Ionis Q2 Revenue Drops 41% to $268M, But TRYNGOLZA Launch Offsets; Reaffirms 2026 Guidance
IONS sits 40% above its 52-week low of $40.03.
Summary
Ionis reported Q2 2026 revenue of $268M, down 41% year-over-year due to a one-time upfront payment in Q2 2025, but up 56% excluding that item. Operating loss widened to $102M GAAP as the company invests in commercial launches. TRYNGOLZA, approved in late June for severe hypertriglyceridemia, generated $5M in Q2 sales with early launch momentum; full-year guidance of $100-110M is in line with 2025 levels. DAWNZERA sales jumped 63% sequentially to $26M, on track for $110-120M in 2026. Cash stands at $2.1B, supporting the pipeline. This follows the recent FDA approval of TRYNGOLZA and the failed CARDIO-TTRansform trial for eplontersen in ATTR-CM. The company reaffirmed its 2026 financial guidance and cashflow breakeven target for 2028. Key catalysts ahead: zilganersen approval and launch for Alexander disease, pelacarsen HORIZON cardiovascular outcomes data, and bepirovirsen global launch for chronic hepatitis B, all expected in H2 2026.
At the time of this announcement, IONS was trading at $56.09 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $9.1B. The 52-week trading range was $40.03 to $86.74. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: BusinessWire.