Ionis Q1 revenue rises 87% on R&D payments boost

Ionis Pharmaceuticals

29/04/2026 12:16

Overview

RNA therapeutics developer's Q1 revenue rose 87% yr/yr, beating analyst expectations

Company posted a net loss as operating expenses rose on commercialization and launch investments

Ionis raised 2026 revenue guidance on strong Q1 performance and positive outlook

Outlook

Ionis raises 2026 total revenue guidance to $875-900 mln from $800-825 mln

Company now sees 2026 TRYNGOLZA sales at $100-110 mln and DAWNZERA sales at $110-120 mln

Ionis increases annual olezarsen peak net sales guidance to >$3 bln for sHTG

Result Drivers

PRODUCT SALES GROWTH - Higher sales of TRYNGOLZA and DAWNZERA drove commercial revenue increase

MILESTONE PAYMENTS - Substantial R&D revenue came from $95 mln in milestone payments from partnerships

COMMERCIALIZATION INVESTMENTS - Operating expenses rose due to investments in commercialization efforts and launch preparations for new drugs

Company press release: ID:nBwtlbSJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total Revenue
Beat
$246 mln
$195.63 mln (16 Analysts)
Q1 Net Income
-$93 mln
Q1 Operating Expenses
$364 mln
Q1 Operating Income
-$118 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Ionis Pharmaceuticals Inc is $104.00, about 44.9% above its April 28 closing price of $71.78

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)