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Ionis Pharmaceuticals IONS Ionis Operations — Drug Development Expenses

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Other financials

Income statement

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Revenue$246.1M+87.0%
Gross profit$243.1M+86.8%
Operating income-$117.4M+20.0%
Net income-$92.5M+37.0%
EPS (diluted)-$0.56+39.8%

Balance sheet

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Cash & equivalents$173.4M-34.4%
Total debt$691.7M+334%
Total equity$491.4M+3.3%
Total assets$3.4B+22.6%

Cash flow

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Operating cash flow-$792.8M-426%
CapEx$21.8M+73.0%
Free cash flow-$814.6M-399%

Valuation

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Market cap$12.25B+159%
Enterprise value$12.77B+175%
P/S11.6×+5.0×

Profitability

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Gross margin98.4%-0.2pp
Operating margin-33.3%-11.0pp
Net margin-30.9%-10.5pp
FCF margin-77.4%+35.3pp

Returns & leverage

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Return on equity-67.6%-20.3pp
Debt / equity1.4×+1.1×
Current ratio4.1×-5.6×

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept ions:DrugDevelopmentExpenses.

The official record: Ionis Pharmaceuticals’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ionis Pharmaceuticals's ionis operations — drug development expenses?
Ionis Pharmaceuticals (IONS) reported ionis operations — drug development expenses of $104.18M in Q1 2026.
How has Ionis Pharmaceuticals's ionis operations — drug development expenses changed year-over-year?
Ionis Pharmaceuticals's ionis operations — drug development expenses decreased by 7.8% year-over-year, from $112.95M to $104.18M.
What is the long-term trend for Ionis Pharmaceuticals's ionis operations — drug development expenses?
Over 3 years (2022 to 2025), Ionis Pharmaceuticals's ionis operations — drug development expenses has grown at a 4.5% compound annual growth rate (CAGR), from $426.23M to $486.2M.
What does ionis operations — drug development expenses mean?
Costs incurred for clinical trials and regulatory activities to advance drug candidates.
How do you interpret ionis operations — drug development expenses?
Higher spending typically indicates an active, late-stage clinical pipeline, while lower spending may indicate pipeline maturity or prioritization.
How does ionis operations — drug development expenses compare across companies?
Comparable to clinical development or late-stage R&D expenses at other pharmaceutical companies.