IONIS PHARMACEUTICALS INC

For the period ended Mar 31, 2026. Filed Apr 29, 2026.

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, 2026 · Filed Apr 29, 2026

IONS$31.00-21.4%Stored close · as of Nov 9, 2026

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Condensed Consolidated Statements of Operations

(in thousands, except per share amounts)

	Three Months Ended
	March 31,
	2026	2025
Revenue:
Commercial revenue:
Product sales, net	$42,955	$6,287
Royalty revenue	58,323	64,166
Other commercial revenue	6,532	5,715
Total commercial revenue	107,810	76,168
Research and development revenue:
Collaborative agreement revenue	120,660	45,031
WAINUA joint development revenue	17,621	10,413
Total research and development revenue	138,281	55,444
Total revenue	246,091	131,612
Expenses:
Cost of sales	2,983	1,463
Research, development and patent	210,173	200,759
Selling, general and administrative	150,359	76,250
Total operating expenses	363,515	278,472
Loss from operations	(117,424)	(146,860)
Other income (expense):
Investment income	25,484	24,667
Interest expense	(5,160)	(4,108)
Interest expense related to sale of future royalties	(17,337)	(18,822)
Gain (loss) on investments, net	22,583	(2,164)
Other income (expense), net	(456)	465
Loss before income tax expense	(92,310)	(146,822)
Income tax expense	(218)	(116)
Net loss	$(92,528)	$(146,938)
Basic and diluted net loss per share	$(0.56)	$(0.93)
Shares used in computing basic and diluted net loss per share	164,874	158,735

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