Ionis Pharmaceuticals Files 10-Q for Period Ending March 31, 2024
Ticker: IONS · Form: 10-Q · Filed: May 7, 2024 · CIK: 874015
Sentiment: neutral
Topics: 10-Q, Ionis Pharmaceuticals, Financial Report, Quarterly Earnings, Biotechnology
TL;DR
<b>Ionis Pharmaceuticals Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024, providing an update on its financial status and operations.</b>
AI Summary
IONIS PHARMACEUTICALS INC (IONS) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Ionis Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (e.g., December 31, 2023, and March 31, 2023) are referenced. The company's business address is 2855 Gazelle Court, Carlsbad, CA 92010. Ionis Pharmaceuticals Inc. operates in the Pharmaceutical Preparations industry (SIC 2834).
Why It Matters
For investors and stakeholders tracking IONIS PHARMACEUTICALS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance data, including revenue streams and balance sheet details, crucial for assessing the company's current health and future prospects. The detailed financial information allows for comparison with previous periods, enabling analysts and investors to identify trends in revenue, debt, and equity, which are vital for investment decisions.
Risk Assessment
Risk Level: medium — IONIS PHARMACEUTICALS INC shows moderate risk based on this filing. The company's financial health and future prospects depend on the success of its drug development pipeline and commercialization efforts, which carry inherent risks of clinical trial failures and market acceptance.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-Q to understand Ionis Pharmaceuticals' performance and potential challenges.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| ResearchAndDevelopmentRevenueMember | ||
| WainuaJointDevelopmentRevenueMember | ||
| OtherCommercialMember | ||
| SpinrazaRoyaltiesMember |
Key Numbers
- 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
- 2024-05-07 — Filing Date (FILED AS OF DATE)
- 2834 — Standard Industrial Classification (STANDARD INDUSTRIAL CLASSIFICATION)
- 1231 — Fiscal Year End (FISCAL YEAR END)
Key Players & Entities
- IONIS PHARMACEUTICALS INC (company) — FILER
- 2855 GAZELLE COURT (address) — BUSINESS ADDRESS
- CARLSBAD (location) — CITY
- CA (location) — STATE
- 92010 (postal_code) — ZIP
- ISIS PHARMACEUTICALS INC (company) — FORMER COMPANY
- 19930328 (date) — DATE OF NAME CHANGE
- 20240331 (date) — CONFORMED PERIOD OF REPORT
FAQ
When did IONIS PHARMACEUTICALS INC file this 10-Q?
IONIS PHARMACEUTICALS INC filed this Quarterly Report (10-Q) with the SEC on May 7, 2024.
What is a 10-Q filing?
A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by IONIS PHARMACEUTICALS INC (IONS).
Where can I read the original 10-Q filing from IONIS PHARMACEUTICALS INC?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by IONIS PHARMACEUTICALS INC.
What are the key takeaways from IONIS PHARMACEUTICALS INC's 10-Q?
IONIS PHARMACEUTICALS INC filed this 10-Q on May 7, 2024. Key takeaways: Ionis Pharmaceuticals Inc. filed a 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial data from previous periods (e.g., December 31, 2023, and March 31, 2023) are referenced..
Is IONIS PHARMACEUTICALS INC a risky investment based on this filing?
Based on this 10-Q, IONIS PHARMACEUTICALS INC presents a moderate-risk profile. The company's financial health and future prospects depend on the success of its drug development pipeline and commercialization efforts, which carry inherent risks of clinical trial failures and market acceptance.
What should investors do after reading IONIS PHARMACEUTICALS INC's 10-Q?
Investors should review the detailed financial statements and risk factors in the 10-Q to understand Ionis Pharmaceuticals' performance and potential challenges. The overall sentiment from this filing is neutral.
Key Dates
- 2024-03-31: Quarterly Period End — Reporting period for the 10-Q filing.
- 2024-05-07: Filing Date — Date the 10-Q was officially submitted to the SEC.
