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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 $716M
LTM EBITDA -$455M
$4.6B
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Ionis Pharmaceuticals has a last 12-month revenue (LTM) of $716M and a last 12-month EBITDA of -$455M.
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| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $716M | XXX | $705M | XXX | XXX | XXX |
| Gross Profit | $703M | XXX | $694M | XXX | XXX | XXX |
| Gross Margin | 98% | XXX | 98% | XXX | XXX | XXX |
| EBITDA | -$455M | XXX | -$354M | XXX | XXX | XXX |
| EBITDA Margin | -64% | XXX | -50% | XXX | XXX | XXX |
| EBIT | -$481M | XXX | -$475M | XXX | XXX | XXX |
| EBIT Margin | -67% | XXX | -67% | XXX | XXX | XXX |
| Net Profit | -$465M | XXX | -$454M | XXX | XXX | XXX |
| Net Margin | -65% | XXX | -64% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $1.0B | XXX | XXX | XXX |
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As of May 30, 2025, Ionis Pharmaceuticals's stock price is $34.
Ionis Pharmaceuticals has current market cap of $5.3B, and EV of $4.6B.
See Ionis Pharmaceuticals trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $4.6B | $5.3B | XXX | XXX | XXX | XXX | $-3.10 |
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Start Free TrialAs of May 30, 2025, Ionis Pharmaceuticals has market cap of $5.3B and EV of $4.6B.
Ionis Pharmaceuticals's trades at 6.5x EV/Revenue multiple, and -13.0x EV/EBITDA.
Equity research analysts estimate Ionis Pharmaceuticals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Ionis Pharmaceuticals has a P/E ratio of -11.5x.
See valuation multiples for Ionis Pharmaceuticals and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $5.3B | XXX | $5.3B | XXX | XXX | XXX |
| EV (current) | $4.6B | XXX | $4.6B | XXX | XXX | XXX |
| EV/Revenue | 6.4x | XXX | 6.5x | XXX | XXX | XXX |
| EV/EBITDA | -10.1x | XXX | -13.0x | XXX | XXX | XXX |
| EV/EBIT | -9.6x | XXX | -9.7x | XXX | XXX | XXX |
| EV/Gross Profit | 6.5x | XXX | n/a | XXX | XXX | XXX |
| P/E | -11.5x | XXX | -11.8x | XXX | XXX | XXX |
| EV/FCF | -8.8x | XXX | -8.3x | 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.
Start Free TrialIonis Pharmaceuticals's last 12 month revenue growth is 10%
Ionis Pharmaceuticals's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $1.1M for the same period.
Ionis Pharmaceuticals's rule of 40 is -20% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Ionis Pharmaceuticals's rule of X is -38% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for Ionis Pharmaceuticals and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 10% | XXX | 11% | XXX | XXX | XXX |
| EBITDA Margin | -64% | XXX | -50% | XXX | XXX | XXX |
| EBITDA Growth | 5% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | -20% | XXX | -40% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | -38% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $1.1M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 128% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 166% | 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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Start Free Trial| 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 $5.3B |
| What is the current revenue of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's last 12 months revenue is $716M. |
| What is the current revenue growth of Ionis Pharmaceuticals? | Ionis Pharmaceuticals revenue growth (NTM/LTM) is 10%. |
| What is the current EV/Revenue multiple of Ionis Pharmaceuticals? | Current revenue multiple of Ionis Pharmaceuticals is 6.4x. |
| Is Ionis Pharmaceuticals profitable? | Yes, Ionis Pharmaceuticals is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's last 12 months EBITDA is -$455M. |
| What is Ionis Pharmaceuticals's EBITDA margin? | Ionis Pharmaceuticals's last 12 months EBITDA margin is -64%. |
| What is the current EV/EBITDA multiple of Ionis Pharmaceuticals? | Current EBITDA multiple of Ionis Pharmaceuticals is -10.1x. |
| What is the current FCF of Ionis Pharmaceuticals? | Ionis Pharmaceuticals's last 12 months FCF is -$522M. |
| What is Ionis Pharmaceuticals's FCF margin? | Ionis Pharmaceuticals's last 12 months FCF margin is -73%. |
| What is the current EV/FCF multiple of Ionis Pharmaceuticals? | Current FCF multiple of Ionis Pharmaceuticals is -8.8x. |
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