Ionis Pharmaceuticals — Third Quarter 2026 Earnings Summary

Ionis Pharmaceuticals reported third-quarter 2026 total revenue of $243 million, driven by commercial sales of DAWNZERA and TRYNGOLZA alongside substantial research and development revenue from partnerships. The company lowered its full-year 2026 product sales guidance for TRYNGOLZA to approximately $50 million due to a more gradual launch ramp than anticipated, while reaffirming guidance for DAWNZERA and total company revenue. Operating expenses increased year-over-year to reflect commercialization investments for its wholly owned medicines, resulting in a non-GAAP operating loss of $87 million for the quarter. As of September 30, 2026, Ionis held $1.9 billion in cash and short-term investments after repaying convertible notes earlier in the year.