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Ionis Pharmaceuticals IONS Salanersen — Revenue

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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 us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

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

In the second quarter of 2026, we earned a $45 million milestone payment when Biogen initiated a Phase 3 trial of salanersen for SMA under this collaboration. We recognized this milestone payment as R&D revenue in full in the second quarter of 2026 because we did not have any remaining performance obligations related to the milestone payment. We will achieve the next payment of $55 million if Biogen achieves approval in a major market, which includes the U.S., Japan, the United Kingdom, Germany, France, Italy and Spain. From inception through June 30, 2026, we have received $130 million in payments under this collaboration.

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's salanersen — revenue?
Ionis Pharmaceuticals (IONS) reported salanersen — revenue of $45M in Q2 2026.
What does salanersen — revenue mean?
This metric represents the total revenue recognized from contracts with customers specifically attributed to the Salanersen product line, excluding any sales-related taxes. It reflects the realized commercial value or licensing income generated by this specific therapeutic asset during the reporting period. This is a primary indicator of the product's market adoption and commercial performance.

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