$IONS
IONIS PHARMACEUTICALS INC

2022 Q4 Form 10-Q Financial Statement

#000087401522000168 Filed on November 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q4
Revenue $151.9M $159.8M $440.0M
YoY Change -65.48% 20.04% 51.58%
Cost Of Revenue $3.686M $1.515M $2.226M
YoY Change 65.59% -50.8% -32.55%
Gross Profit $148.2M $158.3M $437.8M
YoY Change -66.15% 21.72% 52.54%
Gross Profit Margin 97.57% 99.05% 99.49%
Selling, General & Admin $47.95M $34.42M $37.60M
YoY Change 27.53% 10.69% -72.93%
% of Gross Profit 32.35% 21.75% 8.59%
Research & Development $308.3M $183.0M $179.6M
YoY Change 71.67% -0.96% 5.14%
% of Gross Profit 208.01% 115.63% 41.02%
Depreciation & Amortization $3.637M $4.425M $4.434M
YoY Change -17.97% 2.5% 3.12%
% of Gross Profit 2.45% 2.8% 1.01%
Operating Expenses $356.2M $34.42M $217.2M
YoY Change 64.03% -84.06% -29.85%
Operating Profit -$208.0M -$59.15M $220.6M
YoY Change -194.29% -31.1% -1073.37%
Interest Expense $13.44M $2.139M $4.788M
YoY Change 180.62% -15.95% -578.8%
% of Operating Profit 2.17%
Other Income/Expense, Net $649.0K $4.713M -$477.0K
YoY Change -236.06% -1104.9% -577.0%
Pretax Income -$44.33M -$46.71M $224.9M
YoY Change -119.71% -44.24% -1053.03%
Income Tax $8.100M $300.0K $303.0K
% Of Pretax Income 0.13%
Net Earnings -$52.43M -$46.99M $224.6M
YoY Change -123.34% -43.02% -166.01%
Net Earnings / Revenue -34.52% -29.41% 51.05%
Basic Earnings Per Share -$0.37 -$0.33 $1.59
Diluted Earnings Per Share -$0.37 -$0.33 $1.41
COMMON SHARES
Basic Shares Outstanding 142.1M 142.0M 141.2M
Diluted Shares Outstanding 142.0M 160.3M

