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Operating CF
Total Assets
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D/E Ratio
Dilution Watch
Financials
52W LOW $42.6352W HIGH $86.74
Volume
3.35 M
Value Traded
136.80 M
Short % Float
12.82%
-0.55%Week
-22.71%1 Month
-25.67%3 Month
-42.4%6 Month
+105.77%5 Year
+655.6%All Time
Cash Data
- Monthly Burn
- Burn Trend
- Dilution Risk
- SEC Filing
Key Stats
Market Cap
7.20 B
EPS (TTM)
-3.40
P/E Ratio
-
Ent. Value
5.14 B
Total Shares
166.18 M
Float Shares
162.92 M
Insiders
1.96%
Institutions
107.84%
Upcoming Catalysts
FDA decisions, readouts and PDUFA dates · scored by probability of approval
PoA blends historical approval base rates, trial design score and FDA review track record.
IONS Catalyst Timeline
Dated clinical, regulatory and corporate events for Ionis Pharmaceuticals, Inc.
Catalyst Timeline
Dated clinical, regulatory & corporate events for Ionis Pharmaceuticals, Inc.
441Total events
19Upcoming
193Tier-1 (high impact)
2018 to 2027Coverage
Upcoming catalysts 2
Event history 50
▲Primary Endpoint MetSefaxersenClinical Data
IMAgINATION met primary endpoint with statistically significant proteinuria reduction vs placebo at 37 weeks
IgA nephropathy (IgAN)source ↗
▲Interim AnalysisSefaxersenTrial
Positive prespecified interim results from Phase 3 IMAgINATION study in IgAN
IgA nephropathy (IgAN)source ↗
▲Safety Data UpdateSefaxersenClinical Data
Safety and tolerability consistent with previously reported data; no new safety signals
IgA nephropathy (IgAN)source ↗
▲Topline ReadoutulefnersenClinical Data
Positive topline results from Phase 3 FUSION trial of ulefnersen in FUS-ALS
FUS-ALSsource ↗
▲Primary Endpoint MetulefnersenClinical Data
FUSION trial met primary endpoint of functional impairment and survival (p=0.0005)
FUS-ALSsource ↗
▲Secondary Endpoint DataulefnersenClinical Data
Statistically significant improvements across key secondary endpoints including serum NfL and time to death/permanent ventilation
FUS-ALSsource ↗
▲Safety Data UpdateulefnersenClinical Data
Ulefnersen demonstrated favorable safety and tolerability profile in FUSION
FUS-ALSsource ↗
▼Primary Endpoint MissedPelacarsenClinical Data
Lp(a)HORIZON Phase 3 topline results did not meet primary endpoint
elevated Lp(a) and established cardiovascular diseasesource ↗
▲FDA ApprovalZANVASTROApprovedFDA Decision
FDA approved ZANVASTRO for Alexander disease
Alexander disease (AxD)source ↗
▲PRV GrantedZANVASTROApprovedDesignation
FDA granted Rare Pediatric Disease Priority Review Voucher
Alexander disease (AxD)source ↗
▲Product LaunchZANVASTROApprovedPost-Market
ZANVASTRO available in U.S. in coming weeks
Alexander disease (AxD)source ↗
▲FDA ApprovalHibsagoApprovedFDA Decision
Hibsago (bepirovirsen) approved in Japan as functional cure for chronic hepatitis B
chronic hepatitis Bsource ↗
◆Oral PresentationOlezarsenApprovedPresentation
CORE-OLE results to be presented at ESC Congress
severe hypertriglyceridemiasource ↗
◆Oral PresentationION775Presentation
Phase 1 results of ION775 to be presented at ESC
hypertriglyceridemiasource ↗
◆Oral PresentationEplontersenApprovedPresentation
Presentations of CARDIO-TTRansform Phase 3 data for eplontersen at ESC Congress 2026
transthyretin-mediated amyloid cardiomyopathy (ATTR-CM)source ↗
◆Oral PresentationOlezarsenApprovedPresentation
CORE-OLE results to be presented at ESC Congress
severe hypertriglyceridemiasource ↗
▲Enrollment CompleteobudanersenTrial
Completed enrollment in Phase 3 REVEAL trial
Angelman syndromesource ↗
▼Primary Endpoint MissedEplontersenApprovedClinical Data
CARDIO-TTRansform missed primary composite endpoint
ATTR-CMsource ↗
▲Partnership / LicensezilganersenApprovedCorporate
License agreement with Recordati for ex-U.S. rights to zilganersen
Alexander diseasesource ↗
▲Breakthrough Therapy DesignationSalanersenDesignation
Breakthrough Therapy Designation for salanersen
spinal muscular atrophysource ↗
●Trial InitiationSalanersenTrial
Salanersen entered Phase 3 development
spinal muscular atrophysource ↗
