Ionis Pharmaceuticals (IONS) logo

Ionis Pharmaceuticals (IONS) stock

Antisense medicines , market cap $6.4B

$28.19
-9.06%

As of Tuesday's close · Live for Pro members at the open

Why is IONS down?

Down 9.1% today, more than its biotech peers' 1.4%; no story names it yet.

Fell 37% since Oct 28

Down 37% from Oct 28 to Nov 10.

  • Its Nov 9 results reported TRYNGOLZA sales, net at $9M, from $32M a year before, and the stock fell 21% on Nov 9.

Sources: Price history, Nov 10, 2026; Company release, Nov 9, 2026

−3Long-term trend below a falling 200-day average, down over one year, down over two years

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1 more reason, free with an account →2 more reasons why IONS fell 37% since Oct 28, from its filings, with the other side, the timeline, and its peers, for Pro members.
Quality Score
-8
Poor
In its industry
#265of 281
Checks firing
1of 14
Trending down
From 52-week high
-67.5%
under its best in a year

IONS's Quality Score was unchanged on Tue, Nov 10, at -8.

Follow IONS's trial news. Pro members can get an alert when Ionis Pharmaceuticals files news, and see its trials, share raises, and its CEO's filings.

Get an alert when IONS files news on its trialsSee it live, free until Thursday morning. No account. No card. Then keep going with a free account.

We do the work for you. Every stock is scored and ranked, every 15 seconds while the market is open. Here it's 15 minutes behind. Pro members see it live.

NextQ4 2026“…to sHTG patients across Europe with a final approval decision expected in the fourth quarter of 2026”Regulatory decision · SEC filing · Nov 9
Cash$1.9B in cash. One of the last four quarters brought cash in while the others used it.On Sep 30

Key facts on IONS

Key facts on IONS
Holding it backMoves 9.0% a day with no profit behind it
Its scoreDown:Lowest Quality Score since Apr 2025 Scores before Sep 10, 2026 were rebuilt.
Latest filing8-K, Nov 9 Reported its quarterly results
1 more reason behind IONS's -8, free with an account →5 more reasons behind IONS's -8, for Pro members.

IONS in the news

TodayNo story names it yet.

What's next

Mon Nov 16: UBS Global Biopharma Conference 2026Investor conference · date confirmed.

Expected to report Wed Feb 24, before the open

After its last 4 reports it closed -6.2% on average, higher 1 of 4 times.

3 more dates ahead: conferences, for Pro members.

Tested. Our top-scored stocks returned 2.2x the average stock over the next month. Reconstructed after the fact; recorded live since Sep 9, 2026. How we tested it

Cash$1.9B in cash. One of the last four quarters brought cash in while the others used it.On Sep 30

IONS catalysts

Coming up

8 more coming up and 39 past catalysts since 2018, with sizes and sources, for Pro members.

What's next for IONS, and how long its cash lasts

Next step the company has named

Q4 2026“…triglyceride levels of ≥880 mg/dL [≥10 mmol/L]), paving the way to bring TRYNGOLZA to sHTG patients across Europe with a final approval decision expected in the fourth quarter of 2026”Regulatory decision · SEC filing · Nov 9

What it means: a regulator’s decision on an application to sell the drug.

A trial underway
Long-Term Safety and Efficacy of Donidalorsen in the Prophylactic Treatment of Hereditary AngioedemaPhase 3 · Active · 154 people · main data estimated Dec 2026 · NCT05392114

18 more trials, 2 more milestones and 49 filings, for Pro members.

Cash runway Sep 30 balance sheet

$1.9B in cash

One of the last four quarters brought cash in while the others used it, so an average says little about the next.

What it means: a runway is counted only when each of the last four quarters used cash.

For Pro members: the cash used each quarter, and the math.

Dilution on the horizon

No shelf registration or at-the-market program on file in the last three years.

For Pro members: 1 raise and its amount, and the share count against a year ago.

Insiders

An officer, Shannon L. Devers, sold 1,357 shares on Oct 16. 61 more insider trades this year.

From Form 4: open-market buys and sales only.

For Pro members: every trade, and Brett Monia’s 21 filings and quotes.

See every upcoming FDA date →

FDA dates in the next 60 days

Decision dates and advisory committee meetings the companies have announced in their filings, soonest first and small companies first.

DateStockDrug

14 more FDA dates and 103 trial data dates in the next 60 days, each on the FDA calendar. Pro members see whether each company's cash lasts past its date, with an optional alert before it. See all 151 dates, ranked →

How IONS ranks in Biotech

IONS is #265 of 281 by Quality Score.

How IONS ranks in Biotech
RankStockQuality Score
265Ionis Pharmaceuticals (IONS) logoIONSIonis Pharmaceuticals-8

More in Biotech

When does IONS report earnings, and what happens after?

Expected to report Wed Feb 24, before the open (in 106 days).

What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.

What IONS reported on Nov 9, 2026

The quarter

Sales of $243.0M, 55% more than a year ago; a loss of $0.66 a share, from $0.80.

“This increase was primarily driven by DAWNZERA product sales.”

The quarter that ended Sep 30, from the company's press release

The press releaseThe filing on EDGAR

Where the sales came from

Where the quarter's sales came from
LineQ3
2026
Q2
2026
Q3
2025
By product
Commercial Revenueup 18%$136M22%––$116M44%

Each quarter's sales and their share of its total. Figures as filed (SEC filing, Nov 9)

12 more lines, for Pro members.

