What should I know about Ionis Pharmaceuticals?
Ionis Pharmaceuticals is a US biotechnology company, based in Carlsbad, California, that develops RNA-targeted medicines. These drugs are designed to act on the genetic instructions that cells use to make proteins. According to its Q2 2026 results, Ionis has marketed products and a pipeline in neurology, cardiometabolic disease and other areas of high need, and it also pursues gene-editing approaches. Its medicines are sold both by Ionis and by partner companies. The company trades on the Nasdaq under the ticker IONS.
What are Ionis Pharmaceuticals's main drugs?
Ionis sells two medicines itself and earns royalties on others. Tryngolza (olezarsen) had $5 million in US sales in the second quarter of 2026, and its indication for severe hypertriglyceridemia was approved in June 2026. Dawnzera (donidalorsen) had $26 million. Per the Q2 2026 results, royalties included about $53 million from Spinraza and $16 million from Wainua, both sold by partners. Full-year 2026 sales guidance is $100–$110 million for Tryngolza and $110–$120 million for Dawnzera.
What is Ionis Pharmaceuticals currently developing?
Ionis has several decisions coming. The Q2 2026 results list zilganersen for Alexander disease, under FDA priority review with a decision date of 22 September 2026, and bepirovirsen for chronic hepatitis B, with a decision date of 26 October 2026. Results from the Lp(a) HORIZON cardiovascular outcomes trial of pelacarsen are expected in the second half of 2026. The Phase 3 CARDIO-TTRansform trial of eplontersen in ATTR cardiomyopathy missed its primary endpoint in the overall population. Analysts say this significantly strengthens the prospects of ATTR-CM stabilizers, such as BBIO’s Attruby and Pfizer’s Vyndamax, over silencers, such as Alnylam’s Amvuttra.
Is Ionis Pharmaceuticals publicly traded, and how big is it?
Yes. Ionis trades on the Nasdaq under the ticker IONS. Its market capitalisation was about $7.3 billion on 1 October 2026. Revenue for the second quarter of 2026 was $268 million, down from $452 million a year earlier, when it included a $280 million upfront payment from Ono. Revenue for the first half of 2026 was $514 million. The company held $2.1 billion in cash and short-term investments at 30 June 2026.