●EU MAA SubmissionOlezarsenApprovedEx-US Regulatory
sHTG marketing application under review in EU
sHTGsource ↗
▲FDA ApprovalDonidalorsenApprovedFDA Decision
EU approval of DAWNZERA (donidalorsen)
hereditary angioedema (HAE)source ↗
▲Priority ReviewBepirovirsenFiledRegulatory Filing
Priority Review granted for bepirovirsen in US
chronic hepatitis Bsource ↗
▲Topline ReadoutIONIS-MAPTRxClinical Data
Phase 2 CELIA study demonstrated benefit
Alzheimer's diseasesource ↗
◆Oral PresentationIONIS-MAPTRxPresentation
Phase 2 CELIA data presented at AAIC 2026
early Alzheimer's diseasesource ↗
▲First Patient DosedION337Trial
First participant dosed in Phase 1-2 ASCEND study of ION337 in Dravet syndrome
Dravet syndromesource ↗
▼Primary Endpoint MissedEplontersenApprovedClinical Data
CARDIO-TTRansform Phase 3 trial did not meet primary efficacy endpoint
transthyretin-mediated amyloid cardiomyopathysource ↗
▲Enrollment CompleteobudanersenTrial
Completed enrollment in pivotal cohort (Cohort 1) of Phase 3 REVEAL study
Angelman syndromesource ↗
◆Enrollment CompleteobudanersenTrial
Expected completion of enrollment in adult cohort (Cohort 2) of Phase 3 REVEAL study
Angelman syndromesource ↗
◆Enrollment UpdateobudanersenTrial
Adult cohort (Cohort 2) enrollment expected to complete in Q3 2026
Angelman syndromesource ↗
▲Partnership / LicensezilganersenApprovedCorporate
License agreement with Recordati for zilganersen in Alexander disease (AxD) in all countries outside the U.S.
Alexander disease (AxD)source ↗
▲FDA ApprovalOlezarsenApprovedFDA Decision
FDA approval of TRYNGOLZA (olezarsen) for sHTG
severe hypertriglyceridemiasource ↗
◆Management ChangeCorporate
Lynne Parshall and Joseph Wender to retire from Board of Directors at end of term
▲FDA ApprovalOlezarsenApprovedFDA Decision
FDA approval of TRYNGOLZA for sHTG
severe hypertriglyceridemia (sHTG)source ↗
▲Product LaunchOlezarsenApprovedPost-Market
US launch of TRYNGOLZA for sHTG
severe hypertriglyceridemiasource ↗
▲Partnership / LicensezilganersenApprovedCorporate
License agreement with Recordati for ex-U.S. rights
Alexander disease (AxD)source ↗
▲Full ResultsBepirovirsenFiledClinical Data
Pooled B-Well 1 and B-Well 2 topline results: 19% functional cure rate vs 0% placebo
chronic hepatitis Bsource ↗
●Oral PresentationBepirovirsenFiledPresentation
Presented at EASL congress
chronic hepatitis Bsource ↗
●PublicationBepirovirsenFiledPresentation
Published in New England Journal of Medicine
chronic hepatitis Bsource ↗
▲Priority ReviewBepirovirsenFiledRegulatory Filing
Under priority review by FDA
chronic hepatitis Bsource ↗
●EU MAA SubmissionBepirovirsenFiledEx-US Regulatory
Under review by European regulatory authorities
chronic hepatitis Bsource ↗
●PMDA MilestoneBepirovirsenFiledEx-US Regulatory
Under review by Japanese regulatory authorities with SENKU designation
chronic hepatitis Bsource ↗
●NMPA NDA ApprovalBepirovirsenFiledEx-US Regulatory
Under review by Chinese regulatory authorities with Breakthrough Therapy and Priority Review designation
chronic hepatitis Bsource ↗
▲Topline ReadoutIONIS-MAPTRxClinical Data
Topline results from Phase 2 CELIA study of diranersen (BIIB080) show reduction in tau pathology and cognitive benefit
early Alzheimer's diseasesource ↗
Past FDA Catalysts and PDUFA Decisions
How IONS actually traded into and out of each decision
| Date | Drug | Catalyst | Stage | Reaction | Event Move % | Best Trade % |
|---|---|---|---|---|---|---|
| 2026-09-03 | zilganersen | PDUFA Date Approved | PDUFA |
Reaction: 30 trading days around the event · Event Move: close to close on decision day · Best Trade: peak run-up from entry 10 days before the decision
Drug Pipeline Intelligence
B78 / 100
Pipeline Score
$10.8B
Pipeline Value
$3.5B
Commercial Value
Undervalued
Valuation Signal
39
Drugs Scored
3.0x
rNPV / MCap
Top 3%
Small Cap(rank 21 of 658)
Percentile Rank
Ionis Pharmaceuticals, Inc. holds a solid B-grade pipeline (78/100), with $16.7B risk-adjusted pipeline value, led by ISIS 416858 in End-stage Renal Disease (ESRD) (Phase 2).
