IONIS PHARMACEUTICALS INC
For the period ended Dec 31, 2023. Filed Feb 21, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 21, 2024
IONS$28.19-9.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Operating activities: | |||
| Net loss | $(366,286) | $(269,722) | $(28,597) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Depreciation | 10,292 | 14,328 | 15,487 |
| Amortization of right-of-use operating lease assets | 9,647 | 5,362 | 1,721 |
| Amortization of other assets | 2,559 | 2,415 | 2,352 |
| Amortization of premium (discount) on investments, net | (28,885) | 7,389 | 17,776 |
| Amortization of debt issuance costs | 6,330 | 5,373 | 4,958 |
| Non-cash royalty revenue related to sale of royalties | (44,628) | — | — |
| Non-cash interest related to sale of future royalties | 68,238 | — | — |
| Stock-based compensation expense | 105,809 | 100,264 | 120,678 |
| Loss (gain) on early retirement of debt | (13,389) | — | 8,627 |
| Non-cash losses related to disposal of property, plant and equipment | 16,649 | 531 | — |
| Loss (gain) on sale of real estate assets | 161 | (150,135) | — |
| Loss (gain) on investments | 1,589 | 224 | (1,092) |
| Non-cash losses related to other assets | 1,661 | 2,030 | 2,707 |
| Changes in operating assets and liabilities: | |||
| Contracts receivable | (72,059) | 36,358 | 14,308 |
| Inventories | (6,392) | 2,773 | (2,841) |
| Other current and long-term assets | (29,840) | (24,682) | (877) |
| Accounts payable | 8,119 | 1,094 | (6,000) |
| Income taxes | (4,098) | 6,213 | (280) |
| Accrued compensation | 18,549 | 10,368 | (26,918) |
| Accrued liabilities and other current liabilities | (5,506) | 46,695 | (8,381) |
| Deferred contract revenue | 13,967 | (71,248) | (82,829) |
| Net cash provided by (used in) operating activities | (307,513) | (274,370) | 30,799 |
| Investing activities: | |||
| Purchases of short-term investments | (1,770,814) | (1,485,772) | (1,124,193) |
| Proceeds from sale of short-term investments | 1,584,676 | 989,152 | 1,344,185 |
| Purchases of property, plant and equipment | (23,805) | (15,721) | (11,955) |
| Proceeds from sale of real estate assets | 22 | 254,083 | — |
| Acquisition of licenses and other assets, net | (4,206) | (4,378) | (5,946) |
| Purchases of strategic investments | — | — | (7,185) |
| Net cash provided by (used in) investing activities | (214,127) | (262,636) | 194,906 |
| Financing activities: | |||
| Proceeds from equity, net | 49,442 | 6,373 | 11,565 |
| Payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options | — | (10,953) | (16,725) |
| Proceeds from issuance of 1.75 percent convertible senior notes | 575,000 | — | — |
| 1.75 percent convertible senior notes issuance costs | (14,175) | — | — |
| Repurchase of $504.4 million principal amount of 0.125 percent convertible senior notes | (487,943) | — | — |
| Proceeds from sale of future royalties | 500,000 | — | — |
| Payments of transaction costs related to sale of future royalties | (10,434) | (29) | — |
| Proceeds from real estate transaction | 32,352 | — | — |
| Proceeds from the issuance of 0 percent convertible senior notes | — | — | 632,500 |
| 0 percent convertible senior notes issuance costs | — | — | (15,609) |
| Repurchase of $247.9 million principal amount of 1 percent convertible senior notes | — | — | (256,963) |
| Repayment of remaining principal amount of 1 percent convertible senior notes at maturity | — | — | (61,967) |
| Proceeds from issuance of warrants | — | — | 89,752 |
| Purchase of note hedges | — | — | (136,620) |
| Principal payments on debt | (160) | (50,686) | — |
| Net cash provided by (used in) financing activities | 644,082 | (55,295) | 245,933 |
| Effects of exchange rates on cash | 352 | (418) | (111) |
| Net increase (decrease) in cash and cash equivalents | 122,794 | (592,719) | 471,527 |
| Cash and cash equivalents at beginning of year | 276,472 | 869,191 | 397,664 |
| Cash and cash equivalents at end of year | $399,266 | $276,472 | $869,191 |
| Supplemental disclosures of cash flow information: | |||
|---|---|---|---|
| Interest paid | $6,512 | $2,898 | $4,778 |
| Income taxes paid | $48,334 | $5,010 | $38 |
| Supplemental disclosures of non-cash investing and financing activities: | |||
| Right-of-use assets obtained in exchange for lease liabilities | $— | $168,931 | $6,641 |
| Amounts accrued for capital and patent expenditures | $172 | $4,767 | $705 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.