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Ionis Pharmaceuticals Inc balance sheet

At the end of fiscal 2025, Ionis Pharmaceuticals Inc had total assets of $3.52bn, total liabilities of $3.03bn and shareholders' equity of $489m. It held $372m in cash against $1.81bn of debt: net debt of $1.44bn.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents105706512416014312985130279683398869276399242372350
Inventory————————109182225227131051
Total current assets5964833604237368378377981,1692,2082,7212,1312,3452,2032,6422,6202,9912,491
Total assets6575504855468479569489121,3232,6683,2332,3902,6122,5342,9903,0043,5242,995
Accounts payable578101118282125291617121826432848
Deferred revenue (current)76753736485267511251601181089891151797474
Total current liabilities111106767498115149134244280273599241312448309782316
Short-term debt—————————————000432—
Long-term debt11149146———————786539—1,1761,2411,2021,328—
Total debt1291541791491551581502535582788848—1,1941,3081,2531,8121,380
Total liabilities3553063133634696987478139571,4811,5491,6461,8401,9612,6032,4153,0352,555
Shareholders' equity2922451711833782582011002811,0481,471743772573387588489440
Non-controlling interests and other (assets − liabilities − equity)————————84139213———————
Net debt (negative = net cash)248411324−515−128417405303104450−8699189091,0111,4401,030
Shares outstanding99m99m100m101m116m118m120m122m125m138m140m140m141m142m144m158m163m166m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Ionis Pharmaceuticals Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ionis Pharmaceuticals Inc.