---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-027949"
form_type: "8-K"
ticker: "IONS"
cik: "0000874015"
company_name: "IONIS PHARMACEUTICALS INC"
filed_at: "2025-07-30T23:59:59+00:00"
generated_at: "2026-05-17T23:24:42.102241+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Ionis Q2 revenue doubles to $452M; raises FY 2025 guidance, TRYNGOLZA sales $19M

## Summary
- Q2 total revenue $452M (up from $225M); GAAP income from ops $140M vs loss $66M year ago.
- TRYNGOLZA net product sales $19M in Q2, first half $26M; SPINRAZA royalties $54M, WAINUA royalties $10M.
- FY 2025 guidance raised: total revenue $825-850M (from $725-750M); TRYNGOLZA sales guided at $75-80M.
- Donidalorsen expected approval Aug 21, 2025; Phase 3 olezarsen sHTG data due September.
- Received $280M upfront from sapablursen license; cash & investments $2.3B; CFO raised non-GAAP op loss guidance to $300-325M.

## SEC filing metadata
- accession: 0001140361-25-027949
- form_type: 8-K
- ticker: IONS
- cik: 0000874015
- company_name: IONIS PHARMACEUTICALS INC
- filed_at: 2025-07-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874015/000114036125027949/0001140361-25-027949-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874015/000114036125027949/ef20052929_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-027949
- JSON: https://secwatch.observer/filing/0001140361-25-027949.json
- Plain text: https://secwatch.observer/filing/0001140361-25-027949.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.