IONIS PHARMACEUTICALS INC
For the period ended Dec 31, 2025. Filed Feb 26, 2026.
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.
FY2025 · Filed Feb 26, 2026
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, | |||||
|---|---|---|---|---|---|
| 2025 · 2024 · 2023 | |||||
| Operating activities: | |||||
| Net loss | $(381,387) | $(453,897) | $(366,286) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | |||||
| Depreciation | 10,008 | 9,614 | 10,292 | ||
| Amortization of right-of-use operating lease assets | 10,247 | 10,040 | 9,647 | ||
| Amortization of other assets | 2,439 | 2,336 | 2,559 | ||
| Amortization of discount on investments, net | (23,735) | (37,733) | (28,885) | ||
| Amortization of debt issuance costs | 6,908 | 6,690 | 6,330 | ||
| Non-cash royalty revenue related to sale of royalties | (52,452) | (44,981) | (44,628) | ||
| Non-cash interest related to sale of future royalties | 72,671 | 72,846 | 68,238 | ||
| Stock-based compensation expense | 133,874 | 130,200 | 105,809 | ||
| Gain on early retirement of debt | - | - | (13,389) | ||
| Inducement expense related to early retirement of debt | 16,344 | - | - | ||
| Non-cash losses (gains) related to disposal of property, plant and equipment | (3,991) | 7,404 | 16,649 | ||
| Loss (gain) on investments, net | (9,280) | 2,892 | 1,589 | ||
| Non-cash losses related to other assets | 986 | 3,032 | 1,822 | ||
| Changes in operating assets and liabilities: | |||||
| Contracts receivable | 26,129 | 5,590 | (72,059) | ||
| Inventories | (13,674) | (5,071) | (2,469) | ||
| Other current and long-term assets | (33,212) | (25,857) | (33,763) | ||
| Accounts payable | (15,360) | 15,990 | 8,119 | ||
| Income taxes | 2,679 | (2,117) | (4,098) | ||
| Accrued compensation | 46,622 | 1,887 | 18,549 | ||
| Accrued liabilities and other liabilities | 5,332 | (42,993) | (5,506) | ||
| Deferred contract revenue | (69,731) | (156,819) | 13,967 | ||
| Net cash used in operating activities | (268,583) | (500,947) | (307,513) | ||
| Investing activities: | |||||
| Purchases of short-term investments | (1,918,562) | (1,852,858) | (1,770,814) | ||
| Proceeds from sale of short-term investments | 1,697,870 | 1,769,172 | 1,584,676 | ||
| Purchases of property, plant and equipment | (51,444) | (45,280) | (23,805) | ||
| Acquisition of licenses and other assets, net | (5,640) | (5,061) | (4,184) | ||
| Net cash used in investing activities | (277,776) | (134,027) | (214,127) | ||
| Financing activities: | |||||
| Proceeds from issuance of common stock through equity plans, net | 192,604 | 33,609 | 49,442 | ||
| Proceeds from issuance of common stock in public offering, net | - | 489,120 | - | ||
| Proceeds from issuance of 0 percent convertible senior notes due 2030 | 770,000 | - | - | ||
| 0 percent convertible senior notes due 2030 issuance costs | (18,949) | - | - | ||
| Repurchase of $200 million principal amount of 0 percent convertible senior notes due 2026 | (267,640) | - | - | ||
| Repayment of 0.125 percent convertible senior notes due 2024 | - | (44,504) | (487,943) | ||
| Proceeds from issuance of 1.75 percent convertible senior notes due 2028 | - | - | 575,000 | ||
| 1.75 percent convertible senior notes due 2028 issuance costs | - | - | (14,175) | ||
| Proceeds from sale of future royalties | - | - | 500,000 | ||
| Payments of transaction costs related to sale of future royalties | - | - | (10,434) | ||
| Proceeds from real estate transaction | - | - | 32,352 | ||
| Principal payments on mortgage debt | (175) | (167) | (160) | ||
| Net cash provided by financing activities | 675,840 | 478,058 | 644,082 | ||
| Effects of exchange rates on cash | 702 | (273) | 352 | ||
| Net increase (decrease) in cash and cash equivalents | 130,183 | (157,189) | 122,794 | ||
| Cash and cash equivalents at beginning of year | 242,077 | 399,266 | 276,472 | ||
| Cash and cash equivalents at end of year | $372,260 | $242,077 | $399,266 | ||
| Supplemental disclosures of cash flow information: | |||||
| Interest paid | $10,782 | $10,869 | $6,512 | ||
| Income taxes paid (refunds received), net | $(639) | $(5,620) | $48,334 | ||
| Supplemental disclosures of non-cash investing and financing activities: | |||||
| Right-of-use assets obtained in exchange for lease obligations | $86,939 | $ | - | $ | - |
| Amounts accrued for capital and patent expenditures | $478 | $947 | $172 | ||
| Inducement related to repurchase of 0 percent convertible senior notes due 2026 | $51,673 | $ | - | $ | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.