Commercial products (revenue basis: trailing 4 quarters of total revenue (10-Q), to Jun 2026; product lines from the latest annual filing) Revenue $874.1M x 4.1 = $3.5B
| Product | Revenue | Prior period | Change |
|---|---|---|---|
| TRYNGOLZA | $108M | - | - |
| DAWNZERA | $8M | - | - |
| Drug | Indication | Phase | PTRS | rNPV | Status | Enroll | Velocity | Design | Est. Completion | ML Signal | Last Change |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ISIS 416858 Small moleculeCompletedNCT02553889 | End-stage Renal Disease (ESRD) | Phase 2 | COMPLETED | 262 | Nov 1, 2016 |
Clinical Trial Results
Readouts, endpoints and source filings for every IONS program
| Drug Name | Indication | Phase | Date | Trial Results Summary | Title | Source |
|---|---|---|---|---|---|---|
| sefaxersen | IgA nephropathy | Phase 3 | 2026-09-23 | statistically significant and clinically meaningful reductions in proteinuria versus placebo at 37 weeksRead More | Ionis announces positive interim data from partner Roche’s Phase 3 IMAgINATION study in IgA nephropathy (IgAN)Read More |
Inside Trades
| Insider | Side | Shares | Price | Value | Date |
|---|---|---|---|---|---|
| Hayden Michael RDirector | Buy | 5,000 24,000 held | $51.60 | 07/31/2026 |
Hedge Fund 13F Activity
Hedge Funds invested in IONS
| Fund | % of Portfolio | Current MV | Shares Owned | Activity |
|---|---|---|---|---|
| Deep Track Capital, LP | 2.5 % (4.2 %) | 174.44 M | 2.20 M | 12.82% ( 250.00 K) |
IONS Institutional Ownership Trends
Options Data
Option Volume
Open Interest
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Put OI
Put-Call Ratio
OI 30-day avg
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Option Volume
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| Expiry | Call Vol | Put Vol | Vol P/C | Call OI | Put OI | OI P/C | IV Call | IV Call OI-Wtd | IV Call Vol-Wtd | IV Put | IV Put OI-Wtd | IV Put Vol-Wtd |
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| 2026-10-16 | ||||||||||||
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| Last | Vol | OI | Last | Vol | OI | |
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Calls vs Puts by Expiry
CallsPutsLog scale
Competitive positioning
How IONS ranks across every disease it competes in
Competitive Position is a premium feature
See how IONS ranks against every competitor across each disease it develops in: phase, best drug, trials and likelihood of approval.
Start free trialIONS News
IONSIonis announces positive interim data from partner Roche’s Phase 3 IMAgINATION study in IgA nephropathy (IgAN)
Ionis Pharmaceuticals and Roche reported positive interim results from the Phase 3 IMAgINATION study of sefaxersen in adults with IgA nephropathy. The investigational treatment achieved significant improvements in proteinuria reduction compared to placebo at 37 weeks. This marks a successful milestone for the ongoing clinical trial.
