Ionis Pharmaceuticals, Inc
(NASDAQ:IONS)

Ionis Pharmaceuticals, Inc. discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an injection for the treatment of polyneuropathy of hereditary transthyretin-mediated amyloidosis...

Website: http://www.ionispharma.com

Founded: 1989

Full Time Employees: 817

Sector: Healthcare

Industry: Biotechnology

Pharmaceuticals

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Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30	2002-06-30	2002-03-31	2001-09-30	2001-06-30	2001-03-31

revenue:
commercial revenue:
product sales	57,962,000	31,792,000	19,273,000	6,287,000																	19,437,000	19,040,000	16,364,000	15,159,000	13,690,000	11,945,000
royalty revenue	75,718,000	75,694,000	69,952,000	64,166,000
other commercial revenue	7,645,000	8,112,000	13,531,000	5,715,000	12,103,000	13,152,000	11,512,000	20,013,000	16,977,000	16,828,000	16,885,000
total commercial revenue	141,325,000	115,598,000	102,756,000	76,168,000	85,716,000	75,731,000	72,036,000	59,593,000	78,845,000	84,081,000	77,897,000	67,768,000	80,479,000	72,410,000	78,184,000	72,285,000	87,266,000	84,820,000	85,861,000	84,448,000	95,664,000	95,340,000	89,734,000	83,961,000	100,365,000	95,699,000	88,299,000	68,088,000	72,947,000	82,756,000	57,198,000	42,023,000	56,609,000	33,769,000	22,923,000	8,758,000
research and development revenue:
collaborative agreement revenue	52,398,000	31,436,000	336,921,000	45,031,000	96,894,000	44,883,000	141,524,000	49,345,000	179,144,000	44,167,000	91,013,000	38,334,000	49,940,000	69,250,000	38,247,000	49,784,000
wainua joint development revenue	9,607,000	9,685,000	12,372,000	10,413,000	43,966,000	13,200,000	11,690,000	10,559,000
total research and development revenue	62,005,000	41,121,000	349,293,000	55,444,000	140,860,000	58,083,000	153,214,000	59,904,000	245,660,000	60,126,000	110,514,000	62,756,000	71,410,000	87,357,000	55,607,000	69,634,000
total revenue	203,330,000	156,719,000	452,049,000	131,612,000	226,576,000	133,814,000	225,250,000	119,497,000	324,505,000	144,207,000	188,411,000	130,524,000	151,889,000	159,767,000	133,791,000	141,919,000	440,006,000	133,093,000	125,750,000	111,607,000	290,281,000	160,079,000	145,537,000	133,367,000	493,681,000	167,892,000	163,813,000	297,214,000	192,115,000	145,395,000	117,747,000	144,419,000	172,299,000	120,911,000	104,152,000	110,304,000	160,348,000	110,927,000	38,470,000	36,874,000	51,570,000	49,121,000	120,428,000	62,583,000	84,861,000	44,063,000	57,076,000	28,161,000	42,249,000	23,585,000	38,092,000	43,360,000	19,873,000	11,601,000	47,340,000	23,235,000	32,403,000	20,713,000	24,823,000	21,147,000	26,420,000	28,624,000	23,503,000	29,926,000	32,262,000	26,771,000	30,992,000	31,576,000	20,661,000	32,215,000	32,961,000	21,354,000	38,631,000	3,813,000	2,450,000	11,945,000	3,253,000	4,375,000	4,958,000	14,641,000	7,458,000	10,592,000	7,442,000	9,093,000	9,843,000	12,303,000
