---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-26-006718"
form_type: "8-K"
ticker: "IONS"
cik: "0000874015"
company_name: "IONIS PHARMACEUTICALS INC"
filed_at: "2026-02-25T23:59:59+00:00"
generated_at: "2026-05-16T00:35:21.502024+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Ionis FY2025 total revenue $944M (+34% YoY); guides 2026 rev $800-825M, op loss $500-550M

## Summary
- FY2025 total revenue $944M (2024: $705M); Q4 revenue $203M.
- TRYNGOLZA net sales $108M in first launch year; DAWNZERA $7M in first full quarter.
- SPINRAZA royalties $212M, WAINUA royalties $49M; collaborative rev $508M incl $280M Ono upfront.
- 2026 guidance: revenue $800-825M, non-GAAP op loss $500-550M, cash ~$1.6B.
- Olezarsen sNDA for sHTG submitted; zilganersen NDA for Alexander disease decision H2 2026.

## SEC filing metadata
- accession: 0001140361-26-006718
- form_type: 8-K
- ticker: IONS
- cik: 0000874015
- company_name: IONIS PHARMACEUTICALS INC
- filed_at: 2026-02-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/874015/000114036126006718/0001140361-26-006718-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874015/000114036126006718/ef20066495_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-26-006718
- JSON: https://secwatch.observer/filing/0001140361-26-006718.json
- Plain text: https://secwatch.observer/filing/0001140361-26-006718.txt

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