IONIS PHARMACEUTICALS INC

For the period ended Mar 31, 2025. Filed Apr 30, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2025 · Filed Apr 30, 2025

IONS$28.19-9.1%Stored close · as of Nov 10, 2026

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Condensed Consolidated Statements of Operations

(in thousands, except for per share amounts)

	Three Months Ended March 31,
	2025	2024
Revenue:
Commercial revenue:
Product sales, net	$6,287	$—
Royalty revenue	64,166	49,385
Other commercial revenue	5,715	10,208
Total commercial revenue	76,168	59,593
Research and development revenue:
Collaborative agreement revenue	45,031	49,345
WAINUA joint development revenue	10,413	10,559
Total research and development revenue	55,444	59,904
Total revenue	131,612	119,497
Expenses:
Cost of sales	1,463	2,151
Research, development and patent	200,759	214,215
Selling, general and administrative	76,250	52,644
Total operating expenses	278,472	269,010
Loss from operations	(146,860)	(149,513)
Other income (expense):
Investment income	24,667	26,285
Interest expense	(4,108)	(4,151)
Interest expense related to sale of future royalties	(18,822)	(17,959)
Gain (loss) on investments	(2,164)	2,333
Other income	465	277
Loss before income tax expense	(146,822)	(142,728)
Income tax expense	(116)	(75)
Net loss	$(146,938)	$(142,803)
Basic and diluted net loss per share	$(0.93)	$(0.98)
Shares used in computing basic and diluted net loss per share	158,735	145,538

Index

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