.7M Revenue, FY2019: 1.1B Gross profit, FY2019: 1.1B Net income, FY2019: 278.1M Revenue, FY2020: 729.3M Gross profit, FY2020: 717.3M Net income, FY2020: -444.3M Revenue, FY2021: 810.5M Gross profit, FY2021: 799.6M Net income, FY2021: -28.6M Revenue, FY2022: 587.4M Gross profit, FY2022: 573.3M Net income, FY2022: -269.7M Revenue, FY2023: 787.6M Gross profit, FY2023: 778.5M Net income, FY2023: -366.3M Revenue, FY2024: 705.1M Gross profit, FY2024: 693.9M Net income, FY2024: -453.9M Revenue, FY2025: 943.7M Gross profit, FY2025: 927.8M Net income, FY2025: -381.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $372.8M $514.2M $599.7M $1.12B $729.3M $810.5M $587.4M $787.6M $705.1M $943.7M
Gross profit $372.8M $514.2M $597.9M $1.12B $717.3M $799.6M $573.3M $778.5M $693.9M $927.8M
Net income -$60.4M $346.0K $273.7M $278.1M -$444.3M -$28.6M -$269.7M -$366.3M -$453.9M -$381.4M

Recent filings and events

  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Other event Item 8.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Item 7.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Regulation FD disclosure Item 7.01
  • Other event Item 8.01
  • Other event Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 2834

TickerCompanyMarket capP/ERevenue growth
LLY ELI LILLY & Co $1.20T 55.5x 44.7%
JNJ JOHNSON & JOHNSON $635.76B 23.9x 6.0%
ABBV AbbVie Inc. $504.76B 121.0x 8.6%
MRK Merck & Co., Inc. $358.41B 20.0x 1.3%
ABT ABBOTT LABORATORIES $180.63B 27.9x 5.7%
PFE PFIZER INC $171.16B 22.1x -1.6%
VRTX VERTEX PHARMACEUTICALS INC / MA $132.80B 34.2x 8.9%
BMY BRISTOL MYERS SQUIBB CO $125.59B 17.8x -0.2%