Filing Stats: 4,455 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-05-07 15:55:10
Filing Documents
- form10q.htm (10-Q) — 1506KB
- ex10-1.htm (EX-10.1) — 49KB
- ex31-1.htm (EX-31.1) — 13KB
- ex31-2.htm (EX-31.2) — 13KB
- ex32-1.htm (EX-32.1) — 7KB
- image01.jpg (GRAPHIC) — 11KB
- 0000874015-24-000142.txt ( ) — 7125KB
- ions-20240331.xsd (EX-101.SCH) — 49KB
- ions-20240331_cal.xml (EX-101.CAL) — 83KB
- ions-20240331_def.xml (EX-101.DEF) — 258KB
- ions-20240331_lab.xml (EX-101.LAB) — 696KB
- ions-20240331_pre.xml (EX-101.PRE) — 374KB
- form10q_htm.xml (XML) — 1136KB
Financial Statements
Financial Statements: Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated 4 Condensed Consolidated 5 Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 2023 (unaudited) 7 Notes to Condensed Consolidated Financial 8 ITEM 2:
Management's Discussion and Analysis of Financial Condition
Management's Discussion and Analysis of Financial Condition and Results of Operations: Overview 19 Critical Accounting Estimates 21 Results of Operations 21 Liquidity and Capital Resources 27 ITEM 3:
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 29 ITEM 4:
Controls and Procedures
Controls and Procedures 29 PART II OTHER INFORMATION 29 ITEM 1:
Legal Proceedings
Legal Proceedings 29 ITEM 1A:
Risk Factors
Risk Factors 29 ITEM 2: Unregistered Sales of Equity Securities and Use of Proceeds 45 ITEM 3: Default upon Senior Securities 45 ITEM 4: Mine Safety Disclosures 45 ITEM 5: Other Information 46 ITEM 6: Exhibits 47
SIGNATURES
SIGNATURES 48 TRADEMARKS " Ionis," the Ionis logo, and other trademarks or service marks of Ionis Pharmaceuticals, Inc. appearing in this report are the property of Ionis Pharmaceuticals, Inc. "Akcea," the Akcea logo, and other trademarks or service marks of Akcea Therapeutics, Inc. appearing in this report are the property of Akcea Therapeutics, Inc., Ionis' wholly owned subsidiary. This report contains additional trade names, trademarks and service marks of others, which are the property of their respective owners. Solely for convenience, trademarks and trade names referred to in this report may appear without the or TM symbols. 2 Index
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION ITEM 1.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS IONIS PHARMACEUTICALS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share data) March 31, 2024 December 31 , 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 348,889 $ 399,266 Short-term investments 1,857,327 1,931,935 Contracts receivable 5,140 97,778 Inventories 30,259 28,425 Other current assets 174,060 184,449 Total current assets 2,415,675 2,641,853 Property, plant and equipment, net 72,795 71,043 Right-of-use assets 169,431 171,896 Deposits and other assets 106,027 105,280 Total assets $ 2,763,928 $ 2,990,072 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 13,082 $ 26,027 Accrued compensation 21,537 67,727 Accrued liabilities 106,048 147,894 Income taxes payable 2,210 2,151 0.125 percent convertible senior notes, net 44,377 44,332 Current portion of deferred contract revenue 130,406 151,128 Other current liabilities 9,988 8,831 Total current liabilities 327,648 448,090 Long-term deferred contract revenue 215,088 241,184 1.75 percent convertible senior notes, net 562,964 562,285 0 percent convertible senior notes, net 626,167 625,380 Liability related to sale of future royalties, net 525,072 513,736 Long-term lease liabilities 168,674 170,875 Long-term obligations 41,800 41,836 Total liabilities 2,467,413 2,603,386 Stockholders' equity: Common stock, $ 0.001 par value; 300,000,000 shares authorized, 145,844,719 and 144,340,526 shares issued and outstanding at March 31, 2024 (unaudited) and December 31, 2023 , respectively 146 144 Additional paid-in capital 2,270,047 2,215,098 Accumulated other comprehensive loss ( 34,964 ) ( 32,645 ) Accumulated deficit ( 1,938,714 ) ( 1,795,911 ) Total stockholders' equity 296,515 386,686 Total liabilities and stockholders' equity $ 2,763,928 $ 2,990,072 See