yoy	-10.26%	17.12%	100.69%	10.14%	-30.18%	-7.21%	19.55%	-8.45%	113.65%	-9.74%	40.82%	-8.03%	-65.48%	20.04%	6.39%	27.16%	51.58%	-16.86%	-13.60%	-16.32%	-41.20%	-4.65%	-11.16%	-55.13%	156.97%	15.47%	39.12%	105.80%	11.50%	20.25%	13.05%	30.93%	7.45%	9.00%	170.74%	199.14%	210.93%	125.82%	-68.06%	-41.08%	-39.23%	11.48%	111.00%	122.23%	100.86%	86.83%	49.84%	-35.05%	112.59%	103.30%	-19.54%	86.62%	-38.67%	-43.99%	90.71%	9.87%	22.65%	-27.64%	5.62%	-29.34%	-18.11%	6.92%	-24.16%	-5.23%	56.15%	-16.90%	-5.97%	47.87%	-46.52%	744.87%	1245.35%	78.77%	1087.55%	-12.85%	-50.58%	-18.41%	-56.38%	-58.70%	-33.38%	61.01%	-24.23%	-13.91%
qoq	29.74%	-65.33%	243.47%	-41.91%	69.32%	-40.59%	88.50%	-63.18%	125.03%	-23.46%	44.35%	-14.07%	-4.93%	19.42%	-5.73%	-67.75%	230.60%	5.84%	12.67%	-61.55%	81.34%	9.99%	9.13%	-72.99%	194.05%	2.49%	-44.88%	54.71%	32.13%	23.48%	-18.47%	-16.18%	42.50%	16.09%	-5.58%	-31.21%	44.55%	188.35%	4.33%	-28.50%	4.99%	-59.21%	92.43%	-26.25%	92.59%	-22.80%	102.68%	-33.35%	79.14%	-38.08%	-12.15%	118.19%	71.30%	-75.49%	103.74%	-28.29%	56.44%	-16.56%	17.38%	-19.96%	-7.70%	21.79%	-21.46%	-7.24%	20.51%	-13.62%	-1.85%	52.83%	-35.87%	-2.26%	54.36%	-44.72%	913.14%	55.63%	-79.49%	267.20%	-25.65%	-11.76%	-66.14%	96.31%	-29.59%	42.33%	-18.16%	-7.62%	-20.00%
expenses:
cost of sales	7,957,000	2,338,000	4,151,000	1,463,000	3,830,000	1,071,000	4,164,000	2,151,000	3,062,000	2,191,000	2,537,000	1,343,000	3,686,000	1,515,000	4,745,000	4,170,000	2,226,000	3,079,000	2,958,000	2,578,000
research, development and patent	279,646,000	217,754,000	217,460,000	200,759,000	245,490,000	219,761,000	222,064,000	214,215,000	256,555,000	215,330,000	229,927,000	197,813,000	308,272,000	182,990,000	180,758,000	161,126,000	179,575,000	184,770,000	139,306,000	139,801,000	170,779,000	125,083,000	122,264,000	116,952,000	148,740,000	104,366,000	106,165,000	106,417,000	113,451,000	95,255,000	101,830,000	104,067,000	128,286,000	80,214,000	83,506,000	82,638,000
selling, general and administrative	130,186,000	96,809,000	90,622,000	76,250,000	88,079,000	61,638,000	65,113,000	52,644,000	71,011,000	69,951,000	46,142,000	45,516,000	47,950,000	34,416,000	33,802,000	34,127,000	37,600,000	31,093,000	56,455,000	61,199,000	138,867,000	68,447,000	72,015,000	74,994,000	83,276,000	60,036,000	75,111,000	68,221,000	66,059,000	68,712,000	66,198,000	43,653,000	45,706,000	26,788,000	22,317,000	13,677,000																																	3,301,500	4,571,000	4,899,000	3,736,000	4,278,000	3,089,000	3,402,000	4,520,000	2,823,000
total operating expenses	417,789,000	316,901,000	312,233,000	278,472,000	337,399,000	282,470,000	291,341,000	269,010,000	330,628,000	287,472,000	278,606,000	244,672,000	359,908,000	218,921,000	219,305,000	199,423,000	219,401,000	218,942,000	198,719,000	203,578,000	312,947,000	196,616,000	197,291,000	194,494,000	233,027,000	165,369,000	182,640,000	175,679,000	181,330,000	163,967,000	168,028,000	147,720,000	173,992,000	107,002,000	105,823,000	96,315,000	119,193,000	94,819,000	87,397,000	91,526,000	114,511,000	97,259,000	75,782,000	71,913,000	74,780,000	65,556,000	63,726,000	57,828,000	62,107,000	49,090,000	46,020,000	41,735,000	45,992,000	39,647,000	43,644,000	41,690,000	51,019,000	43,029,000	38,883,000	37,255,000	42,278,000	37,571,000	42,175,000	34,806,000	43,933,000	37,167,000	35,819,000	32,218,000	17,433,000	36,539,000	36,094,000	30,185,000	28,574,000	23,473,000	23,351,000	28,681,000	21,517,000	21,477,000	20,974,000	23,249,000	19,602,000	23,515,000	30,949,000	31,473,000	31,183,000	34,638,000
