Catalyst Dossier · compiled by CeliA 🧫

Ionis Pharmaceuticals, Inc. (IONS)

Pharmaceutical Preparations · market cap $12.2B · as of 2026-06-26

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-07-29

Earnings

Pipeline

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Ionis Pharmaceuticals (IONS) is a Carlsbad-based antisense RNA therapeutics pioneer with a broad pipeline spanning rare diseases, cardiovascular, and neurological indications. The company carries a $12.6B market cap with revenue of $944M in 2025, but reported a net loss of $381M and holds only ~$173M in cash against $579M net debt — implying a critically short reported cash runway. Key near-term catalysts include an estimated October 2026 PDUFA decision and Phase 3 readouts for Olezarsen in FCS through mid-2027.

The catalyst path

2026-07-29Earningsimp 5/10
2026-10-01 (est.)PDUFA · drug candidateimp 8/10
2026-12-15 (est.)Phase 3 · Donidalorsenimp 9/10
2027-02-28 (est.)Phase 1imp 6/10
2027-03-15 (est.)Phase 3 · Olezarsenimp 9/10
2027-06-15 (est.)Phase 3 · Olezarsenimp 9/10

Pipeline

Asset	Phase	Indication
Volanesorsen	Phase 3	Familial Chylomicronemia Syndrome
Olezarsen	Phase 3	Familial Chylomicronemia Syndrome
ISIS-APO(a)Rx	Phase 2	Elevated Lipoprotein(a)
ION224	Phase 2	Steatohepatitis, Nonalcoholic
ISIS 443139 10 mg	Phase 2	Huntington's Disease
Inotersen	Phase 3	FAP
ISIS 113715	Phase 2	Type 2 Diabetes Mellitus
ISIS-GCCRRx	Phase 2	Type 2 Diabetes Mellitus
ION582	Phase 3	Angelman Syndrome
ION363	Phase 3	Amyotrophic Lateral Sclerosis
ISIS EIF4E Rx	Phase 2	Castrate-Resistant Prostate Cancer
ISIS 757456	Phase 2	Mild Hypertension
ISIS 416858	Phase 2	End-stage Renal Disease (ESRD)
ION717	Phase 2	Prion Disease
ISIS-PTP1BRx	Phase 2	Type 2 Diabetes Mellitus
zilganersen	Phase 3	Alexander Disease
ION904	Phase 2	Hypertension
ISIS 104838	Phase 2	Rheumatoid Arthritis
IONIS-DMPKRx	Phase 2	Myotonic Dystrophy Type 1
Alicaforsen	Phase 3	Ulcerative Colitis

Price & technical context

3-month

+5.5%

6-month

-1.0%

12-month

+81.7%

52-wk range

$40.69–$86.50

vs 50-day MA

+5.1%

vs 200-day MA

+4.5%

Realized vol

55.9%

Max drawdown

-50.8%

Daily closes through 2026-07-01. Realized vol annualized; max drawdown over ~2 years.

The full dossier is a Pro feature

Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for IONS (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 20 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.