The outlook

The outlook the company gave, by period
MeasureFigure
Full year 2026
TRYNGOLZA product salesabout $50Mcut

Figures as filed (SEC filing, Nov 9)

2 more outlook lines, for Pro members.

The numbers

Market value
$6.4B
today
Sales
$960M
down 0.71% on the year
Free cash flow
-$616M
last 12 months

Sales grew 5.3% a year over 5 years, fiscal 2020 to 2025.

Its share count grew 2.8% a year over 5 years.

4 more figures, for Pro members.

No analyst estimates on Breakaway: every figure here is filed.

The whole report on IONS: every line of its sales, every outlook beside the one it replaced, and the company's words, for Pro members.

Close after the report, last 3

+4.3%-2.3%-21.4%
Apr 29Jul 29Nov 9
ReportedGapReaction5
days
Nov 9, 2026Before open-18.1%-21.4%not yet
Jul 29, 2026Before open-0.4%-2.3%-0.4%
Apr 29, 2026Before open+0.4%+4.3%+4.8%

IONS closed higher after 1 of its last 4 reports.

All 4 reports, and IONS's Quality Score going into each

IONS sales and profit by year

Sales and profit by year

Sales grew in four of the last seven years, to $944M in 2025. It made a profit in two of the eight years.

IONS has 1 of 14 chart checks firing

Volume1 of 3 shown
Tight range1 of 3 shown
Buying1 of 3 shown
The other 10 checks on IONS, and all 14 on every stock.Get in free →

IONS RSI today: 17.5, below its 50-day and 200-day averages

Not scored

RSI 17.5, MACD below signal, below both averages. Not scored.

The deep dive on IONS

10 more findings on IONS, each with its source, for Pro members.

IONS share count over time

Shares: 4.0% more than a year ago (to Sep 30).

Shares of IONS outstanding, as filed
Shares
outstanding
As
of
166.5MNov 3, 2026
166.2MJul 23, 2026
165.3MApr 23, 2026
165.2MFeb 19, 2026
Offerings, shelves, and splits of IONS, from its filings
From its
filings
Filed
Priced a sale of sharesSep 10, 2024
Registered shares for a later sale (S-3ASR)Nov 24, 2023

IONS insider trades

One insider bought $1.1M across 2 filings, and 2 insiders sold $61K across 2 filings, in the last 6 months. The newest:

SellShannon L. Devers$59KEVP, Chief Human Resources Ofcat $43.54 on Oct 16, filed Oct 19

All 4 insider filings on IONS from the last six months, for Pro members.

All IONS insider trades

IONS's officers and directors

Officers and directors with a Form 4 in the last 12 months.

12 more officers and directors file at IONS.

See insider trades by person

Which ETFs hold IONS?

In ETFs: IONS is under 0.1% of VTI, the most of the 24 funds Breakaway covers, by their holdings as filed for Jun 30, 2026.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals is the leading developer of antisense technology to discover and develop novel drugs. Its broad clinical and preclinical pipeline targets a wide variety of diseases, with an emphasis on cardiovascular, metabolic, neurological, and rare diseases. Ionis and Biogen brought Spinraza to market in 2016 as a treatment for spinal muscular atrophy, and Biogen launched ALS drug Qalsody in 2023. Ionis brought two additional drugs to market via its cardiovascular-focused subsidiary Akcea, including ATTR amyloidosis drug Tegsedi (2018) and cardiology drug Waylivra (Europe, 2019). Ionis and AstraZeneca launched polyneuropathy drug Wainua in 2024. Ionis marked its first two independent launches in 2025 for Tryngolza (for FCS) and Dawnzera (for HAE).

1,402 employeesCarlsbad, CAionis.com

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  • What would turn IONS's score around: 8 things
  • 7 more filings explained, a plain line each
  • 5 more things pulling IONS's score down
BreakawayJul 31Michael R. Hayden bought IONS$801K at $53.38, filed Jul 31

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See IONS's 14 chart checks

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Straight AnswersStraight Answers

As of Nov 10, 2026: IONS's Quality Score is -8 (Poor), #265 of 281 in Biotech. Insiders bought $1.1M and sold $61K in the last 6 months (Form 4).

What does IONS's Quality Score say?

IONS scores -8 today, which Breakaway calls Poor. It is #265 of 281 in Biotech by Quality Score, with 1 of 14 chart checks firing. Down 37% from Oct 28 to Nov 10. Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.

What is IONS's Quality Score?

IONS scores -8 today, which Breakaway calls Poor (below zero). That is #265 of 281 in Biotech by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind IONS's -8.

Are insiders buying IONS?

One insider bought $1.1M across 2 filings, and 2 insiders sold $61K across 2 filings, in the last 6 months. The newest is Shannon L. Devers, EVP, Chief Human Resources Ofc, who sold $59K on Oct 16. Every filing, with the scored weight, for Pro members.

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What's next for Ionis Pharmaceuticals: from its SEC filings and ClinicalTrials.gov, the company's words, the registry's dates, and arithmetic, not a forecast. Companies often miss the dates they set.

The moves after past earnings reports are past behavior, not a forecast.

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