Read more →IONSIonis announces positive topline results from Phase 3 FUSION study of ulefnersen marking significant milestone in advancing first potential disease modifying treatment for FUS-ALS
Ionis Pharmaceuticals announced positive topline results from the Phase 3 FUSION trial of ulefnersen, an investigational treatment for FUS-ALS. The study met its primary endpoint, showing significant improvements in functional impairment and survival. Ulefnersen is the first treatment targeting the genetic cause of FUS-ALS, with plans for expedited regulatory submissions to the FDA.
Read more →IONSIonis partner Novartis announces Lp(a)HORIZON Phase 3 topline results for pelacarsen in patients with elevated Lp(a) and established cardiovascular disease (CVD)
Ionis Pharmaceuticals' partner Novartis reported that the pelacarsen Phase 3 Lp(a)HORIZON study failed to achieve its primary goal of reducing cardiovascular event risks. The study aimed to evaluate the drug's effectiveness in patients with elevated Lp(a) and established cardiovascular disease but did not show significant benefits compared to placebo. This outcome is consistent with previous research findings.
Read more →IONSZANVASTRO™ (zilganersen) approved by the FDA as the first and only disease modifying treatment for Alexander disease (AxD) in pediatric and adult patients
Ionis Pharmaceuticals has received FDA approval for ZANVASTRO (zilganersen), the first disease-modifying treatment for Alexander disease (AxD) in both pediatric and adult patients. This approval represents a significant advancement in the management of this ultra-rare and progressive neurological disorder, which has previously lacked effective treatment options.
Read more →IONS▼ -5.2%on this newsshared move
Ionis to present at upcoming investor conferences
Ionis Pharmaceuticals has announced its participation in two upcoming investor conferences. The management will engage in fireside chats at the 21st Annual Wells Fargo Healthcare Conference and the Morgan Stanley 24th Annual Global Healthcare Conference. Live webcasts of these presentations will be available on the company's website.
Read more →IONSIonis partner GSK announces Hibsago (bepirovirsen) approved in Japan as first and only functional cure for chronic hepatitis B
GSK, a partner of Ionis, has received approval from Japan's Ministry of Health for Hibsago (bepirovirsen) as the first and only functional cure for chronic hepatitis B. This landmark decision marks a significant milestone in the treatment landscape for hepatitis B, offering new hope for patients in Japan. The approval underscores the successful collaboration between Ionis and GSK.
Read more →IONSIonis to present new data strengthening leadership in the management of severe hypertriglyceridemia (sHTG) at the European Society of Cardiology Congress 2026
Ionis Pharmaceuticals announced that it will present new data on the management of severe hypertriglyceridemia (sHTG) at the European Society of Cardiology Congress 2026. The presentation will include one-year data from the long-term extension study of TRYNGOLZA® (olezarsen), which is the first approved treatment for sHTG in the U.S. The congress is scheduled for August 28-31 in Munich.
Read more →IONSIonis announces Dr. Frank Bennett, chief scientific officer, to retire
Ionis Pharmaceuticals announced the retirement of Dr. Frank Bennett, its chief scientific officer, effective February 2027. As a founding scientist, Bennett has played a crucial role in developing RNA-targeted therapies. His contributions have been pivotal in advancing antisense medicine, particularly in neurology, according to CEO Brett P. Monia.
Read more →IONSIonis reports second quarter 2026 financial results and highlights progress on key programs
Ionis Pharmaceuticals reported its financial results for Q2 2026, highlighting the approval of TRYNGOLZA, the first treatment aimed at reducing triglycerides and preventing acute pancreatitis in patients with severe hypertriglyceridemia. The company expressed optimism about the early momentum of the product's launch and its potential for revenue growth.
Read more →IONSIonis to hold second quarter 2026 financial results webcast
Ionis Pharmaceuticals, Inc. will host a live webcast on July 29, 2026, at 8:30 a.m. ET to discuss its second quarter financial results. The event will also cover progress on key programs. A replay will be available for a limited time after the live presentation.
Read more →IONSIonis Partner Biogen Presents Phase 2 CELIA Data at AAIC Demonstrating Meaningful Clinical Outcomes and Robust Tau Reduction with Diranersen in Early Alzheimer’s Disease
Ionis Pharmaceuticals and Biogen presented new data from the Phase 2 CELIA study at the AAIC 2026. The study evaluated diranersen, an investigational therapy targeting tau in early Alzheimer's disease. The results indicate significant clinical benefits and a notable reduction in tau levels, building on earlier findings.