income from operations			139,816,000	-146,860,000	-110,823,000	-148,656,000	-66,091,000	-149,513,000	-6,123,000	-143,265,000	-90,195,000	-114,148,000	-208,019,000	-59,154,000	-85,514,000	-57,504,000	220,605,000	-85,849,000	-72,969,000	-91,971,000	-22,666,000	-36,537,000	-51,754,000	-61,127,000	260,654,000	2,523,000	-18,827,000	121,535,000	10,785,000	-18,572,000	-50,281,000	-3,301,000	-1,693,000	13,909,000	-1,671,000	13,989,000	41,155,000	16,108,000	-48,927,000	-54,652,000	-62,941,000	-48,138,000	44,646,000	-9,330,000	10,081,000	-21,493,000	-6,650,000	-29,667,000				1,625,000			3,696,000																		10,057,000									-12,923,000
yoy			-311.55%	-1.77%	1709.95%	3.76%	-26.72%	30.98%	-97.06%	142.19%	5.47%	98.50%	-194.29%	-31.10%	17.19%	-37.48%	-1073.29%	134.96%	40.99%	50.46%	-108.70%	-1548.16%	174.89%	-150.30%	2316.82%	-113.58%	-62.56%	-3781.76%	-737.03%	-233.53%	2909.04%	-123.60%	-104.11%	-13.65%	-96.58%	-125.60%	-165.39%	-133.46%	-209.59%	485.77%	-724.35%	123.97%	-771.37%	-68.55%				-1925.66%
qoq			-195.20%	32.52%	-25.45%	124.93%	-55.80%	2341.83%	-95.73%	58.84%	-20.98%	-45.13%	251.66%	-30.83%	48.71%	-126.07%	-356.97%	17.65%	-20.66%	305.77%	-37.96%	-29.40%	-15.33%	-123.45%	10231.11%	-113.40%	-115.49%	1026.89%	-158.07%	-63.06%	1423.21%	94.98%	-112.17%	-932.38%	-111.95%	-66.01%	155.49%	-132.92%	-10.48%	-13.17%	30.75%	-207.82%	-578.52%	-192.55%	-146.90%	223.20%	-77.58%
operating margin %	0%	0%	30.93%	-111.59%	-48.91%	-111.09%	-29.34%	-125.12%	-1.89%	-99.35%	-47.87%	-87.45%	-136.95%	-37.03%	-63.92%	-40.52%	50.14%	-64.50%	-58.03%	-82.41%	-7.81%	-22.82%	-35.56%	-45.83%	52.80%	1.50%	-11.49%	40.89%	5.61%	-12.77%	-42.70%	-2.29%	-0.98%	11.50%	-1.60%	12.68%	25.67%	14.52%	-127.18%	-148.21%	-122.05%	-98.00%	37.07%	-14.91%	11.88%	-48.78%	-11.65%	-105.35%	0%	0%	0%	3.75%	0%	0%	7.81%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	26.03%	0%	0%	0%	0%	0%	0%	0%	0%	-122.01%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
other income:
investment income	24,730,000	23,682,000	24,687,000	24,667,000	28,910,000	26,228,000	25,599,000	26,285,000	25,686,000	23,935,000	20,792,000	18,627,000	11,884,000	7,524,000	3,403,000	1,993,000	1,808,000	872,000	2,734,000	4,643,000	4,649,000	6,454,000	9,243,000	10,479,000	13,190,000	13,136,000	13,735,000	12,142,000	11,476,000	9,963,000	5,134,000	3,610,000	301,000	2,811,000	2,465,000	2,280,000	1,504,000	989,000	1,466,000	1,457,000	1,356,000	1,185,000	917,000	845,000	679,000	675,000	671,000	657,000	685,000	434,000	589,000	376,000	359,000	408,000	477,000	600,000	518,000	575,000	616,000	705,000	780,000	776,000	859,000	955,000	1,118,000	1,430,000	1,678,000	2,192,000	-1,743,000	7,546,000	560,000	4,956,000	2,603,000	3,053,000	3,401,000	2,123,000	1,682,000	1,344,000	811,000	2,999,000	1,241,000	349,000	504,000	561,000	842,000	1,133,000
interest expense				-4,108,000	-4,191,000	-4,161,000	-4,490,000	-4,151,000	-4,558,000	-4,203,000	-2,291,000	-1,608,000	-1,731,000	-2,139,000	-2,130,000	-2,122,000	-2,238,000	-2,340,000	-2,357,000	-2,414,000	-11,506,000	-11,321,000	-11,173,000	-10,990,000	-13,364,000	-12,002,000	-11,802,000	-11,599,000	-11,457,000	-11,282,000	-11,113,000	-10,938,000	-10,786,000	-10,825,000	-11,778,000	-11,363,000	-9,934,000	-9,746,000	-9,625,000	-9,490,000	-9,351,000	-9,233,000	-9,127,000	-9,021,000	-7,307,000	-4,998,000	-4,961,000	-4,943,000																																		-7,085,000
