IONIS PHARMACEUTICALS INC — Form 8-K
Filed July 29, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 42/100
What the filing says
Ionis reported Q2 2026 net product sales of $31M ($74M H1), with TRYNGOLZA generating $5M Q2 ($32M H1) and DAWNZERA $26M Q2 ($42M H1). Total revenue declined to $268M Q2 vs. $452M prior-year Q2 (excluding $280M sapablursen upfront from 2Q25), driven by lower R&D collaboration revenue ($133M vs. $337M). Operating loss was $102M GAAP Q2 ($220M H1 2026 vs. $7M loss H1 2025). Cash and investments decreased to $2.1B from $2.7B on Dec 31, 2025, due to April 2026 repayment of $432M convertible notes. Company reaffirms 2026 guidance and projects cashflow breakeven in 2028.
Why this rating
Operational results show expected near-term losses from commercial ramp investments; pipeline progressing but CARDIO-TTRansform ATTR-CM failure offsets gains. Modest revenue size relative to $5.3B market cap; solid cash position ($2.1B) supports guidance.
See more from July 29, 2026.
EDGAR·FLOW summarizes public SEC EDGAR filings with automated analysis. Materiality scores and stock-impact predictions are algorithmically generated and are not investment advice. Always verify against the source filing on SEC.gov.