Read more →IONSIonis doses first participant in Phase 1-2 ASCEND study of ION337 in Dravet syndrome
Ionis Pharmaceuticals has initiated the Phase 1-2 ASCEND study by dosing the first participant with ION337. This investigational RNA-targeted medicine aims to treat Dravet syndrome, a severe neurological disorder that begins in infancy. The study represents a significant step forward in addressing the needs of patients affected by this condition.
Read more →IONS▼ -23.9%on this news· ran to -35% by day 3shared move
Update on CARDIO-TTRansform Phase 3 trial of eplontersen in adults with transthyretin-mediated amyloid cardiomyopathy
Ionis Pharmaceuticals and AstraZeneca reported that the CARDIO-TTRansform Phase 3 trial for eplontersen in patients with transthyretin-mediated amyloid cardiomyopathy failed to meet its primary efficacy endpoint. The trial assessed cardiovascular mortality and recurrent clinical events but showed no significant difference compared to placebo. This outcome raises concerns about the drug's future prospects.
Read more →IONSIonis completes enrollment in pivotal cohort of the Phase 3 REVEAL study evaluating obudanersen in Angelman syndrome
Ionis Pharmaceuticals has completed enrollment in the pivotal cohort of the Phase 3 REVEAL study. This study is evaluating the efficacy of obudanersen in patients with Angelman syndrome. The completion of enrollment marks a significant step in the clinical trial process for this rare genetic disorder.
Read more →IONSIonis announces license agreement with Recordati for zilganersen in Alexander disease (AxD) in all countries outside the U.S.
Ionis Pharmaceuticals has entered into a licensing agreement with Recordati for the development of zilganersen, a treatment for Alexander disease (AxD). This agreement grants Recordati rights to market the drug in all countries outside the United States. This collaboration aims to advance the treatment options available for patients suffering from AxD.
Read more →IONSTRYNGOLZA® (olezarsen) approved by the FDA as the first and only treatment to reduce triglycerides and the risk of acute pancreatitis in patients with severe hypertriglyceridemia (sHTG)
The FDA has approved TRYNGOLZA® (olezarsen) as the first treatment specifically designed to reduce triglycerides and the risk of acute pancreatitis in patients suffering from severe hypertriglyceridemia (sHTG). This approval represents a significant advancement in managing this serious condition, offering hope for improved patient outcomes.
Read more →IONSFINAL Ionis announces appointment of Ludwig Hantson, Ph.D. to Board of Directors
Ionis Pharmaceuticals has appointed Ludwig Hantson, Ph.D., to its Board of Directors, bringing over 30 years of experience in the biopharmaceutical industry. His expertise is anticipated to support Ionis in its upcoming commercial launches and enhance its operational capabilities. Alongside this appointment, Ionis announced the retirement of two long-serving directors. The company is positioned for accelerated growth with a focus on its innovative pipeline in RNA-targeted medicines.
Read more →IONSIonis announces appointment of Ludwig Hantson, Ph.D. to Board of Directors
Ionis Pharmaceuticals has appointed Ludwig Hantson, Ph.D., to its Board of Directors, effective immediately. Dr. Hantson brings over 30 years of experience in the biopharmaceutical sector, having held leadership roles at companies such as Alexion and Baxter. His expertise is expected to support Ionis as it prepares for new commercial launches and scales its operations.
Read more →IONSIonis to present new analyses from CORE and CORE2 pivotal studies supporting olezarsen for severe hypertriglyceridemia (sHTG) at upcoming congresses
Ionis to present new analyses from CORE and CORE2 pivotal studies supporting olezarsen for severe hypertriglyceridemia (sHTG) at upcoming congresses
Read more →IONSIonis partner GSK announces bepirovirsen achieves unprecedented functional cure rates with potential to redefine treatment for chronic hepatitis B
GSK, in partnership with Ionis, has announced that bepirovirsen has achieved unprecedented functional cure rates in treating chronic hepatitis B. This breakthrough has the potential to significantly change the current treatment landscape for the disease. The collaboration highlights the importance of innovative therapies in addressing chronic viral infections.
Read more →About Ionis Pharmaceuticals, Inc.
Headquarters2855 GAZELLE COURT, CARLSBAD, CA, 92010
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