interest expense related to sale of future royalties				-18,822,000	-18,669,000	-18,533,000	-18,296,000	-17,959,000	-17,849,000	-17,779,000	-17,655,000	-15,515,000
gain on investments	788,000	29,908,000		-2,164,000	-80,250	879,000	-3,533,000	2,333,000	-161,000	-1,943,000	718,000		3,283,000	2,347,000	-6,337,000		5,218,000	4,013,000	860,000		5,818,000	835,000	9,625,000																		-125,000	199,000	1,000		581,000	538,000	-260,000	397,000	305,000	175,000	840,000	1,058,000	1,446,000		2,000	17,000		18,000	34,000						-710,000	123,000	2,612,000							1,989,000	1,521,000			2,263,000
other income	232,250	363,000	102,000	465,000	314,000	142,000	610,000	277,000	399,000	2,447,000	11,183,000	230,000	-1,980,750	4,713,000		187,000	-164,000	-469,000		3,000	-30,500	126,000	-149,000		-83,000	-140,000	-45,000		-36,250	-22,000	45,000
loss before income tax benefit					-107,039,000	-144,101,000							-44,330,000	-46,709,000			-63,516,000	-83,773,000	-80,548,000	-89,739,000																				-62,685,000				-17,506,000				-33,556,000
income tax benefit			20,000		2,690,000	3,621,000							-8,100,000	-283,000			-303,000	1,307,000	-327,000	-130,000	-317,781,000	-2,648,000	439,000	3,257,000	-34,303,000	14,915,000	6,927,000								-222,000				231,000	-232,000			-789,000	789,000	15,409,000	-1,398,000	-881,000	2,276,000	-523,000	5,193,000	1,181,000	64,000	8,405,000	706,000											1,156,250	3,968,000		717,000
net income			123,551,000	-146,938,000	-104,349,000	-140,480,000	-66,265,000	-142,803,000	-9,263,000	-147,410,000	-85,290,000	-124,323,000	-52,430,000	-46,992,000	-105,135,000	-65,165,000	224,613,000	-82,466,000	-80,875,000	-89,869,000	-341,426,000	-43,091,000	-43,769,000	-58,480,000	203,958,000	18,432,000	-10,012,000	90,884,000	302,732,000	-20,365,000	-56,573,000	-10,812,000	-4,660,000	-4,896,000	-11,206,000	3,468,000	25,865,000	7,351,000	-56,855,000	-62,917,000	-71,433,000	-35,776,000	35,648,000	-16,717,000	31,053,000	-26,676,000	-12,081,000	-31,280,000	-24,276,000	-24,570,000	-10,126,000	-1,672,000	-2,637,000	-37,639,000	-1,207,000	-23,995,000	-16,191,250	-26,882,000	-17,889,000	-19,994,000					-8,445,000			170,930,000		3,188,000			20,007,000									-19,659,000
yoy			-286.45%	2.90%	1026.51%	-4.70%	-22.31%	14.86%	-82.33%	213.69%	-18.88%	90.78%	-123.34%	-43.02%	30.00%	-27.49%	-165.79%	91.38%	84.78%	53.67%	-267.40%	-333.78%	337.17%	-164.35%	-32.63%	-190.51%	-82.30%	-940.58%	-6596.39%	315.95%	404.85%	-411.76%	-118.02%	-166.60%	-80.29%	-105.51%	-136.21%	-120.55%	-259.49%	276.37%	-330.04%	34.11%	-395.07%	-46.56%	-227.92%	8.57%	19.31%	1770.81%	820.59%	-34.72%	738.94%	-93.03%	-83.71%	40.02%	-93.25%	20.01%
qoq			-184.08%	40.81%	-25.72%	112.00%	-53.60%	1441.65%	-93.72%	72.83%	-31.40%	137.12%	11.57%	-55.30%	61.34%	-129.01%	-372.37%	1.97%	-10.01%	-73.68%	692.34%	-1.55%	-25.16%	-128.67%	1006.54%	-284.10%	-111.02%	-69.98%	-1586.53%	-64.00%	423.24%	132.02%	-4.82%	-56.31%	-423.13%	-86.59%	251.86%	-112.93%	-9.63%	-11.92%	99.67%	-200.36%	-313.24%	-153.83%	-216.41%	120.81%	-61.38%	28.85%	-1.20%	142.64%	505.62%	-36.59%	-92.99%	3018.39%	-94.97%	48.20%	-39.77%	50.27%	-10.53%
