secwatch.observer — SEC 8-K summary
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Issuer:     IONIS PHARMACEUTICALS INC (IONS)
CIK:        0000874015
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0001140361-26-006718
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/874015/000114036126006718/0001140361-26-006718-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/874015/000114036126006718/ef20066495_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-006718

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer