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Ionis Pharmaceuticals, Inc. (IONS) Stock: Price, Forecast & Analyst Target

Ionis Pharmaceuticals, Inc. (IONS) — MoonshotScore 26/100 (Weak band), calculated Oct 5, 2026. Price $43.54 (-1.05%), as of the Oct 2, 2026 trading session; market cap $7.24B. Expected results Nov 4, 2026.

Educational signal · not a buy or sell recommendation · How to read this

Market value / cash and short-term investments: 3.52× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 4, 2026

$43.54 −$0.46 (-1.05%) Market Cap $7.24B

Ionis Pharmaceuticals, Inc. · IONS · NASDAQ · Healthcare · Biotechnology

Research dated 2026-09-13: Ionis develops and commercializes RNA-targeted medicines for rare and serious diseases, with named products on the market and a broad clinical pipeline supported by major pharmaceutical collaborations. The equity case depends on whether TRYNGOLZA and DAWNZERA can turn improving revenue into durable operating leverage while research spending remains heavy.

Price as of Oct 2, 2026

Key Statistics

26 of 100

MoonshotScore v2 · Ionis Pharmaceuticals (IONS)

Weak
Business Quality Thin (34)
Financial Safety Sound (60)
Valuation Fair (65)
Growth Durability Growing (69)
Momentum Slipping (25)
Why this rating? Method, drivers & history

Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.

  • Business Quality — Is this a genuinely good business?
  • Financial Safety — Could this blow up on me?
  • Valuation — Am I paying a fair price?
  • Growth Durability — Is the growth real and likely to last?
  • Momentum — Is the market already moving on this?
The ten-second read ·

Durable growth, but weak quality, and the price trend has turned against it. Business Quality: Thin; Financial Safety: Sound; Valuation: Fair; Growth Durability: Growing; Momentum: Slipping.

  • quarterly revenue $268M (Q2 FY2026, quarter ended Jun 2026)
  • EPS beat 7 of 8
  • Altman Z 0.98 · Piotroski F 2

Holding back: weak fundamentals, weak price trend

Helping: durable growth

What has the MoonshotScore done over time?

MoonshotScore snapshots recorded for IONS (29 recorded, newest six shown)
RecordedScoreBand
26Weak
26Weak
27Weak
27Weak
27Weak
27Weak

The score was 26 in the stored Oct 4, 2026 snapshot and remains 26 in the current publication computed Oct 5, 2026 (0); the largest pillar moves were Growth Durability -3; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged. This current publication is not yet represented in the immutable snapshot archive.

Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.

Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →

Price & valuation

As of
MeasureValue
Latest provided price$43.54
Change on the day-1.05%
52-week range$43.01–$86.74
Market capitalisation$7.24B
Shares traded on the day2.31M
Beta (volatility vs the S&P 500)0.42

Price & events

Weekly closing price with reported quarters marked Weekly closing price from Sep 5, 2025 to Oct 2, 2026: low $44, high $87, latest $44. 4 reported quarters marked, 3 above and 1 below the recorded estimate. 1 other dated event marked. $87 $44 high $87 Oct 29, 2025 · Earnings results · reported above the recorded estimate · close $741Feb 25, 2026 · Earnings results · reported below the recorded estimate · close $812Apr 29, 2026 · Earnings results · reported above the recorded estimate · close $753Jul 29, 2026 · Earnings call · management outlook · no recorded estimate to compare · close $524Jul 29, 2026 · Earnings results · reported above the recorded estimate · close $525 Sep 5, 2025 Oct 2, 2026 · $44 $61Sep 5, 2025$61Sep 19, 2025$69Oct 3, 2025$73Oct 17, 2025$74Oct 31, 2025$72Nov 14, 2025$83Nov 28, 2025$81Dec 12, 2025$80Dec 26, 2025$80Jan 9, 2026$80Jan 23, 2026$87Feb 6, 2026$83Feb 20, 2026$74Mar 6, 2026$71Mar 20, 2026$75Apr 2, 2026$76Apr 17, 2026$75May 1, 2026$74May 15, 2026$77May 29, 2026$73Jun 12, 2026$81Jun 26, 2026$58Jul 10, 2026$57Jul 24, 2026$57Aug 7, 2026$60Aug 21, 2026$58Sep 4, 2026$44Sep 18, 2026$44Oct 2, 2026

Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.

Events behind the price

  • · Earnings results · above the recorded estimate
  • · Earnings results · below the recorded estimate
  • · Earnings results · above the recorded estimate
  • · Earnings call · management outlook
  • · Earnings results · above the recorded estimate

Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.

Upcoming events

As of

  1. Next results dueProvider estimate

Management outlook

  • We continue to expect TRYNGOLZA to return to revenue growth in the second half of this year as the sHTG launch gains momentum.

    Elizabeth L. Hougen · Statement from

  • On the expense side, we continue to expect 2026 operating expenses to increase in the low teens percentage range compared to last year, driven primarily by sales and marketing expenses related to our ongoing and upcoming commercial launches.

    Elizabeth L. Hougen · Statement from

Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.

Read management statements

Other perspectives

Council score for Ionis Pharmaceuticals (IONS): perspectives

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

5-Factor Breakdown

Growth Durability Moderate
Momentum Weak
Business Quality Weak
Financial Safety Moderate
Valuation Moderate

Legends Council

4 lenses, 0 current

AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built

Griffin-style lens (simulated) Ken Griffin Unfavorable read
Englander-style lens (simulated) Izzy Englander Neutral read
Klarman-style lens (simulated) Seth Klarman Unfavorable read
Moon AI lens (model) Favorable read

Read on: Sep 29, 2026 · older than the 27 hours refresh window; not a current reading

Munger's Mindset

Balance Sheet & Valuation · historical

Financial Health Negative
Margin of Safety Undervalued
Profit Margin Weak
Revenue Growth Strong
Debt/Equity Negative
ROE Negative
Gross Margin Strong

Read on: Sep 24, 2026 · older than the 27 hours refresh window; not a current reading

How to read these bars and different assessments

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.

On Sep 24, 2026, the Munger lens read the price at that time as undervalued against its own estimate of value.

Readings on this page are from Oct 5, 2026, except a card that shows its own read date.

Watch the IONS film — every key number, told as a short cinematic story

~2 min · open the film

1 · What is it?

What is Ionis Pharmaceuticals (IONS), and what does it report?

Short answer · as of

Ionis is not merely a drug developer awaiting a clinical verdict. It sells RNA-targeted medicines such as TRYNGOLZA and DAWNZERA, while therapies including WAINUA, SPINRAZA and QALSODY connect its platform to a wider commercial portfolio.

Research dated 2026-09-13.

Ionis is not merely a drug developer awaiting a clinical verdict. It sells RNA-targeted medicines such as TRYNGOLZA and DAWNZERA, while therapies including WAINUA, SPINRAZA and QALSODY connect its platform to a wider commercial portfolio.

Reported revenue therefore reflects a hybrid commercial-stage biotechnology business rather than demand for an isolated flagship medicine. Gross profit sits close to revenue, yet research and administrative expense still push operations into loss, so the income statement measures a transition from platform investment toward a broader marketed portfolio.

Sources (as of 2026-09-13): Business description; Quarterly income statement (USD thousands); Trailing twelve-month ratio set; Annual revenue and net result (USD millions)

2 · Latest results

What do the latest results show for Ionis Pharmaceuticals (IONS)?

Short answer · as of

The most recent reported quarter, Q2 FY2026, carried revenue of $268M.

Research dated 2026-09-13.

Revenue has risen across the latest reported periods after a much weaker run. The operating loss narrowed again in the latest period, although the net loss deepened.

Gross profit rose with revenue while research and administrative expense changed less, allowing incremental revenue to carry through to a smaller operating loss. The business remains unprofitable, however, and the annual record shows that higher revenue has not yet produced durable earnings.

Sources (as of 2026-09-13): Quarterly income statement (USD thousands); Trailing twelve-month ratio set; Annual revenue and net result (USD millions)

Where is operating spending going?

Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.

Latest quarter · revenue
$267.95M Jun 30, 2026
Latest quarter · R&D
$217.11M Jun 30, 2026
Latest quarter · SG&A
$150.40M Jun 30, 2026
Latest quarter · FMP standardized operating result
−$102.29M Jun 30, 2026
Where is operating spending going? — FMP standardized evidence
Period endRevenueR&DSG&AFMP standardized operating result
Jun 30, 2026$267.95M$217.11M$150.40M−$102.29M
Mar 31, 2026$246.09M$210.17M$150.36M−$117.42M
Dec 31, 2025$203.00M$280.00M$130.00M−$215.00M
Sep 30, 2025$156.72M$217.75M$96.80M−$160.18M

USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.

Did results meet expectations?

Reported earnings and revenue alongside the estimates recorded by the provider.

Latest report · revenue
$268.00M Jul 29, 2026
Latest report · revenue estimate
$189.10M Jul 29, 2026
Latest report · revenue vs estimate
Above estimate Jul 29, 2026
Latest report · EPS vs estimate
Above estimate Jul 29, 2026
Did results meet expectations? — reported evidence
Report dateRevenue · reportedRevenue · estimateEPS · reportedEPS · estimate
Jul 29, 2026$268.00M$189.10M−$0.6900−$1.0900
Apr 29, 2026$246.00M$195.56M−$0.5600−$0.8500
Feb 25, 2026$203.00M$156.07M−$1.4100−$1.2367
Oct 29, 2025$156.72M$153.57M−$0.6100−$1.1500

Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.

Quarterly income statement — 4 quarters
Revenue, net income and earnings per share by quarter
PeriodRevenueNet incomeEPS
Q2 FY2026$268M-$115M-$0.69 (diluted)
Q1 FY2026$246M-$93M-$0.56 (diluted)
Q4 FY2025$203M-$229M-$1.41 (diluted)
Q3 FY2025$157M-$129M-$0.80 (diluted)
3 · Financial strengths and risks

What are the financial strengths and risks for Ionis Pharmaceuticals (IONS)?

Short answer

Cash and short-term investments were $2.05B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $565.53M for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.

Research dated 2026-09-13.

Liquidity is substantial relative to the observed rate of cash use, and cash and short-term investments recovered from the preceding period while remaining below earlier levels. The wider reporting window still shows an overall cash decline, and operating cash flow has swung sharply between use and generation, making any isolated period a poor guide to self-funding capacity.

Debt exceeds cash and short-term investments, leaving Ionis in net debt despite ample current liquidity. Persistent losses, negative returns, weak quality and distress screens, and demanding sales and book valuations mean slow product uptake or pipeline setbacks could leave the balance sheet carrying continued research spending.

Sources (as of 2026-09-13): Cash, investments and debt; Cash and investment components; Cash and short-term investments over time (USD millions); Cash decline over the reported window; Cash runway cross-check (ours); Cash against market value; Operating cash flow by quarter (USD millions); Trailing twelve-month ratio set; Distress and quality screens

Data-derived red flags

  • Financial-distress signal — its Altman Z-Score of 0.98 sits in the distress zone (elevated bankruptcy risk).
  • Negative return on equity (-58.6%) — the business is not currently generating profit on shareholder capital.
  • Weak fundamentals — a Piotroski F-Score of 2/9 flags soft profitability, leverage or efficiency.

How much cash does the business generate or use?

Quarterly operating cash flow shows cash generated or used by operations.

Latest quarter · operating cash flow
$565.53M Jun 30, 2026
Previous quarter · operating cash flow
−$792.82M Mar 31, 2026
How much cash does the business generate or use? — reported evidence
Period endOperating cash flowCapital expenditure (reported)
Jun 30, 2026$565.53M−$16.08M
Mar 31, 2026−$792.82M−$21.76M
Dec 31, 2025−$137.71M−$21.29M
Sep 30, 2025−$131.44M−$3.31M

Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.

USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.

4 · What to check next?

What should you watch next at Ionis Pharmaceuticals (IONS)?

Short answer · as of

The next earnings report is expected on Nov 4, 2026.

Research dated 2026-09-13.

Watch whether sequential revenue growth continues and whether gross profit again rises faster than the combined research and administrative burden. That pairing would narrow operating losses for a repeatable reason; revenue growth without expense absorption would not.

Cash conversion needs equal attention. The latest positive operating cash flow followed a severe outflow, so sustained generation alongside a stable cash balance would carry more weight than another isolated inflow.

Commercial uptake for TRYNGOLZA and DAWNZERA, progress in late-stage lipid and rare-neurology programs, and the durability of medicines developed through collaborations are the company-specific observations that can reshape the revenue profile.

Sources (as of 2026-09-13): Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Cash and short-term investments over time (USD millions); Business description; Annual revenue and net result (USD millions)

What management is planning

Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.

  1. We continue to expect TRYNGOLZA to return to revenue growth in the second half of this year as the sHTG launch gains momentum.

    Elizabeth L. Hougen ·

  2. On the expense side, we continue to expect 2026 operating expenses to increase in the low teens percentage range compared to last year, driven primarily by sales and marketing expenses related to our ongoing and upcoming commercial launches.

    Elizabeth L. Hougen ·

  3. With our strong first half financial performance and our outlook for the remainder of this year, we remain on track to achieve our full year 2026 financial guidance and cash flow breakeven in 2028 while continuing to drive substantial growth and longer-term value creation.

    Elizabeth L. Hougen ·

5 · Peer comparison

How does Ionis Pharmaceuticals compare with its peers?

Short answer

Ionis Pharmaceuticals's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.

Research dated 2026-09-13.

Unlike biotechnology businesses supported mainly by experimental pipelines, Ionis combines marketed medicines, internal late-stage programs and collaborations with Biogen, GSK, AstraZeneca, Novartis, Roche and Metagenomi.

Its differentiation is an RNA-targeting platform applied across lipid, neurologic, cardiovascular, liver and complement-related diseases. That breadth spreads clinical exposure across distinct disease mechanisms, but the financial profile remains research-intensive: exceptionally high gross margins coexist with large operating losses and volatile cash flow.

Sources (as of 2026-09-13): Business description; Quarterly income statement (USD thousands); Annual revenue and net result (USD millions); Operating cash flow by quarter (USD millions); Trailing twelve-month ratio set

Peer set — price, market value and MoonshotScore
CompanyPriceMarket valueScore
Krystal Biotech, Inc. (KRYS) Same industry, near in market value$322.28 Oct 2, 2026$9.50B98 5-pillar Oct 5, 2026
Ligand Pharmaceuticals Incorporated (LGND) Same industry, near in market value$302.96 Oct 2, 2026$6.07B96 5-pillar Oct 5, 2026
Caris Life Sciences, Inc. (CAI) Same industry, near in market value$28.30 Oct 2, 2026$8.00B89 5-pillar Oct 5, 2026
Ascendis Pharma A/S (ASND) Named competitor$227.87 Oct 2, 2026$14.2B88 5-pillar Oct 5, 2026
Protagonist Therapeutics, Inc. (PTGX) Same industry, near in market value$140.06 Oct 2, 2026$9.01B75 5-pillar Oct 5, 2026
Belite Bio, Inc. (BLTE) Same industry, near in market value$159.56 Oct 2, 2026$6.40B69 5-pillar Oct 5, 2026
Oruka Therapeutics, Inc. (ORKA) Same industry, near in market value$84.52 Oct 2, 2026$5.10B68 5-pillar Oct 5, 2026
TG Therapeutics, Inc. (TGTX) Same industry, near in market value$54.29 Oct 2, 2026$8.31B65 5-pillar Oct 5, 2026
BioMarin Pharmaceutical Inc. (BMRN) Same industry, near in market value$57.18 Oct 2, 2026$11.1B65 5-pillar Oct 5, 2026
Alkermes plc (ALKS) Same industry, near in market value$41.75 Oct 2, 2026$7.00B64 5-pillar Oct 5, 2026
Veradermics, Incorporated (MANE) Same industry, near in market value$116.76 Oct 2, 2026$4.88B64 5-pillar Oct 5, 2026
Revolution Medicines, Inc. (RVMD) Named competitor$206.64 Oct 2, 2026$43.9B56 5-pillar Oct 5, 2026
Ionis Pharmaceuticals (IONS) — this page$43.54$7.24B26

Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.

Screen more Healthcare stocks

The records behind this page

Analyst targets & estimates

What analysts have on file

Price target, low to high
$54.00 – $115.00
Consensus target
$84.08
Median target
$85.00

Consensus record · Captured .

Measured against a quoted price of $43.54 (as of Oct 2, 2026).

Insider activity

Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Aug 31, 2026

Transactions
98
Identified insiders
17
Purchases
2
Sales
23
Other transactions
73

Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.

Who holds the shares?

Institutional ownership reported through 13F filings.

Reporting holders
556 Period end Jun 30, 2026
Previous quarter · holders
527 Prior to period end Jun 30, 2026
Who holds the shares? — reported evidence
Holders in provider snapshotShares
Fmr LLC24,631,956
Capital World Investors21,669,226
Blackrock, INC.10,704,660
Vanguard Portfolio Management LLC7,859,529
Wellington Management Group Llp7,651,415

Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.

What has been published about Ionis Pharmaceuticals (IONS)?

Read these with our analysis →

Ionis Pharmaceuticals Healthcare Stock: Key Questions Answered

Research dated 2026-09-13; the answers below are from that research, and the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.

How do TRYNGOLZA and DAWNZERA change the Ionis business model?

They add named commercial medicines to a business long defined by RNA-targeted research and pharmaceutical collaborations. Their uptake can make revenue more closely connected to product demand, while the current expense base shows that commercialization has not yet displaced heavy platform investment.

Sources (as of 2026-09-13): Business description; Quarterly income statement (USD thousands); Annual revenue and net result (USD millions)

What would olezarsen add beyond TRYNGOLZA?

Olezarsen is being developed for severe hypertriglyceridemia and cardiovascular disease, while TRYNGOLZA addresses familial chylomicronemia syndrome and acute pancreatitis. Its development therefore reaches a different lipid-disease setting within the same RNA-targeted franchise.

Sources (as of 2026-09-13): Business description

Why can Ionis report high gross profit and still lose money?

Research and administrative spending exceed the gross profit generated by current revenue. The latest periods show improving operating leverage, but the annual record still reflects sustained net losses.

Sources (as of 2026-09-13): Quarterly income statement (USD thousands); Trailing twelve-month ratio set; Annual revenue and net result (USD millions)

Can Ionis fund its RNA-targeted pipeline from current liquidity?

Current liquidity is large relative to observed cash use, but debt exceeds cash and investments and operating cash flow is volatile. Expense discipline and sustained commercial cash generation therefore matter more than the headline liquidity balance alone.

Sources (as of 2026-09-13): Cash, investments and debt; Cash decline over the reported window; Cash runway cross-check (ours); Cash against market value; Operating cash flow by quarter (USD millions)

What is the IONS stock price today?

The last price recorded on this page for Ionis Pharmaceuticals, Inc. (IONS) is $43.54, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.

What is the IONS price target?

The analyst consensus price target for Ionis Pharmaceuticals, Inc. (IONS) is $84.08 (range $54.00 to $115.00, median $85.00), per FMP data captured Oct 5, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Research written by Codex (gpt-5.6-sol) on 2026-09-13. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.

Sources (as of 2026-09-13): Business description; Quarterly income statement (USD thousands); Annual revenue and net result (USD millions)

Sources — records for every figure on this page (81 figures)

The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.

"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.

OFFICIAL — 2 facts from SEC filings and earnings calls

OFFICIAL facts used on this page
Fact IDFactValue as shownAs ofTierSource
prod.outlookManagement outlook — call excerptsElizabeth L. Hougen (Jul 29, 2026): We continue to expect TRYNGOLZA to return to revenue growth in the second half of this year as the sHTG launch gains momentum. Elizabeth L. Hougen (Jul 29, 2026): On the expense side, we continue to expect 2026 operating expenses to increase in the low teens percentage range compared to last year, driven primarily by sales and marketing expenses related to our ongoing and upcoming commercial launches. Elizabeth L. Hougen (Jul 29, 2026): With our strong first half financial performance and our outlook for the remainder of this year, we remain on track to achieve our full year 2026 financial guidance and cash flow breakeven in 2028 while continuing to drive substantial growth and longer-term value creation.OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.
id.hqSEC filing business addressCarlsbad, CAOFFICIALSEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "2855 Gazelle Court, Carlsbad, CA, 92010, US".

FMP — 71 facts from Financial Modeling Prep endpoint families

FMP facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.nextNext earnings dateNov 4, 2026FMPFinancial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it.
px.lastLatest provided price$43.54FMPFinancial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T17:14:29.134Z.
px.changeChange on the day-1.05%FMPFinancial Modeling Prep (FMP) · quote
px.mcapMarket capitalisation$7.24BFMPFinancial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:01.000Z. Captured from FMP at 2026-10-04T17:14:28.016Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares.
px.change_absChange on the day, in dollars−$0.46FMPFinancial Modeling Prep (FMP) · quote
fin.q_revenueRevenue, Q2 FY2026$268MFMPFinancial Modeling Prep (FMP) · income statement (quarterly)
px.range5252-week range$43.01–$86.74FMPFinancial Modeling Prep (FMP) quote
px.volumeShares traded on the day2.31MFMPFinancial Modeling Prep (FMP) · quote
px.betaBeta0.42FMPFinancial Modeling Prep (FMP) company profile
id.ceoChief executiveBrett MoniaFMPFinancial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it.
id.employeesEmployees1,480FMPFinancial Modeling Prep (FMP) employee count, from the company's filing
fin.annualRevenue and net result by fiscal year5 fiscal years, FY2021 through FY2025: FY2021 revenue $810.46M, net result −$28.60M; FY2022 revenue $587.37M, net result −$269.72M; FY2023 revenue $787.65M, net result −$366.29M; FY2024 revenue $705.14M, net result −$453.90M; FY2025 revenue $944.00M, net result −$381.00MFMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
fin.rev_mixReported revenue segmentsProduct $115.31M · Royalty $285.53M · Commercial Member $435.85MFMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
fin.gross_marginGross margin (trailing twelve months)98.2%FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.q_table.depth.2026-06-30.revenue_kRevenue — period end 2026-06-30$267.95MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.rd_kR&D — period end 2026-06-30$217.11MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.sga_kSG&A — period end 2026-06-30$150.40MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.operating_result_kFMP standardized operating result — period end 2026-06-30−$102.29MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.revenue_kRevenue — period end 2026-03-31$246.09MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.rd_kR&D — period end 2026-03-31$210.17MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.sga_kSG&A — period end 2026-03-31$150.36MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.operating_result_kFMP standardized operating result — period end 2026-03-31−$117.42MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.revenue_kRevenue — period end 2025-12-31$203.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.rd_kR&D — period end 2025-12-31$280.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.sga_kSG&A — period end 2025-12-31$130.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.operating_result_kFMP standardized operating result — period end 2025-12-31−$215.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.revenue_kRevenue — period end 2025-09-30$156.72MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.rd_kR&D — period end 2025-09-30$217.75MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.sga_kSG&A — period end 2025-09-30$96.80MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.operating_result_kFMP standardized operating result — period end 2025-09-30−$160.18MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
earn.history.depth.2026-07-29.revenue_actualRevenue · reported — report date 2026-07-29$268.00MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-07-29.revenue_estimatedRevenue · estimate — report date 2026-07-29$189.10MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-07-29.eps_actualEPS · reported — report date 2026-07-29−$0.6900Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-07-29.eps_estimatedEPS · estimate — report date 2026-07-29−$1.0900Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-04-29.revenue_actualRevenue · reported — report date 2026-04-29$246.00MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-04-29.revenue_estimatedRevenue · estimate — report date 2026-04-29$195.56MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-04-29.eps_actualEPS · reported — report date 2026-04-29−$0.5600Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-04-29.eps_estimatedEPS · estimate — report date 2026-04-29−$0.8500Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-25.revenue_actualRevenue · reported — report date 2026-02-25$203.00MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-25.revenue_estimatedRevenue · estimate — report date 2026-02-25$156.07MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-25.eps_actualEPS · reported — report date 2026-02-25−$1.4100Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-25.eps_estimatedEPS · estimate — report date 2026-02-25−$1.2367Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-29.revenue_actualRevenue · reported — report date 2025-10-29$156.72MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-29.revenue_estimatedRevenue · estimate — report date 2025-10-29$153.57MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-29.eps_actualEPS · reported — report date 2025-10-29−$0.6100Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-29.eps_estimatedEPS · estimate — report date 2025-10-29−$1.1500Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
fin.q_tableQuarterly income statement4 quarters through Q2 FY2026FMPFinancial Modeling Prep (FMP) · income statement (quarterly), as filed
fin.cash_investmentsCash and short-term investments$2.05BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review.
fin.opcf_latestLatest-quarter operating cash flow$565.53MFMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate.
fin.long_term_investmentsLong-term investments (classification unverified)$19.82MFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.total_debtTotal debt$2.42BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.price_to_bookPrice to book value16.38×FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.opcf.depth.2026-06-30.operating_cash_flow_mOperating cash flow — period end 2026-06-30$565.53MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.operating_cash_flow_mOperating cash flow — period end 2026-03-31−$792.82MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-06-30.capex_mCapital expenditure (reported) — period end 2026-06-30−$16.08MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.capex_mCapital expenditure (reported) — period end 2026-03-31−$21.76MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.operating_cash_flow_mOperating cash flow — period end 2025-12-31−$137.71MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.capex_mCapital expenditure (reported) — period end 2025-12-31−$21.29MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.operating_cash_flow_mOperating cash flow — period end 2025-09-30−$131.44MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.capex_mCapital expenditure (reported) — period end 2025-09-30−$3.31MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
earn.pt_rangeAnalyst price target, low to high$54.00 – $115.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied
earn.pt_consensusConsensus analyst price target$84.08FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied
earn.pt_medianMedian analyst price target$85.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 5, 2026 · Coverage not supplied
own.insidersInsider transactions via FMP98 transactions · 2 purchases, 23 sales, 73 other transactions · 17 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Aug 31, 2026FMPFinancial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
own.institutions.depth.holdersReporting holders556FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.holders_previous_quarterPrevious quarter · holders527FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.top_holders.depth.holder_0.sharesFmr LLC — shares in provider snapshot24,631,956FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_1.sharesCapital World Investors — shares in provider snapshot21,669,226FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_2.sharesBlackrock, INC. — shares in provider snapshot10,704,660FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_3.sharesVanguard Portfolio Management LLC — shares in provider snapshot7,859,529FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_4.sharesWellington Management Group Llp — shares in provider snapshot7,651,415FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.

UNRECORDED — 3 facts from stored observations whose source was not recorded

UNRECORDED facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.historyReported versus estimated, recent quartersEPS beat 7 of 8UNRECORDEDStored earnings-history observation — Captured 2026-10-02 · Expired observation
fin.scoresDistress and quality screensAltman Z 0.98 · Piotroski F 2UNRECORDEDStored financial-scores observation — Captured 2026-10-03 · Expired observation
fin.ratiosReturn and yield ratios (trailing twelve months)ROE -58.6% · ROA -9.5% · current ratio 4.10 · earnings yield -2.5% · free-cash-flow yield -7.4%—UNRECORDEDStored key metrics — Date unknown

COMPUTED — 3 facts from our arithmetic, formula restated

COMPUTED facts used on this page
Fact IDFactValue as shownAs ofTierSource
fin.mcap_to_cashMarket value per dollar of cash and short-term investments3.52×—COMPUTEDComputed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $2.05B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio.
earn.history.depth.2026-07-29.revenue_actual.comparisonLatest report · revenue vs estimateAbove estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($268.00M) with the recorded estimate ($189.10M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.
earn.history.depth.2026-07-29.eps_actual.comparisonLatest report · EPS vs estimateAbove estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS (−$0.6900) with the recorded estimate (−$1.0900) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.

OURS — 2 facts from Stock Expert AI's own score and rank

OURS facts used on this page
Fact IDFactValue as shownAs ofTierSource
ours.moonshotMoonshotScore v226 of 100 · Weak · pillars 34 / 60 / 65 / 69 / 25OURSStock Expert AI MoonshotScore v2 engine
ours.moonshot_changeMoonshotScore movement26 (stored snapshot Oct 4, 2026) → 26 (current publication computed Oct 5, 2026) (0)OURSStock Expert AI current score publication and immutable score snapshots — The current score publication is not yet represented in the immutable snapshot archive.

Fact-family notes

  1. Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs: fin.q_table.depth.2026-06-30.revenue_k, fin.q_table.depth.2026-06-30.rd_k, fin.q_table.depth.2026-06-30.sga_k, fin.q_table.depth.2026-06-30.operating_result_k, fin.q_table.depth.2026-03-31.revenue_k, fin.q_table.depth.2026-03-31.rd_k, fin.q_table.depth.2026-03-31.sga_k, fin.q_table.depth.2026-03-31.operating_result_k, fin.q_table.depth.2025-12-31.revenue_k, fin.q_table.depth.2025-12-31.rd_k, fin.q_table.depth.2025-12-31.sga_k, fin.q_table.depth.2025-12-31.operating_result_k, fin.q_table.depth.2025-09-30.revenue_k, fin.q_table.depth.2025-09-30.rd_k, fin.q_table.depth.2025-09-30.sga_k, fin.q_table.depth.2025-09-30.operating_result_k.
  2. Earnings-history note. Source series as of 2026-07-29. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs: earn.history.depth.2026-07-29.revenue_actual, earn.history.depth.2026-07-29.revenue_estimated, earn.history.depth.2026-07-29.revenue_actual.comparison, earn.history.depth.2026-07-29.eps_actual.comparison, earn.history.depth.2026-07-29.eps_actual, earn.history.depth.2026-07-29.eps_estimated, earn.history.depth.2026-04-29.revenue_actual, earn.history.depth.2026-04-29.revenue_estimated, earn.history.depth.2026-04-29.eps_actual, earn.history.depth.2026-04-29.eps_estimated, earn.history.depth.2026-02-25.revenue_actual, earn.history.depth.2026-02-25.revenue_estimated, earn.history.depth.2026-02-25.eps_actual, earn.history.depth.2026-02-25.eps_estimated, earn.history.depth.2025-10-29.revenue_actual, earn.history.depth.2025-10-29.revenue_estimated, earn.history.depth.2025-10-29.eps_actual, earn.history.depth.2025-10-29.eps_estimated.
  3. Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs: fin.opcf.depth.2026-06-30.operating_cash_flow_m, fin.opcf.depth.2026-03-31.operating_cash_flow_m, fin.opcf.depth.2026-06-30.capex_m, fin.opcf.depth.2026-03-31.capex_m, fin.opcf.depth.2025-12-31.operating_cash_flow_m, fin.opcf.depth.2025-12-31.capex_m, fin.opcf.depth.2025-09-30.operating_cash_flow_m, fin.opcf.depth.2025-09-30.capex_m.
Published
Research standards
Methodology · Editorial policy · Corrections

Sources used for research written 2026-09-13

Historical evidence preserved with this analysis. Current figures are listed separately above.

EvidenceCaptured valueSource dateSource typeSource
Business description
Ionis Pharmaceuticals, Inc., a commercial-stage biotechnology company, provides RNA-targeted medicines in the United States. The company offers TRYNGOLZA reduces triglyceride levels in adults with familial chylomicronemia syndrome (FCS) and acute pancreatitis; DAWNZERA for prophylaxis to prevent attacks of hereditary angioedema in adults; WAINUA for the treatment of the polyneuropathy of hereditary transthyretin-medicated amyloidosis (ATTRv-PN) in adults; and SPINRAZA for pediatric and adult patients with spinal muscular atrophy (SMA). It also provides QALSODY for the treatment of Amyotrophic Lateral Sclerosis (ALS); TEGSEDI for the treatment of ATTRv-PN in adults; and WAYLIVRA for treatment for FCS and familial partial lipodystrophy. It also develops products under Phase 3 clinical trials, such as Olezarsen for patients with hypertriglyceridemia (SHTG) and cardiovascular disease (CVD); and Zilganerse, a potential treatment for people with genetically confirmed Alexander disease, as well as ION582 which is in Phase 3 clinical trial for the potential treatment of AS, a rare genetic neurological disease. In addition, the company develops Eplontersen to degrade mutant and wild-type TTR mRNA through binding to the TTR mRNA; Pelacarsen to inhibit the production of apolipoprotein(a) in the liver to offer a direct approach for reducing lipoprotein(a); Bepirovirsen to inhibit the production of viral proteins associated with hepatitis B virus; Sefaxersen to reduce the production of complement factor B and lower activation of the alternative complement pathway; and Ulefnersen to reduce the production of the fused in sarcoma, as well as other mid-stage pipeline investigational medicines. It has a strategic collaboration with Biogen for the treatment of neurological disorders; and collaboration and license agreement with GSK, AstraZeneca, Novartis, and Roche, as well as with Metagenomi. The company was incorporated in 1989 and is headquartered in Carlsbad, California.
2026-09-13FMPFinancial Modeling Prep (FMP) company profile
Quarterly income statement (USD thousands)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — EPS: -$0.69 per share, R&D: $217.11M, SG&A: $150.40M, EPS basic: -$0.69 per share, EPS basis: diluted, Revenue: $267.95M, EPS diluted: -$0.69 per share, Net result: -$114.65M, Gross profit: $265.21M, Operating result: -$102.29M
  • Quarter ended 2026-03-31 — EPS: -$0.56 per share, R&D: $210.17M, SG&A: $150.36M, EPS basic: -$0.56 per share, EPS basis: diluted, Revenue: $246.09M, EPS diluted: -$0.56 per share, Net result: -$92.53M, Gross profit: $243.11M, Operating result: -$117.42M
  • Quarter ended 2025-12-31 — EPS: -$1.41 per share, R&D: $280.00M, SG&A: $130.00M, EPS basic: -$1.41 per share, EPS basis: diluted, Revenue: $203.00M, EPS diluted: -$1.41 per share, Net result: -$229.00M, Gross profit: $195.00M, Operating result: -$215.00M
  • Quarter ended 2025-09-30 — EPS: -$0.8 per share, R&D: $217.75M, SG&A: $96.80M, EPS basic: -$0.8 per share, EPS basis: diluted, Revenue: $156.72M, EPS diluted: -$0.8 per share, Net result: -$128.61M, Gross profit: $154.38M, Operating result: -$160.18M
  • Quarter ended 2025-06-30 — EPS: $0.68 per share, R&D: $217.46M, SG&A: $90.60M, EPS basic: $0.78 per share, EPS basis: diluted, Revenue: $452.05M, EPS diluted: $0.68 per share, Net result: $123.55M, Gross profit: $447.90M, Operating result: $139.82M
  • Quarter ended 2025-03-31 — EPS: -$0.93 per share, R&D: $200.76M, SG&A: $76.30M, EPS basic: -$0.93 per share, EPS basis: diluted, Revenue: $131.61M, EPS diluted: -$0.93 per share, Net result: -$146.94M, Gross profit: $130.11M, Operating result: -$146.86M
  • Quarter ended 2024-12-31 — EPS: -$0.66 per share, R&D: $245.49M, SG&A: $88.10M, EPS basic: -$0.66 per share, EPS basis: diluted, Revenue: $226.58M, EPS diluted: -$0.66 per share, Net result: -$104.35M, Gross profit: $222.75M, Operating result: -$110.82M
  • Quarter ended 2024-09-30 — EPS: -$0.95 per share, R&D: $219.76M, SG&A: $61.60M, EPS basic: -$0.95 per share, EPS basis: diluted, Revenue: $133.81M, EPS diluted: -$0.95 per share, Net result: -$140.48M, Gross profit: $132.74M, Operating result: -$148.66M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements
Annual revenue and net result (USD millions)
Captured record · 5 entries
  • FY2025 — R&D: $916.00M, Revenue: $944.00M, Period end: 2025-12-31, Net result: -$381.00M
  • FY2024 — R&D: $901.53M, Revenue: $705.14M, Period end: 2024-12-31, Net result: -$453.90M
  • FY2023 — R&D: $899.63M, Revenue: $787.65M, Period end: 2023-12-31, Net result: -$366.29M
  • FY2022 — R&D: $833.00M, Revenue: $587.37M, Period end: 2022-12-31, Net result: -$269.72M
  • FY2021 — R&D: $643.00M, Revenue: $810.46M, Period end: 2021-12-31, Net result: -$28.60M
2025-12-31FMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
Trailing twelve-month ratio set
Quick ratio: 7.72; Current ratio: 7.88; Debt to equity: 5.5; Net margin: -64.6%; Gross margin: 98.2%; Operating margin: -68.1%; Return on assets: -18.9%; Return on equity: -110.8%

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero.

2026-09-13FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm
Cash, investments and debt
Total debt: $2.42B; Liquidity basis: cash and short-term investments; Total liabilities: $2.56B; Cash and short-term investments: $2.05B; Cash and investments: $2.07B; Long-term investments: $19.82M; Long-term investments classification: unclassified

Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.

2026-06-30FMPFinancial Modeling Prep (FMP), from the company's balance sheet
Cash and investment components
Total basis: cash short and long-term investments; Total: $2.07B; Cash and short-term investments: $2.05B; Long-term investments: $19.80M; Long-term investments classification: unclassified

Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures.

2026-06-30COMPUTEDComputed from the balance sheet
Cash and short-term investments over time (USD millions)
Captured record · 8 entries
  • 2026-06-30 — Amount: $2.05B, Cash basis: cash and short-term investments
  • 2026-03-31 — Amount: $1.92B, Cash basis: cash and short-term investments
  • 2025-12-31 — Amount: $2.68B, Cash basis: cash and short-term investments
  • 2025-09-30 — Amount: $2.24B, Cash basis: cash and short-term investments
  • 2025-06-30 — Amount: $2.29B, Cash basis: cash and short-term investments
  • 2025-03-31 — Amount: $2.15B, Cash basis: cash and short-term investments
  • 2024-12-31 — Amount: $2.30B, Cash basis: cash and short-term investments
  • 2024-09-30 — Amount: $2.48B, Cash basis: cash and short-term investments
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's quarterly balance sheets
Cash decline over the reported window
To: 2026-06-30; From: 2024-09-30; Periods: 7; Cash basis: cash and short-term investments; Closing balance: $2.05B; Decline: $428.70M; Opening balance: $2.48B; Average change per period: $61.20M

Change in cash, cash equivalents and short-term investments between the 2024-09-30 and 2026-06-30 balance sheets.; This is a balance change, not operating burn: financing and investing move it too.; Averaged over 7 reporting periods of unequal length.

2026-06-30COMPUTEDComputed from reported balances
Cash runway cross-check (ours)
Years: 4.8; Method: cash and short-term investments of $2054.6M at 2026-06-30 divided by the annualized rate at which operations and capital spending used cash ($425.4M per year); Reaches: 2031-04; Cash basis: cash and short-term investments; Cash: $2.05B; Annualized cash use: $425.40M

Rate taken from operating cash flow less capital expenditure over the 8 most recent reported quarters, annualized.; Measured from operations, not from the change in the cash balance — a company that raised money during the window would otherwise appear to be burning less than it is.; Assumes that rate continues unchanged: it ignores announced cost reductions, financing already arranged and any change in spending.; Assumes the reported cash and short-term investments are realizable for funding operations; restrictions and timing of access are not established by these provider fields. Long-term investments are excluded.; It is a cross-check, not a forecast, and the company's own statement about its runway outranks it.

2026-06-30COMPUTEDComputed from reported cash flow; assumptions stated
Cash against market value
As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: -$363.90M; Total debt: $2.42B; Cash and investments: $2.05B

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them.

2026-06-30COMPUTEDComputed from the balance sheet and the latest market capitalization
Operating cash flow by quarter (USD millions)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — Capital expenditure: -$16.08M, Operating cash flow: $565.53M
  • Quarter ended 2026-03-31 — Capital expenditure: -$21.76M, Operating cash flow: -$792.82M
  • Quarter ended 2025-12-31 — Capital expenditure: -$21.29M, Operating cash flow: -$137.71M
  • Quarter ended 2025-09-30 — Capital expenditure: -$3.31M, Operating cash flow: -$131.44M
  • Quarter ended 2025-06-30 — Capital expenditure: -$14.27M, Operating cash flow: $151.34M
  • Quarter ended 2025-03-31 — Capital expenditure: -$12.58M, Operating cash flow: -$150.77M
  • Quarter ended 2024-12-31 — Capital expenditure: -$25.50M, Operating cash flow: -$116.14M
  • Quarter ended 2024-09-30 — Capital expenditure: -$9.06M, Operating cash flow: -$114.99M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements
Distress and quality screens
Altman Z-score: 1.4; Piotroski F-score: 2

Altman Z below 1.8 is the conventional distress zone. The screen is built for manufacturers and industrials; for banks, insurers and property companies it is not a meaningful reading.

2026-09-13FMPFinancial Modeling Prep (FMP) financial scores
Data Sources & Methodology
Figures come from Financial Modeling Prep (FMP). If FMP has no figure for a ticker, a price or fundamental may come from a Yahoo Finance fallback, or a price from an Alpaca fallback. SEC EDGAR is used only for filing links and company identity details (legal name, address), never for figures. AI analysis by Stock Expert AI proprietary algorithms. Technical indicators via industry-standard calculations. Last updated: .
Data Provenance
Sources: Financial Modeling Prep (FMP) — Primary · Yahoo Finance — Fallback · Alpaca — Tertiary
Last fetched:
Cache TTL: Quote 5min · Profile 7d · Financials 7d · Insider 48h
How we use AI: Numbers are pulled directly from FMP & Yahoo Finance — our AI writes the analysis, it never edits the figures.
Data provided as-is for educational purposes. Not financial advice. Methodology

Data provided for informational purposes only.