IONS
Ionis Pharmaceuticals, Inc.78.37
-1.39-1.74%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Conservative guidance; TRYNGOLZA resilient
Q&A framed Ionis' $800M-$825M 2026 revenue guidance conservatively, assuming standard olezarsen sNDA review with sHTG sales only in Q4 and TRYNGOLZA revenues declining mid-year from pricing adjustments—yet no demand erosion from new FCS rival. Management voiced even higher confidence in olezarsen's >$2B peak, backed by prescriber research. Priority review could unlock upside; zilganersen launch targets >$100M peak for ~300 US Alexander patients. CARDIO-TTRansform baseline balanced tafamidis users. No meaningful walk-backs. Investors track FDA timing, payer deals.
Key Stats
Market Cap
12.69BP/E (TTM)
-Basic EPS (TTM)
-1.61Dividend Yield
0%Recent Filings
8-K
Board veterans retire, Reikes rejoins
Ionis Pharmaceuticals announced board shakeup: veterans B. Lynne Parshall and Lead Independent Director Joseph H. Wender retire at term's end June 4, 2026, after 25+ and 32 years respectively. Peter N. Reikes rejoins that day, bringing FDA/ARPA-H advisory and biotech investment banking chops. Leadership refreshes for growth phase. Transitions orderly.
10-K
FY2025 results
Ionis posted $944M in FY2025 revenue, up from prior year, driven by $115M net product sales from new launches TRYNGOLZA ($108M) and DAWNZERA ($8M), plus $286M royalties (SPINRAZA $212M, WAINUA $49M) and $508M R&D from partners including $280M Ono sapablursen upfront. Yet operating expenses hit $1.3B amid launches and pipeline work, yielding a $381M net loss. Q4 momentum shone in independent TRYNGOLZA commercialization post-FDA FCS nod; cash swelled to $2.7B. Debt includes $770M 0% notes due 2030. Launches accelerate. Payer reimbursement stalls revenue.
8-K
Ionis beats 2025 revenue
Ionis reported 2025 revenue of $944 million, up 34% from $705 million, fueled by $108 million in TRYNGOLZA sales and $280 million sapablursen upfront. TRYNGOLZA sales jumped 56% to $50 million in Q4 while DAWNZERA added $7 million. Cash hit $2.7 billion. 2026 guides $800-825 million revenue, non-GAAP operating loss $500-550 million.
8-K
TRYNGOLZA hits $105M sales
Ionis Pharmaceuticals reported preliminary 2025 U.S. net product sales of $105 million for TRYNGOLZA, its first FDA-approved FCS treatment, beating expectations. TRYNGOLZA outperformed as a launch. The company raised peak sales guidance for olezarsen in sHTG to over $2 billion post-sNDA submission, with Phase 3 data showing up to 72% triglyceride cuts, amid 2026 catalysts like five Phase 3 readouts—yet results are unaudited and subject to adjustment.
8-K
GSK's bepirovirsen Phase 3 success
Ionis' partner GSK reported positive Phase 3 topline results from B-Well 1 and 2 studies on January 7, 2026, with bepirovirsen hitting its primary endpoint of statistically significant functional cure rates in over 1,800 chronic hepatitis B patients versus standard of care alone. Safety profile held acceptable. Bepirovirsen unlocks $150M in milestones and 10-12% royalties for Ionis. Regulatory filings start Q1 2026.
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