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Ionis Pharmaceuticals IONS Liability Related To Sale Of Future Royalties Net

Discontinued — last reported Q4 '25

Liability Related To Sale Of Future Royalties Net at other companies

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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:LiabilityRelatedToSaleOfFutureRoyaltiesNet.

The official record: Ionis Pharmaceuticals’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ionis Pharmaceuticals's liability related to sale of future royalties net?
Ionis Pharmaceuticals (IONS) reported liability related to sale of future royalties net of $551.35M in Q4 2025.
How has Ionis Pharmaceuticals's liability related to sale of future royalties net changed year-over-year?
Ionis Pharmaceuticals's liability related to sale of future royalties net increased by 1.7% year-over-year, from $542.21M to $551.35M.
What does liability related to sale of future royalties net mean?
The net debt obligation created by selling future royalty income for immediate cash.
How do you interpret liability related to sale of future royalties net?
A decrease indicates the company is successfully paying down its royalty-based financing obligations.
How does liability related to sale of future royalties net compare across companies?
Common in biotech and pharma companies that monetize drug assets to fund ongoing development.