net income margin %	0%	0%	27.33%	-111.64%	-46.05%	-104.98%	-29.42%	-119.50%	-2.85%	-102.22%	-45.27%	-95.25%	-34.52%	-29.41%	-78.58%	-45.92%	51.05%	-61.96%	-64.31%	-80.52%	-117.62%	-26.92%	-30.07%	-43.85%	41.31%	10.98%	-6.11%	30.58%	157.58%	-14.01%	-48.05%	-7.49%	-2.70%	-4.05%	-10.76%	3.14%	16.13%	6.63%	-147.79%	-170.63%	-138.52%	-72.83%	29.60%	-26.71%	36.59%	-60.54%	-21.17%	-111.08%	-57.46%	-104.18%	-26.58%	-3.86%	-13.27%	-324.45%	-2.55%	-103.27%	-49.97%	-129.78%	-72.07%	-94.55%	0%	0%	0%	0%	-26.18%	0%	0%	541.33%	0%	9.90%	0%	0%	51.79%	0%	0%	0%	0%	0%	0%	0%	0%	-185.60%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
basic and diluted net loss per share				-0.93	-0.66	-0.95	-0.45	-0.98	-0.06	-1.03	-0.6	-0.87	-0.37	-0.33	-0.74	-0.46	-0.45	-0.58	-0.57	-0.64															-0.09					-0.52	-0.6	-0.3		-0.14			-0.1	-0.27	-0.22	-0.21	-0.09	-0.02	-0.02	-0.37	-0.01	-0.24	-0.163	-0.27	-0.18												-0.02	-0.05	-1.25	-0.13	-0.16	-0.18	-0.16	-0.03	-0.24	-0.07	-0.24	-0.34	-0.52	-0.57	-0.47	-0.47
shares used in computing basic and diluted net loss per share	794	159,765		158,735	2,811	148,593	145,958	145,538	138	143,317	143,098	142,735	66	141,950	141,794	141,599	35,239.5	141,139	140,962	140,770															123,989					120,598	159	119,979		118,948			117,588	117,128	1,894	115,263	108,539	101,875	225	100,680	100,213	100,157	24,905	99,687	99,602	99,569											94,675	90,799	83,942	82,548	82,456	1,374	73,588	72,822	72,377	3,143	64,086	57,524	57,521	57,267	56,111	55,858
loss on investments												-529,000				-6,625,000
income before income tax benefit			123,531,000																		-23,645,000	-40,443,000	-44,208,000	-61,737,000	238,261,000	3,517,000	-16,939,000																36,437,000		-17,508,750	-25,278,000
basic net income per share			0.78																		-2.43	-0.22	-0.23	-0.35	1.31	0.19	-0.01	0.63	2.42	-0.03	-0.29	-0.01	0.06			0.03	-0.233	0.06	-0.47				0.3
diluted net income per share			0.7																		-2.43	-0.22	-0.23	-0.35	1.29	0.18	-0.01	0.62	2.4	-0.03	-0.29	-0.01	0.06			0.03	-0.233	0.06	-0.47				0.29
shares used in computing basic net income per share			159,137																		115	139,708	139,352	139,429	198	140,551	140,247	138,582	-198	143,314	128,712	125,330	270	124,370		122,861	30,198.75	120,989	120,798				119,742																						24,497	98,320	98,116	97,521
shares used in computing diluted net income per share			182,331																		115	139,708	139,352	139,429	51	143,408	140,247	141,537	1,538	143,314	128,712	125,330	240	124,370		124,972	30,198.75	123,378	120,798				127,779																						24,497	98,320	98,116	111,274
loss before income tax expense				-146,822,000			-66,201,000	-142,728,000	-82,799,500	-140,808,000	-77,448,000	-112,943,000			-102,875,000	-64,071,000													-21,730,750	-19,913,000					-10,984,000						-4,211,250	-35,776,000					-11,200,000
income tax expense				-116,000			-64,000	-75,000	-6,456,250	-6,602,000	-7,842,000	-11,380,000			-2,260,000	-1,094,000												-31,047,000	-206,000	-452,000	-358,000	-15,000	-296,000	-961,000			-250
