Ionis Pharmaceuticals, Inc.
IONSHealthcareNASDAQBiotechnology · Last scanned Jul 18, 2026
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Daily timeframeHeadquartered within the healthcare sector, Ionis Pharmaceuticals, Inc. focuses on Biotechnology services and products. Ionis Pharmaceuticals, Inc., a commercial-stage biotechnology company, provides RNA-targeted medicines in the United States. At a $8.99B market cap, Ionis Pharmaceuticals, Inc. ranks as a mid-cap company within healthcare. The company offers TRYNGOLZA reduces triglyceride levels in adults with familial chylomicronemia syndrome (FCS) and acute pancreatitis; DAWNZERA for prophylaxis to prevent attacks of hereditary angioedema in adults; WAINUA for the treatment of the polyneuropathy of hereditary transthyretin-medicated amyloidosis (ATTRv-PN) in adults; and SPINRAZA for pediatric and adult patients with spinal muscular atrophy (SMA).
Market Cap
$8.99B
Beta
0.36
P/E (TTM)
—
P/E (Fwd)
-47.65
EPS (TTM)
$-2.01
EPS (Fwd)
$-1.14
ROE
-67.6%
ROA
-7.0%
Cash
$1.98B
Total Debt
$2.61B
Free CF
-$807.8M
52W Change
30.2%
Annual Financials
Cash vs Debt
Ionis Pharmaceuticals, Inc. carries $2.61B in total debt against $1.98B in cash reserves — debt is modestly above the cash position. Managing this leverage effectively will be important for long-term financial stability. The company is burning cash, with free cash flow at -$807.8M. This typically occurs when a company is investing aggressively in growth, but sustained cash burn can strain the balance sheet. ROE of -67.6% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $587.4M (2022) to $943.7M (2025), reflecting a 61% increase over the period.
The relatively low beta of 0.36 suggests IONS is a less volatile holding compared to the broader index. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing IONS.