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Ionis Pharmaceuticals IONS Sapablursen — 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 $20 million milestone payment when Ono initiated a pivotal clinical trial for sapablursen 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 $15 million if the FDA accepts a New Drug Application, or NDA, filing for sapablursen in the U.S. From inception through June 30, 2026, we have received more than $305 million in payments from Ono.

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's sapablursen — revenue?
Ionis Pharmaceuticals (IONS) reported sapablursen — revenue of $20M in Q2 2026.
What does sapablursen — revenue mean?
This metric represents the net revenue recognized from the sale or licensing of the specific pharmaceutical product or therapeutic candidate identified as Sapablursen. It reflects the economic value generated from commercial activities or contractual arrangements, excluding any taxes collected from customers. This figure is a key indicator of the product's market adoption, commercial success, and contribution to the company's overall top-line performance.

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