Ionis Pharmaceuticals Stock Earnings Reports

Ionis reported a strong Q3 2025 driven by commercial momentum, pipeline progress and updated guidance. Key commercial highlights: Tringolza (FCS) continues to ramp (Q3 product sales $32M, ~70% QoQ growth) with expanding prescriber reach and payer coverage; Donzara (HAE) received FDA approval in August and has an early, encouraging launch with switches and new patients starting therapy. Pipeline and clinical highlights: positive Phase III results for olisarcen (SHTG) demonstrating up to 72% placebo-adjusted triglyceride reductions and an 85% reduction in adjudicated acute pancreatitis events across CORE and CORE II; positive Phase III results for zilgarnersen in Alexander disease showing disease‑modifying benefit (33% mean gait‑speed benefit at 61 weeks); ION‑582 (Angelman) showed durable expressive communication improvements and received Breakthrough Therapy designation. Financials: Q3 revenue $157M (+17% YoY), 9M revenue $740M (+55% YoY); raised 2025 revenue guidance to $875–900M and Tringolza full‑year product sales to $85–95M; now expect FY operating loss of $275–300M and year-end cash >$2.1B. Commercial plans and timing: Ionis expects independent launches for olisarcen and zilgarnersen next year (sNDA for olisarcen in US by year‑end; detailed olisarcen data presented Nov 8), pricing work ongoing with final pricing to be announced upon approval, and intends to scale the field force ahead of launches. Longer term: company projects multiple near‑term launches (independent and partnered) that could drive multibillion-dollar revenue potential and aims for cash‑flow breakeven by 2028. Management also announced retirement of longtime Chief Development Officer Richard Geary at year-end.