Ionis Pharmaceuticals (IONS)
Health Care · RNA-targeted therapeutics and antisense medicine
Pioneer in RNA-targeted antisense medicines with seven commercialized products and expanding late-stage pipeline across rare neurological and cardiometabolic diseases, now executing independent U.S. launches while generating royalty revenue from major pharma partnerships.
What Ionis Pharmaceuticals does
Ionis Pharmaceuticals is a pioneer in RNA-targeted medicines that has transitioned into a fully integrated commercial-stage biotechnology company. The company currently markets seven medicines targeting serious diseases including familial chylomicronemia syndrome, hereditary angioedema, spinal muscular atrophy, and amyotrophic lateral sclerosis, with plans to independently launch two additional medicines in 2026. Ionis operates both as a direct commercializer in the U.S. market and through partnerships with major pharmaceutical companies for global reach and ongoing royalty streams.
Themes: ["RNA-targeted medicines","Rare genetic diseases","Neurological disorders","Cardiometabolic diseases","Hypertriglyceridemia / lipid disorders","Amyloidosis","Inherited neuromuscular diseases"]
Fundamentals
- Price$64.27 as of 2026-07-09 close
- Market cap$10.7B as of 2026-07-10
- 1-year return+50.1% as of 2026-07-09 close
- Net margin-30.9% as of 2026-07-10
- Gross margin+98.3% as of 2026-07-10
- ROE-58.7% as of 2026-07-10
- Debt / equity4.76 as of 2026-07-10
- Revenue growth (YoY)+47.4% as of 2026-07-10
- Revenue CAGR (3y)+17.1% SEC XBRL
- Beta0.36 as of 2026-07-10
Key risks (from latest filing)
["Regulatory risk: dependent on FDA and EMA approvals for pipeline candidates including olezarsen and zilganersen scheduled for 2026 launches","Commercial execution risk: transitioning to a fully integrated commercial-stage company with independent U.S. launches requires successful market development and sales force execution","Partnership dependence: significant revenue reliance on partner commercialization through Biogen (SPINRAZA, QALSODY), AstraZeneca (WAINUA), and other licensees, exposing profitability to partner performance and disagreements"]
Competitors & peers
- Biogen (BIIB)
- Antisense Pharma
- Reata Pharmaceuticals
- Akcea Therapeutics (AstraZeneca subsidiary)
- Dyax Corp / Iptacopan developers
- PTC Therapeutics (PTCT)
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.