# Ionis Pharmaceuticals Inc: overview

IONS · Nasdaq · CIK 874015 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ions.md) · [Financials](/companies/ions/financials.md) · [Filings](/companies/ions/filings.md) · [Insiders](/companies/ions/insiders.md)

Latest reported revenue: [$267.9m](/filings/0000874015-26-000251.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Jul 29, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0000874015-26-000251).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [134](/filings/0000874015-25-000266.md) | [227](/filings/0000874015-26-000115.md) | [132](/filings/0000874015-26-000177.md) | [452](/filings/0000874015-26-000251.md) | [157](/filings/0000874015-25-000266.md) | [203](/filings/0000874015-26-000115.md) | [246](/filings/0000874015-26-000177.md) | [268](/filings/0000874015-26-000251.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(111.1%)](/filings/0000874015-25-000266.md) | [(48.9%)](/filings/0000874015-26-000115.md) | [(111.6%)](/filings/0000874015-26-000177.md) | [30.9%](/filings/0000874015-26-000251.md) | [(102.2%)](/filings/0000874015-25-000266.md) | [(105.5%)](/filings/0000874015-26-000115.md) | [(47.7%)](/filings/0000874015-26-000177.md) | [(38.2%)](/filings/0000874015-26-000251.md) |
| Net margin | % | [(105.0%)](/filings/0000874015-25-000266.md) | [(46.1%)](/filings/0000874015-26-000115.md) | [(111.6%)](/filings/0000874015-26-000177.md) | [27.3%](/filings/0000874015-26-000251.md) | [(82.1%)](/filings/0000874015-25-000266.md) | [(112.8%)](/filings/0000874015-26-000115.md) | [(37.6%)](/filings/0000874015-26-000177.md) | [(42.8%)](/filings/0000874015-26-000251.md) |
| Diluted EPS | $ per share | [(0.95)](/filings/0000874015-25-000266.md) | [(0.66)](/filings/0000874015-26-000115.md) | [(0.93)](/filings/0000874015-26-000177.md) | [0.70](/filings/0000874015-26-000251.md) | [(0.80)](/filings/0000874015-25-000266.md) | [(1.41)](/filings/0000874015-26-000115.md) | [(0.56)](/filings/0000874015-26-000177.md) | [(0.69)](/filings/0000874015-26-000251.md) |
| Free cash flow | $m | [(124) d](/filings/0000874015-25-000266.md) | [(142) d](/filings/0000874015-26-000115.md) | [(163)](/filings/0000874015-26-000177.md) | [139 d](/filings/0000874015-26-000251.md) | [(137) d](/filings/0000874015-25-000266.md) | [(159) d](/filings/0000874015-26-000115.md) | [(815)](/filings/0000874015-26-000177.md) | [549 d](/filings/0000874015-26-000251.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [810](/filings/0000874015-24-000116.md) | [587](/filings/0000874015-25-000089.md) | [788](/filings/0000874015-26-000115.md) | [705](/filings/0000874015-26-000115.md) | [944](/filings/0000874015-26-000115.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(3.7%)](/filings/0000874015-24-000116.md) | [(69.8%)](/filings/0000874015-25-000089.md) | [(44.9%)](/filings/0000874015-26-000115.md) | [(67.4%)](/filings/0000874015-26-000115.md) | [(40.4%)](/filings/0000874015-26-000115.md) |
| Net margin | % | [(3.5%)](/filings/0000874015-24-000116.md) | [(45.9%)](/filings/0000874015-25-000089.md) | [(46.5%)](/filings/0000874015-26-000115.md) | [(64.4%)](/filings/0000874015-26-000115.md) | [(40.4%)](/filings/0000874015-26-000115.md) |
| Diluted EPS | $ per share | [(0.20)](/filings/0000874015-24-000116.md) | [(1.90)](/filings/0000874015-25-000089.md) | [(2.56)](/filings/0000874015-26-000115.md) | [(3.04)](/filings/0000874015-26-000115.md) | [(2.38)](/filings/0000874015-26-000115.md) |
| Free cash flow | $m | [18.8](/filings/0000874015-24-000116.md) | [(290)](/filings/0000874015-25-000089.md) | [(331)](/filings/0000874015-26-000115.md) | [(546)](/filings/0000874015-26-000115.md) | [(320)](/filings/0000874015-26-000115.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ions/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $1.95bn | 24,631,956 |  | Added +75,319 |
| [Capital World Investors](/funds/1422849.md) | 2026-06-30 | $1.72bn | 21,669,226 |  | Added +482,857 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $848.8m | 10,704,660 |  | Added +262,184 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $623.2m | 7,859,529 |  | Added +50,627 |
| [WELLINGTON MANAGEMENT GROUP LLP](/funds/902219.md) | 2026-06-30 | $606.7m | 7,651,415 |  | Added +1,259,599 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $571.8m | 7,211,497 |  | Added +93,167 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $495.7m | 6,252,342 |  | Added +394,713 |
| [ROYAL BANK OF CANADA](/funds/1000275.md) | 2026-06-30 | $490.2m | 6,182,479 |  | Added +2,380,664 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $343.7m | 4,334,848 |  | Added +339,284 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $294.8m | 3,584,024 |  | Reduced −400,308 |

## Recent filings

[All 2,060 filings](/companies/ions/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-23 | 13:41 ET | [8-K](/filings/0001140361-26-040631.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-040631 |
| 2026-10-21 | 20:15 ET | [8-K](/filings/0001140361-26-040388.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-040388 |
| 2026-09-23 | 10:03 ET | [8-K](/filings/0001140361-26-037371.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-037371 |
| 2026-09-04 | 21:00 ET | [8-K](/filings/0001140361-26-035802.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-035802 |
| 2026-09-04 | 10:01 ET | [8-K](/filings/0001140361-26-035657.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-035657 |
| 2026-07-29 | 21:05 ET | [10-Q](/filings/0000874015-26-000251.md) | Quarterly report, period 2026-06-30 | 0000874015-26-000251 |
| 2026-07-29 | 11:31 ET | [8-K](/filings/0001140361-26-029960.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001140361-26-029960 |
| 2026-07-10 | 01:03 ET | [8-K](/filings/0001140361-26-028154.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001140361-26-028154 |
| 2026-07-09 | 18:55 ET | [8-K](/filings/0001140361-26-028092.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-028092 |
| 2026-06-24 | 19:48 ET | [8-K](/filings/0001140361-26-026232.md) | 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001140361-26-026232 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0000874015-26-000115.md), filed Feb 26, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/593194b3-02a8-41b9-8ade-5296aec135ae)

## About the filer

- CIK: 874015
- Tickers: IONS
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: CA
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:26 ET. No prices; not investment advice.