Ionis Pharmaceuticals, Inc.
NASDAQ•IONS
CEO: Dr. Brett P. Monia Ph.D.
Sector: Healthcare
Industry: Biotechnology
Listing Date: 1991-05-17
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 antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) 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 ATTR; Olezarsen for patients with FCS and severe hypertriglyceridemia (SHTG); Donidalorsen for patients with hereditary angioedema; ION363 for patients with amyotrophic lateral sclerosis; Tofersen to inhibit the production of superoxide dismutase 1; Pelacarsen for patients with established cardiovascular disease and elevated lipoprotein(a); and Bepirovirsen to inhibit the production of viral proteins associated with hepatitis B virus. In addition, the company develops IONIS-FB-LRx to inhibit the production of complement factor B and the alternative complement pathway; and ION224 to reduce the production of diacylglycerol acyltransferase 2. It has a strategic collaboration with Biogen for the treatment of neurological disorders; and collaboration and license agreement with Metagenomi, Inc, AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis, Roche, Swedish Orphan Biovitrum AB, and PTC Therapeutics. The company was incorporated in 1989 and is based in Carlsbad, California.
Contact Information
Market Cap
$11.95B
P/E (TTM)
-30.8
17.5
Dividend Yield
--
52W High
$86.74
52W Low
$23.95
52W Range
Rank52Top 73.5%
2.9
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Weak • 2.9 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2016-2025
Financial Dashboard
Q4 2025 Data
Revenue
$203.00M+0.00%
4-Quarter Trend
EPS
-$1.41+0.00%
4-Quarter Trend
FCF
-$159.00M+0.00%
4-Quarter Trend
2025 Annual Earnings Highlights
Key Highlights
Revenue Growth Strong Commercial Sales Total revenue reached $943.7M, up 33.8% from $705.1M in 2024, driven by new product sales.
Net Loss Significantly Reduced Net loss narrowed to $381.4M, an improvement of $72.5M compared to the $453.9M loss reported in 2024.
Commercial Revenue Surges Commercial revenue grew 49% to $435.8M, primarily fueled by $107.5M in TRYNGOLZA net product sales.
Strong Cash Position Maintained Cash and short-term investments ended 2025 at $2.7B, providing strong funding for wholly owned pipeline advancement.
Risk Factors
Limited Commercialization Experience Company has limited experience commercializing medicines; infrastructure buildout failure risks revenue generation potential.
Market Acceptance and Reimbursement Success depends on payer acceptance; inadequate coverage or reimbursement rates limit ability to sell medicines profitably.
Partner Performance Dependency Reliance on partners like Biogen and AstraZeneca; partner failure to fund or perform development obligations causes delays.
Intellectual Property Litigation Risk Ongoing patent infringement dispute with Arrowhead requires significant expense and distracts management resources.
Outlook
Two Independent Launches Planned Positioned to launch Olezarsen (sHTG) and Zilganersen (AxD) independently in 2026, assuming regulatory approval.
Pipeline Advancement Continues Advanced Obudanersen into Phase 3 study for Angelman syndrome during 2025, supporting late-stage pipeline.
Next-Generation Technology Progress Advanced first program using MsPA backbone into clinical development, leveraging new technology enhancements.
Commercial Platform Expansion Continuing to refine portfolio strategy and build field sales teams to support upcoming independent commercial launches.
Peer Comparison
Revenue (TTM)
$11.24B
$3.25B
$3.22B
Gross Margin (Latest Quarter)
96.1%
95.6%
92.4%
Key Metrics
Symbol | Market Cap | P/E (TTM) | ROE (TTM) | Debt to Assets |
|---|---|---|---|---|
| MRNA | $21.09B | -7.4 | -30.1% | 15.5% |
| ROIV | $20.43B | -24.6 | -18.3% | 4.0% |
| EXAS | $19.71B | -94.2 | -8.5% | 43.0% |
Long-Term Trends
Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
15.5%
Strong Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention
Deep Research
Next earnings:Apr 28, 2026
EPS:-
|Revenue:-
Financials
Earnings Calls
Reports
News
Income Statement
Balance Sheet
Cash Flow Statement
Ratios
% Chg.
Income Statement | LTM |
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