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Ionis Pharmaceuticals IONS Ionis Operations — Medical Affairs Expenses

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Other financials

Income statement

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Revenue$267.9M-40.7%
Gross profit$265.2M-40.8%
Operating income-$102.3M-173%
Net income-$114.6M-193%
EPS (diluted)-$0.69-199%

Balance sheet

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Cash & equivalents$350.1M+17.7%
Total debt$262.5M-67.0%
Total equity$439.7M-30.4%
Total assets$3.0B+0.3%

Cash flow

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Operating cash flow-$792.8M-426%
CapEx$16.1M+30.7%
Free cash flow-$814.6M-399%

Valuation

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Market cap$9.01B+38.9%
Enterprise value$8.92B+27.7%
P/S10.3×+3.4×

Profitability

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Gross margin98.2%-0.7pp
Operating margin-68%-234pp
Net margin-64.7%-299pp
FCF margin-77.4%+35.3pp

Returns & leverage

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Return on equity-105.5%+336pp
Debt / equity0.6×-0.7×
Current ratio7.9×+5.0×

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept ions:MedicalAffairsExpenses.

The source filing: Ionis Pharmaceuticals’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:05 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000874015-26-000251
Line itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Cost of sales2,5633,5415,3984,904
Drug discovery29,12030,25557,67757,244
Drug development103,958117,689208,140230,635
Medical affairs11,3187,82621,30713,468
Manufacturing and development chemistry20,63921,54540,94735,826
R&D support26,97420,60749,40541,159
Selling, general and administrative130,07581,081262,012148,061
Other segment items (1)57,94845,95476,33075,750

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's ionis operations — medical affairs expenses?
Ionis Pharmaceuticals (IONS) reported ionis operations — medical affairs expenses of $11.32M in Q2 2026.
How has Ionis Pharmaceuticals's ionis operations — medical affairs expenses changed year-over-year?
Ionis Pharmaceuticals's ionis operations — medical affairs expenses increased by 44.6% year-over-year, from $7.83M to $11.32M.
What is the long-term trend for Ionis Pharmaceuticals's ionis operations — medical affairs expenses?
Over 3 years (2022 to 2025), Ionis Pharmaceuticals's ionis operations — medical affairs expenses has grown at a 26.1% compound annual growth rate (CAGR), from $15.95M to $32.01M.
What does ionis operations — medical affairs expenses mean?
These expenses relate to the activities of the medical affairs team, including medical education, scientific exchange with healthcare professionals, and support for clinical data dissemination. It reflects the company's effort to build scientific credibility and support the clinical utility of its products.

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