Also trades as: 0JDI.L (LSE) · $vol 0M
IONS NASDAQ
Ionis Pharmaceuticals, Inc.
1W: -3.2%
1M: -3.5%
3M: -18.6%
YTD: -44.8%
1Y: -38.0%
3Y: -4.8%
5Y: +40.5%
$43.96
+0.54 (+1.24%)
After Hours: $43.72 (-0.24, -0.55%)
Weekly Expected Move ±5.4%
$38
$41
$43
$45
$48
Credit Risk of going bust: higher than 52% of companies Debt: 25.1% of company value Bonds: $115.2M held by 65 funds → details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.24 (down 97%), Ionis Pharmaceuticals, Inc. would be worth roughly what it owes.
Total debt $2.42B against a stock market value of $7.22B.
Distance to default 4.94 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.20B (short-term plus half of long-term), stock volatility 44.8%; Altman Z'' 1.30. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
If the stock fell to about $1.24 (down 97%), Ionis Pharmaceuticals, Inc. would be worth roughly what it owes.
Total debt $2.42B against a stock market value of $7.22B.
Distance to default 4.94 (Merton model): prices to 2026-10-26, balance sheet 2026-06-30, debt counted $1.20B (short-term plus half of long-term), stock volatility 44.8%; Altman Z'' 1.30. A ranking and a back-test, not a forecast.
Bond figures are fund-reported marks (SEC N-PORT) as of Jul 2026. How these are computed.
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Income Statement
Cash Flow
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Cash Flow Trends
Operating Cash Flow
-$269M
+46.4% ▲
Capital Expenditures
$51M
-13.6% ▼
5Y CAGR: +4.6%
Free Cash Flow
-$320M
+41.4% ▲
Dividends Paid
$0
+0.0% ▲
Buybacks
$0
+0.0% ▲
Net Change in Cash
$130M
+182.8% ▲
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$29M | -$270M | -$366M | -$454M | -$381M |
| Depreciation & Amort. | $20M | $22M | $22M | $20M | $23M |
| Stock-Based Comp. | $121M | $100M | $106M | $130M | $0 |
| Change in Working Capital | -$114M | $8M | -$77M | -$209M | -$51M |
| Other Non-Cash Items | $8M | -$135M | $8M | $12M | $141M |
| Operating Cash Flow | $31M | -$274M | -$308M | -$501M | -$269M |
| — Investing Activities — | |||||
| Capital Expenditures | -$18M | -$20M | -$24M | -$45M | -$51M |
| Acquisitions (Net) | $6M | $254M | $22K | $0 | $0 |
| Investment Purchases | -$1.1B | -$1.5B | -$1.8B | -$1.9B | -$1.9B |
| Investment Sales | $1.3B | $989M | $1.6B | $1.8B | $1.7B |
| Other Investing | -$6M | $0 | -$4M | -$5M | -$6M |
| Investing Cash Flow | $195M | -$263M | -$214M | -$134M | -$278M |
| — Financing Activities — | |||||
| Net Debt Issuance | $314M | -$51M | $87M | -$45M | $483M |
| Stock Repurchased | -$17M | -$11M | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 |
| Other Financing | -$79M | -$11M | $508M | $0 | $0 |
| Financing Cash Flow | $246M | -$55M | $644M | $478M | $676M |
| Net Change in Cash | $472M | -$593M | $123M | -$157M | $130M |
| Cash End of Period | $869M | $276M | $399M | $242M | $372M |
| Free Cash Flow | $13M | -$294M | -$336M | -$546M | -$320M |