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Ionis Pharmaceuticals IONS Ionis Operations — Drug Discovery 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:DrugDiscoveryExpenses.

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 discovery expenses?
Ionis Pharmaceuticals (IONS) reported ionis operations — drug discovery expenses of $28.56M in Q1 2026.
How has Ionis Pharmaceuticals's ionis operations — drug discovery expenses changed year-over-year?
Ionis Pharmaceuticals's ionis operations — drug discovery expenses increased by 5.8% year-over-year, from $26.99M to $28.56M.
What is the long-term trend for Ionis Pharmaceuticals's ionis operations — drug discovery expenses?
Over 3 years (2022 to 2025), Ionis Pharmaceuticals's ionis operations — drug discovery expenses has grown at a -11.6% compound annual growth rate (CAGR), from $181.3M to $125.16M.
What does ionis operations — drug discovery expenses mean?
Costs related to the early-stage research and identification of new drug candidates.
How do you interpret ionis operations — drug discovery expenses?
An increase reflects higher investment in future pipeline growth, while a decrease may signal a shift toward later-stage development.
How does ionis operations — drug discovery expenses compare across companies?
Comparable to early-stage R&D or discovery-phase research expenses at peer biotech firms.