Earnings Releases·Nov 9, 2026, 7:00 AM ET

Ionis Pharmaceuticals — Third Quarter 2026 Earnings Summary

Total revenue for Q3 2026 reached $243 million, a 55% year-over-year increase, while the nine-month period saw revenue rise 64% to $757 million; however, the company lowered 2026 TRYNGOLZA product sales guidance to approximately $50 million due to a more gradual launch ramp.
The company reaffirmed full-year 2026 total revenue guidance of $875–$900 million and non-GAAP operating loss guidance of $425–$475 million, though cash and short-term investments declined to $1.9 billion from $2.7 billion following the repayment of 0% convertible notes.
Commercial momentum strengthened with DAWNZERA generating $37 million in Q3 sales and SPINRAZA increasing 23% year-over-year to $461 million, while ZANVASTRO initiated its first independent neurology launch.
Clinical progress remains robust with Sefaxersen and Ulefnersen both meeting primary endpoints in Phase 3 trials, and HIBSAGO securing approvals in the U.S., Japan, and Canada, despite the Phase 3 CARDIO-TTRansform study for eplontersen missing its primary composite endpoint.