spinraza royalties					63,684,000	57,208,000	56,743,000	38,455,000	61,868,000	67,253,000	61,012,000	50,247,000	67,222,000	61,647,000	59,627,000	53,818,000	69,050,000	66,572,000	72,168,000	59,986,000	74,658,000	74,171,000	71,746,000	66,008,000	81,108,000	81,672,000	70,502,000	59,711,000	70,187,000	70,010,000	56,653,000	41,081,000	52,073,000	32,890,000	22,366,000	5,211,000
wainua royalties					9,929,000	5,371,000	3,781,000	1,125,000
eplontersen joint development revenue									14,970,750	15,959,000	19,501,000	24,422,000	21,470,000	18,107,000	17,360,000	19,850,000
tegsedi and waylivra revenue												6,478,000	7,584,000	5,920,000	10,386,000	6,160,000	8,599,000	15,519,000	11,544,000	19,838,000
licensing and other royalty revenue												11,043,000	5,673,000	4,843,000	8,171,000	12,307,000	9,617,000	2,729,000	2,149,000	4,624,000	1,569,000	2,129,000	1,624,000	2,794,000	5,567,000	2,082,000	7,932,000	1,623,000	523,000	12,746,000	545,000	942,000	4,536,000	879,000	557,000	3,547,000
other expense															-12,297,000																					-1,438,000
research and development revenue under collaborative agreements																	352,740,000	48,273,000	39,889,000	27,159,000	194,617,000	64,739,000	55,803,000	49,406,000	393,316,000	72,193,000	75,514,000	229,126,000	119,168,000	62,639,000	60,549,000	102,396,000	115,690,000	87,142,000	81,229,000	101,546,000	159,315,000	108,913,000	22,455,000	35,214,000	50,891,000	48,918,000	119,658,000	61,892,000	82,539,000	43,798,000	56,628,000	19,550,000	41,276,000	23,383,000	37,615,000	41,921,000	19,015,000	11,127,000	47,140,000	21,818,000	31,682,000	20,189,000	24,305,000	20,014,000	25,437,000	27,785,000	21,143,000	28,556,000	21,716,000	25,962,000	30,768,000	29,685,000	20,114,000	31,240,000	26,814,000	20,686,000	11,921,000	3,482,000	2,002,000	3,831,000	2,469,000	4,322,000	4,468,000	3,915,000	7,122,000	10,438,000	7,135,000	9,055,000	8,217,000	6,998,000
loss on early retirement of debt																			-8,627,000
net loss attributable to noncontrolling interest in akcea therapeutics, inc.																					1,155,000	12,147,000	11,924,000	10,254,000	-19,542,000	7,732,000	9,136,000	-6,441,000	17,344,000	15,806,000	16,215,000	9,392,000	7,406,000	3,920,000
net loss attributable to ionis pharmaceuticals, inc. common stockholders																	-63,302,500	-82,466,000	-80,875,000	-89,869,000
other expenses																			-189,000					-99,000				-147,000				-168,000	-20,000	-2,141,000
cost of products sold																					3,301,000	3,086,000	3,012,000	2,548,000	1,011,000	967,000	1,364,000	1,041,000
net income attributable to ionis pharmaceuticals, inc. common stockholders																					-340,271,000	-30,944,000	-31,845,000	-48,226,000	184,416,000	26,163,000	-876,000	84,443,000	320,076,000	-4,559,000	-40,358,000	-1,420,000	-2,179,000	-976,000
tegsedi product sales																											9,865,000	6,754,000
income before income tax expense																												121,931,000			-56,215,000	-10,797,000	-2,863,000	-3,935,000		3,468,000	-28,105,000	7,351,000	-57,086,000