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.488B $1.437B $2.115B
YoY Change -29.64% -27.7% 11.76%
Cash & Equivalents $276.5M $315.0M $869.2M
Short-Term Investments $1.212B $1.122B $1.246B
Other Short-Term Assets $168.3M $143.2M $143.4M
YoY Change 17.35% 4.78% 2.26%
Inventory $22.03M $20.65M $24.81M
Prepaid Expenses
Receivables $25.54M $6.645M $61.90M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.203B $2.152B $2.345B
YoY Change -6.07% -0.17% 10.06%
LONG-TERM ASSETS
Property, Plant & Equipment $74.29M $180.8M $196.1M
YoY Change -62.11% 0.37% 0.96%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $75.34M $59.43M $41.57M
YoY Change 81.26% 21.37% 12.65%
Total Long-Term Assets $331.2M $269.8M $266.6M
YoY Change 24.21% 4.13% 2.91%
TOTAL ASSETS
Total Short-Term Assets $2.203B $2.152B $2.345B
Total Long-Term Assets $331.2M $269.8M $266.6M
Total Assets $2.534B $2.422B $2.612B
YoY Change -2.98% 0.29% 9.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.92M $20.55M $11.90M
YoY Change 50.55% 145.84% -30.79%
Accrued Expenses $140.1M $128.0M $130.0M
YoY Change 7.79% 18.52% -17.69%
Deferred Revenue $90.58M $99.51M $97.71M
YoY Change -7.3%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $151.0K $4.970M $926.0K
YoY Change -83.69% -92.36% -99.69%
Total Short-Term Liabilities $311.6M $283.5M $240.6M
YoY Change 29.52% 1.31% -58.76%
LONG-TERM LIABILITIES
Long-Term Debt $1.176B $1.250B $1.228B
YoY Change -4.26% 0.63% 134.45%
Other Long-Term Liabilities $7.126M $294.7M $371.4M
YoY Change -98.08% -18.8% -15.46%
Total Long-Term Liabilities $1.183B $1.544B $1.599B
YoY Change -26.04% -3.77% 66.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $311.6M $283.5M $240.6M
Total Long-Term Liabilities $1.183B $1.544B $1.599B
Total Liabilities $1.961B $1.828B $1.840B
YoY Change 6.58% -3.01% 18.98%
SHAREHOLDERS EQUITY
Retained Earnings -$1.430B -$1.377B -$1.160B
YoY Change 23.25% 2.53%
Common Stock $2.060B $2.035B $1.964B
YoY Change 4.87% 3.63%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $572.9M $594.4M $771.7M
YoY Change
Total Liabilities & Shareholders Equity $2.534B $2.422B $2.612B
YoY Change -2.98% 0.29% 9.28%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q4
OPERATING ACTIVITIES
Net Income -$52.43M -$46.99M $224.6M
YoY Change -123.34% -43.02% -166.01%
Depreciation, Depletion And Amortization $3.637M $4.425M $4.434M
YoY Change -17.97% 2.5% 3.12%
Cash From Operating Activities -$200.2M -$24.43M $203.7M
YoY Change -198.29% -56.04% 107.84%
INVESTING ACTIVITIES
Capital Expenditures $4.139M -$5.542M -$2.502M
YoY Change -265.43% 66.78% -50.94%
Acquisitions
YoY Change
Other Investing Activities $216.3M -$178.4M $97.61M
YoY Change 121.58% -242.38% -49.42%
Cash From Investing Activities $212.1M -$183.9M $95.11M
YoY Change 123.06% -250.8% -49.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -51.02M 1.834M -62.49M
YoY Change -18.36% 25.79% -88.02%
NET CHANGE
Cash From Operating Activities -200.2M -24.43M 203.7M
Cash From Investing Activities 212.1M -183.9M 95.11M
Cash From Financing Activities -51.02M 1.834M -62.49M
Net Change In Cash -39.07M -206.5M 236.3M
YoY Change -116.53% -404.36% -200.3%
FREE CASH FLOW
Cash From Operating Activities -$200.2M -$24.43M $203.7M
Capital Expenditures $4.139M -$5.542M -$2.502M
Free Cash Flow -$204.3M -$18.89M $206.2M
YoY Change -199.1% -63.85% 99.99%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29605000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29005000
dei Entity File Number
EntityFileNumber
000-19125
dei Entity Registrant Name
EntityRegistrantName
Ionis Pharmaceuticals, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
33-0336973
dei Entity Address Address Line1
EntityAddressAddressLine1
2855 Gazelle Court
dei Entity Address City Or Town
EntityAddressCityOrTown
Carlsbad
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
92010
dei City Area Code
CityAreaCode
760
dei Local Phone Number
LocalPhoneNumber
931-9200
dei Security12b Title
Security12bTitle
Common Stock, $.001 Par Value
dei Trading Symbol
TradingSymbol
IONS
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Small Business
EntitySmallBusiness
false
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 ions Long Term Obligations Excluding Convertible Debt Current
LongTermObligationsExcludingConvertibleDebtCurrent
4970000
CY2021Q4 ions Long Term Obligations Excluding Convertible Debt Current
LongTermObligationsExcludingConvertibleDebtCurrent
3526000
CY2022Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
99511000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
97714000
CY2022Q3 ions Long Term Obligations Excluding Convertible Debt Noncurrent
LongTermObligationsExcludingConvertibleDebtNoncurrent
25107000
CY2021Q4 ions Long Term Obligations Excluding Convertible Debt Noncurrent
LongTermObligationsExcludingConvertibleDebtNoncurrent
26378000
CY2022Q3 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
58978000
CY2021Q4 us-gaap Long Term Loans From Bank
LongTermLoansFromBank
59713000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
771737000
CY2021 ions Number Of Significant Customers
NumberOfSignificantCustomers
2
us-gaap Use Of Estimates
UseOfEstimates
<div style="display:none;"><br/></div> <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">Use of Estimates</div> <div><br/></div> <div style="display:none;"><br/></div> <div style="text-align: justify; text-indent: 36pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We prepare our condensed consolidated financial statements in conformity with accounting principles generally accepted in the </span>U.S. that require us to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and accompanying notes. Actual results could differ from our estimates.</div>
CY2021Q2 ions Call Spread
CallSpread
46900000
CY2021Q2 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
136700000
CY2019Q4 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
56100000
CY2021Q2 us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
89800000
CY2019Q4 ions Call Spread
CallSpread
52600000
CY2019Q4 us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
108700000
CY2021Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1618000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-29508000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-6321000
CY2022Q3 ions Number Of Privately Held Companies In Which Entity Has Equity Investment
NumberOfPrivatelyHeldCompaniesInWhichEntityHasEquityInvestment
8
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
23100000
CY2021Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21100000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
69800000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
71900000
CY2022Q3 ions Number Of Publicly Held Companies In Which Entity Has Equity Investment
NumberOfPubliclyHeldCompaniesInWhichEntityHasEquityInvestment
3
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
594361000
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2022
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Central Index Key
EntityCentralIndexKey
0000874015
ions Period After Billing When Payment Is Received
PeriodAfterBillingWhenPaymentIsReceived
P3M
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2022-09-30
dei Document Transition Report
DocumentTransitionReport
false
CY2022Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
142050336
CY2022Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
4713000
CY2021Q3 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-469000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-7923000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-9283000
CY2022Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-8734000
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
0
CY2021Q3 us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
0
CY2022Q3 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
644000
us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
89752000
us-gaap Adjustments To Additional Paid In Capital Other
AdjustmentsToAdditionalPaidInCapitalOther
-136620000
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
10217000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-8627000
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
0
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
7185000
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
632500000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
15525000
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
256963000
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
0
us-gaap Proceeds From Issuance Of Warrants
ProceedsFromIssuanceOfWarrants
89752000
us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
0
us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
136620000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
657000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
ions Number Of Significant Customers
NumberOfSignificantCustomers
2
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.33
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.58
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.53
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.8
ions Amortization Period For Research And Development Expenditures
AmortizationPeriodForResearchAndDevelopmentExpenditures
P5Y
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3600000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-1300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-900000

Files In Submission

Name View Source Status
0000874015-22-000168-index-headers.html Edgar Link pending
0000874015-22-000168-index.html Edgar Link pending
0000874015-22-000168.txt Edgar Link pending
0000874015-22-000168-xbrl.zip Edgar Link pending
ex10-1.htm Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10q.htm Edgar Link pending
ions-20220930.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
ions-20220930_lab.xml Edgar Link unprocessable
ions-20220930_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
ions-20220930_cal.xml Edgar Link unprocessable
form10q_htm.xml Edgar Link completed
report.css Edgar Link pending
Show.js Edgar Link pending
ions-20220930_def.xml Edgar Link unprocessable