IONS
Company Description
Founded in 1989 and headquartered in Carlsbad, California, Ionis Pharmaceuticals, Inc. is a biopharmaceutical company specializing in the discovery and development of RNA-targeted therapies within the United States. Its commercial portfolio includes three key medications: SPINRAZA, prescribed for spinal muscular atrophy (SMA) in both children and adults; TEGSEDI, an injectable treatment targeting polyneuropathy associated with hereditary transthyretin-mediated amyloidosis in adult patients; and WAYLIVRA, which addresses familial chylomicronemia syndrome and familial partial lipodystrophy. Ionis also maintains a robust pipeline, with several drug candidates currently in Phase 3 clinical trials. These include Eplontersen, a monthly self-administered subcutaneous injection designed for all forms of TTR amyloidosis; Olezarsen, intended for individuals with severe hypertriglyceridemia (SHTG); Donidalorsen, for patients suffering from hereditary angioedema; ION363, aimed at amyotrophic lateral sclerosis (ALS); Pelacarsen, developed for those with established cardiovascular disease and elevated lipoprotein(a); and Tofersen, which works by inhibiting the production of superoxide dismutase 1. Beyond these late-stage assets, the company is actively researching treatments for metabolic, infectious, renal, and ophthalmic diseases, as well as various types of cancer. The firm engages in significant collaborations, notably a strategic partnership with Biogen Inc. Additionally, it holds licensing and collaboration agreements with AstraZeneca, Bayer AG, GlaxoSmithKline plc, Novartis AG, Roche, Janssen Biotech, Inc., and Flamingo Therapeutics, Inc.
Track Record
| Metric | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 944.00M | 705.14M | 787.65M | 587.37M | 810.46M | 729.26M | 1.12B | 599.67M | 514.18M | 372.78M | 283.70M | 214.16M |
| Net Income | (381.00M) | (453.90M) | (366.29M) | (269.72M) | (28.60M) | (444.26M) | 278.14M | 273.74M | 346,000 | (60.40M) | (88.28M) | (38.98M) |
| EPS | -2.38 | -3.04 | -2.56 | -1.90 | -0.20 | -3.18 | 2.10 | 2.07 | -0.05 | -0.72 | -0.74 | -0.33 |
| Free Cash Flow | (320.03M) | (546.23M) | (335.52M) | (294.47M) | 12.90M | (5.16M) | 309.44M | 585.24M | 136.29M | (123.63M) | 9.38M | (4.82M) |
| FCF / Share | -2.00 | -3.65 | -2.35 | -2.08 | 0.09 | -0.04 | 2.21 | 4.42 | 1.10 | -1.02 | 0.08 | -0.04 |
| Operating CF | (268.58M) | (500.95M) | (307.51M) | (274.37M) | 30.80M | 35.89M | 345.72M | 602.89M | 174.15M | (112.11M) | 21.12M | 6.29M |
| Total Assets | 3.52B | 3.00B | 2.99B | 2.53B | 2.61B | 2.39B | 3.23B | 2.67B | 1.32B | 912.47M | 947.90M | 955.81M |
| Total Debt | 2.61B | 1.42B | 1.45B | 1.37B | 1.25B | 908.93M | 771.98M | 641.81M | 594.50M | 574.05M | 470.62M | 450.11M |
| Cash & Equiv | 372.26M | 242.08M | 399.27M | 276.47M | 869.19M | 397.66M | 683.29M | 278.82M | 129.63M | 84.69M | 128.80M | 143.00M |
| Book Value | 489.09M | 588.35M | 386.69M | 572.89M | 771.74M | 743.28M | 1.47B | 1.05B | 281.01M | 99.56M | 200.79M | 257.78M |
| Return on Equity | -0.78 | -0.77 | -0.95 | -0.47 | -0.04 | -0.60 | 0.19 | 0.26 | 0.00 | -0.61 | -0.44 | -0.15 |
| Metric | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 246.09M | 203.00M | 156.72M | 452.05M | 131.61M | 226.58M | 133.81M | 225.25M | 119.50M | 324.50M | 144.21M | 188.41M |
| Net Income | (92.53M) | (229.00M) | (128.61M) | 123.55M | (146.94M) | (104.35M) | (140.48M) | (66.27M) | (142.80M) | (9.26M) | (147.41M) | (85.29M) |
| EPS | -0.56 | -1.41 | -0.80 | 0.78 | -0.93 | -0.66 | -0.95 | -0.45 | -0.98 | -0.06 | -1.03 | -0.59 |
| Free Cash Flow | (814.58M) | (159.00M) | (134.74M) | 137.07M | (163.35M) | (141.64M) | (124.05M) | (140.14M) | (155.67M) | 33.68M | (112.26M) | (110.44M) |
| FCF / Share | -4.94 | -0.98 | -0.84 | 0.86 | -1.03 | -0.90 | -0.83 | -0.96 | -1.07 | 0.23 | -0.78 | -0.77 |
| Operating CF | (792.82M) | (137.71M) | (131.44M) | 151.34M | (150.78M) | (116.14M) | (114.99M) | (119.88M) | (149.94M) | 32.87M | (109.02M) | (97.36M) |
| Total Assets | 3.45B | 3.52B | 3.03B | 2.99B | 2.81B | 3.00B | 3.08B | 2.69B | 2.76B | 2.99B | 2.93B | 2.97B |
| Total Debt | 2.04B | 2.61B | 1.49B | 1.42B | 1.96B | 1.42B | 1.45B | 1.44B | 1.44B | 1.45B | 1.97B | 1.49B |
| Cash & Equiv | 173.38M | 372.26M | 338.34M | 297.30M | 264.19M | 242.08M | 334.61M | 293.99M | 348.89M | 399.27M | 352.06M | 424.79M |
| Book Value | 491.41M | 489.09M | 617.97M | 631.72M | 475.73M | 588.35M | 662.47M | 263.70M | 296.51M | 386.69M | 315.46M | 428.30M |
| Return on Equity | -0.19 | -0.47 | -0.21 | 0.20 | -0.31 | -0.18 | -0.21 | -0.25 | -0.48 | -0.02 | -0.47 | -0.20 |