Ionis reported third-quarter revenue of $243 million, up 55% year over year. While management reaffirmed 2026 revenue, operating loss, and cash guidance, it cut 2026 Tryngolza (for sHTG/FCS) revenue guidance by 50% to approximately $50 million, triggering a 21% decline in the shares on Nov. 9.
Ionis' antisense technology and intellectual property estate have allowed the firm to create an entirely new class of therapeutics for difficult-to-treat diseases.
Beyond recent strong collaboration revenue, Ionis has historically been unprofitable, and RNA-based therapies have had a long path to market.
Metric | IONS | VRTX | AMGN |
|---|---|---|---|
Price/Earnings (Normalized) | — | 30.12 | 23.46 |
Price/Book Value | 11.98 | 6.63 | 17.64 |
Price/Sales | 4.86 | 10.80 | 6.55 |
Price/Cash Flow | — | 30.06 | 18.29 |
Metric | IONS | VRTX | AMGN |
|---|---|---|---|
Quick Ratio | 4.53 | 1.72 | 1.01 |
Current Ratio | 5.43 | 2.34 | 1.48 |
Interest Coverage | −6.89 | 94.80 | 5.19 |
Metric | IONS | VRTX | AMGN |
|---|---|---|---|
Return on Assets (Normalized) | −11.66% | 17.70% | 13.57% |
Return on Equity (Normalized) | −76.28% | 25.16% | 117.90% |
Return on Invested Capital (Normalized) | −14.18% | 20.26% | 22.42% |
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United States