Ionis Pharmaceuticals (NASDAQ: IONS) is a biopharmaceutical company that discovers and develops RNA-targeted therapeutics. Revenue comes from a combination of product sales from its own commercial medicines and partnership revenue, including licensing fees, milestone payments, and royalties from corporate collaborators who develop and commercialize drugs based on Ionis technology. Ionis was incorporated in California in 1989, reincorporated in Delaware in January 1991, and renamed from Isis Pharmaceuticals to Ionis Pharmaceuticals in December 2015. Principal offices are in Carlsbad, California. The company operates through its wholly owned subsidiary Akcea Therapeutics, Inc. Ionis has stated that its ability to secure and maintain effective corporate partnerships and protect its intellectual property are material to sustaining cash flows and achieving consistent profitability.

Revenue model

Revenue is generated through two streams: sales of proprietary commercial products and partnership-derived income including upfront licensing fees, development milestone payments, and royalties from corporate collaborators. The filing excerpts do not provide a revenue breakdown by stream or fiscal year totals.

Products and services

RNA-targeted therapeutics developed using antisense technology. The company holds trademarks under the Ionis and Akcea brands. Specific approved products and pipeline assets are not detailed in the available filing excerpts.

Customers and end markets

Corporate partners in the pharmaceutical industry are a material customer type, providing licensing and milestone revenue. End markets are not specified in the available filing excerpts beyond the general biopharmaceutical sector.

Value-chain role

Drug discoverer and developer using proprietary RNA-targeting platform, licensing technology and compounds to corporate partners while also commercializing select medicines directly through subsidiary Akcea Therapeutics.

Geographic exposure

Principal offices in Carlsbad, California. Geographic revenue mix is not detailed in the available filing excerpts.

Source: SEC 10-K, filed 2026-02-26

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