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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 received FDA approval in 2024 for Tryngolza for a rare high-triglyceride syndrome, marking its first independent launch.
1989
1.1K+
LTM Revenue $690M
LTM EBITDA -$471M
$3.7B
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Ionis Pharmaceuticals has a last 12-month revenue of $690M and a last 12-month EBITDA of -$471M.
In the most recent fiscal year, Ionis Pharmaceuticals achieved revenue of $705M and an EBITDA of -$354M.
Ionis Pharmaceuticals expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Ionis Pharmaceuticals valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $788M | $705M | XXX | XXX | XXX |
| Gross Profit | $573M | $779M | XXX | XXX | XXX |
| Gross Margin | 73% | 110% | XXX | XXX | XXX |
| EBITDA | -$236M | -$354M | XXX | XXX | XXX |
| EBITDA Margin | -30% | -50% | XXX | XXX | XXX |
| Net Profit | -$270M | -$366M | XXX | XXX | XXX |
| Net Margin | -34% | -52% | XXX | XXX | XXX |
| Net Debt | $914M | $883M | XXX | XXX | XXX |
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As of April 15, 2025, Ionis Pharmaceuticals's stock price is $29.
Ionis Pharmaceuticals has current market cap of $4.6B, and EV of $3.7B.
See Ionis Pharmaceuticals trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $3.7B | $4.6B | XXX | XXX | XXX | XXX | $-3.25 |
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Sign UpAs of April 15, 2025, Ionis Pharmaceuticals has market cap of $4.6B and EV of $3.7B.
Ionis Pharmaceuticals's trades at 5.3x LTM EV/Revenue multiple, and -7.8x LTM EBITDA.
Analysts estimate Ionis Pharmaceuticals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Ionis Pharmaceuticals and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $3.7B | XXX | XXX | XXX |
| EV/Revenue | 5.2x | XXX | XXX | XXX |
| EV/EBITDA | -10.4x | XXX | XXX | XXX |
| P/E | -10.0x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -6.7x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpIonis Pharmaceuticals's NTM/LTM revenue growth is 4%
Ionis Pharmaceuticals's revenue per employee for the last fiscal year averaged $0.7M, while opex per employee averaged $1.1M for the same period.
Over next 12 months, Ionis Pharmaceuticals's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Ionis Pharmaceuticals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Ionis Pharmaceuticals and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | -10% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -50% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 50% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | -46% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.7M | XXX | XXX | XXX | XXX |
| Opex per Employee | $1.1M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | 38% | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 128% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 166% | XXX | XXX | XXX | XXX |
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| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Julphar | XXX | XXX | XXX | XXX | XXX | XXX |
| Benevolent AI | XXX | XXX | XXX | XXX | XXX | XXX |
| Galapagos | XXX | XXX | XXX | XXX | XXX | XXX |
| Pharming | XXX | XXX | XXX | XXX | XXX | XXX |
| Vivoryon Therapeutics | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Ionis Pharmaceuticals acquired XXX companies to date.
Last acquisition by Ionis Pharmaceuticals was XXXXXXXX, XXXXX XXXXX XXXXXX . Ionis Pharmaceuticals acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Ionis Pharmaceuticals founded? | Ionis Pharmaceuticals was founded in 1989. |
| Where is Ionis Pharmaceuticals headquartered? | Ionis Pharmaceuticals is headquartered in United States of America. |
| How many employees does Ionis Pharmaceuticals have? | As of today, Ionis Pharmaceuticals has 1.1K+ employees. |
| Who is the CEO of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's CEO is Dr. Brett P. Monia, PhD. |
| Is Ionis Pharmaceuticals publicy listed? | Yes, Ionis Pharmaceuticals is a public company listed on NAS. |
| What is the stock symbol of Ionis Pharmaceuticals? | Ionis Pharmaceuticals trades under IONS ticker. |
| When did Ionis Pharmaceuticals go public? | Ionis Pharmaceuticals went public in 1991. |
| Who are competitors of Ionis Pharmaceuticals? | Similar companies to Ionis Pharmaceuticals include e.g. Julphar, Benevolent AI, Galapagos, Pharming. |
| What is the current market cap of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's current market cap is $4.6B |
| What is the current revenue of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's last 12-month revenue is $690M. |
| What is the current EBITDA of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's last 12-month EBITDA is -$471M. |
| What is the current EV/Revenue multiple of Ionis Pharmaceuticals? | Current revenue multiple of Ionis Pharmaceuticals is 5.3x. |
| What is the current EV/EBITDA multiple of Ionis Pharmaceuticals? | Current EBITDA multiple of Ionis Pharmaceuticals is -7.8x. |
| What is the current revenue growth of Ionis Pharmaceuticals? | Ionis Pharmaceuticals revenue growth between 2023 and 2024 was -10%. |
| Is Ionis Pharmaceuticals profitable? | Yes, Ionis Pharmaceuticals is EBITDA-positive (as of the last 12 months). |
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