Ionis Pharmaceuticals, Inc. logo

Ionis Pharmaceuticals, Inc.

IONS

NASDAQHealthcareBiotechnology

Previous close

$59.74

+$0.98 · +1.67%

Aug 21, 4:00 PM ET

Pre-market

$60.50

+$0.76 · +1.27%

Aug 24, 8:32 AM ET

IONS company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

77

Undervalued

Momentum

31

Weakening

Sentiment

67

Bullish

Risk resilience

51

Elevated Risk

Full GoAI research

Thesis, catalysts, evidence, and risk analysis.

View full GoAI research

AI-generated, informational only, and not investment advice.

Company profile

Company website

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.

Industry
Biotechnology
Sector
Healthcare
Headquarters
US
CEO
Brett Monia
Listed since
May 17, 1991
Employees
1,480

Market position

Day range

Current $59.74

52-week range

Current $59.74

Open
$59.64
Previous close
$58.76
Volume
2.72M
1.06× average
Average volume
2.58M
Average daily volume
Market cap
9.93B USD
Beta
0.4
Market reference 1
50-day average
$64.0176
-6.68% below average
200-day average
$73.99
-19.26% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-17.27×
P/B (TTM)
22.47×
P/S (TTM)
11.36×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
98.16%
Operating margin
-68.09%
Net margin
-64.64%

Financial health

Debt / equity
5.5×
Altman Z-score
1.61
Piotroski F-score
2 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends116%48%-19%-87%Gross margin, FY2021: 98.66%Gross margin, FY2022: 97.60%Gross margin, FY2023: 98.84%Gross margin, FY2024: 98.41%Gross margin, FY2025: 98.31%Operating margin, FY2021: -3.72%Operating margin, FY2022: -69.84%Operating margin, FY2023: -44.91%Operating margin, FY2024: -67.37%Operating margin, FY2025: -40.47%Net margin, FY2021: -3.53%Net margin, FY2022: -45.92%Net margin, FY2023: -46.50%Net margin, FY2024: -64.37%Net margin, FY2025: -40.36%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 98.66%. Gross margin FY2022 97.60%. Gross margin FY2023 98.84%. Gross margin FY2024 98.41%. Gross margin FY2025 98.31%. Operating margin FY2021 -3.72%. Operating margin FY2022 -69.84%. Operating margin FY2023 -44.91%. Operating margin FY2024 -67.37%. Operating margin FY2025 -40.47%. Net margin FY2021 -3.53%. Net margin FY2022 -45.92%. Net margin FY2023 -46.50%. Net margin FY2024 -64.37%. Net margin FY2025 -40.36%.

Income trends

Revenue

944M USD+33.87%

Operating income

−382M USD+19.59%

Net income

−381M USD+16.06%
Income trends across reported periods1.09B USD518.28M USD−49.36M USD−616.99M USDRevenue, FY2021: 810.46M USDRevenue, FY2022: 587.37M USDRevenue, FY2023: 787.65M USDRevenue, FY2024: 705.14M USDRevenue, FY2025: 944M USDOperating income, FY2021: −30.19M USDOperating income, FY2022: −410.19M USDOperating income, FY2023: −353.73M USDOperating income, FY2024: −475.08M USDOperating income, FY2025: −382M USDNet income, FY2021: −28.6M USDNet income, FY2022: −269.72M USDNet income, FY2023: −366.29M USDNet income, FY2024: −453.9M USDNet income, FY2025: −381M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 810.46M USD. Revenue FY2022 587.37M USD. Revenue FY2023 787.65M USD. Revenue FY2024 705.14M USD. Revenue FY2025 944M USD. Operating income FY2021 −30.19M USD. Operating income FY2022 −410.19M USD. Operating income FY2023 −353.73M USD. Operating income FY2024 −475.08M USD. Operating income FY2025 −382M USD. Net income FY2021 −28.6M USD. Net income FY2022 −269.72M USD. Net income FY2023 −366.29M USD. Net income FY2024 −453.9M USD. Net income FY2025 −381M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue944M USD705.14M USD787.65M USD587.37M USD810.46M USD
Cost of goods sold16M USD11.22M USD9.13M USD14.12M USD10.84M USD
Gross profit928M USD693.92M USD778.51M USD573.25M USD799.61M USD
Research and development916M USD901.53M USD899.63M USD833M USD643M USD
Selling, general, and administrative394M USD267.5M USD232.6M USD150.3M USD170.9M USD
Operating expenses1.31B USD1.17B USD1.13B USD983.44M USD829.8M USD
Interest income97.77M USD107.02M USD89.04M USD25.33M USD10.04M USD
Interest expense90.54M USD90.45M USD81.46M USD8.12M USD9.35M USD
Depreciation and amortization20.26M USD21.99M USD22.5M USD22.11M USD19.56M USD
Operating income−382M USD−475.08M USD−353.73M USD−410.19M USD−30.19M USD
Net income−381M USD−453.9M USD−366.29M USD−269.72M USD−28.6M USD

Company facts updated Aug 24, 2026.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Rating distribution

33 ratings
Strong buy13%
Buy1855%
Hold1442%
Sell00%
Strong sell00%

IONS peers

Continue in GoAI

Research IONS

research.disclaimer