loss on extinguishment of financing liability for leased facility																																		-7,689,000
licensing and royalty revenue																																					1,033,000	2,014,000	16,015,000	1,660,000	679,000	203,000	770,000	691,000	2,322,000	265,000	448,000	8,611,000	973,000	202,000	477,000	1,439,000	858,000	474,000	200,000	1,417,000	721,000	524,000	518,000	1,133,000	983,000	839,000	2,360,000	1,370,000	10,546,000	809,000	224,000	1,891,000	547,000	975,000	6,147,000	668,000	26,710,000	331,000	448,000	8,114,000	784,000	53,000	490,000	10,726,000	336,000	154,000	307,000	38,000	1,626,000	5,305,000
research, development and patent expenses																																					101,151,000	84,631,000	77,573,000	80,964,000	101,330,000	88,508,000	68,007,000	64,447,000	67,953,000	61,086,000	59,264,000	53,448,000	57,430,000	45,660,000
general and administrative																																					18,042,000	10,188,000	9,824,000	10,562,000	13,181,000	8,751,000	7,775,000	7,466,000	6,827,000	4,470,000	4,462,000	4,380,000	4,677,000	3,430,000	3,389,000	3,423,000	3,234,000	3,096,000	3,209,000	2,976,000	3,800,000	3,105,000	2,874,000	3,010,000	2,945,000	2,855,000	3,051,000	2,819,000	3,830,000	3,335,000	3,673,000	3,677,000										2,710,000	2,566,000	1,442,750	1,724,000	1,910,000	2,137,000	2,373,000	2,568,000	2,453,000
gain on investment in regulus therapeutics inc.																																										20,211,000
basic and diluted net income per share																																													-0.15	-0.23																							-0.01	0.03
shares used in computing basic and diluted net income per share																																													29,377.75	117,811															42	99,196	99,091	99,013
equity in net loss of regulus therapeutics inc.
research and development																																																			42,631,000	38,312,000	42,758,000	36,551,000	40,435,000	38,714,000	47,219,000	39,924,000	36,009,000	34,245,000	39,333,000	34,716,000	39,124,000	31,987,000	40,103,000	33,832,000	32,146,000	28,541,000	16,828,000	31,968,000	31,195,000	26,449,000	24,296,000	20,384,000	19,949,000	24,240,000	18,973,000	18,982,000	18,372,000	15,380,750	18,212,000	20,950,000	22,361,000	29,566,000	32,036,000	28,947,000
basic and diluted net loss																																																												-200
loss from continuing operations, before income tax expense
net income from continuing operations																																																																	-0.21	-0.07	-0.03
discontinued operations:
loss from discontinued operations
gain on sale of ibis biosciences, inc., net of tax																																																																	13,884,000			171,773,000
net income from discontinued operations, net of tax																																																																	13,884,000			171,744,000
net loss attributable to noncontrolling interest in regulus therapeutics inc.																																																																	1,487,000	1,136,000	857,000	913,000
net income attributable to isis pharmaceuticals, inc. common stockholders																																																													-13,986,000	-12,454,000	-25,154,000	-9,658,000	-6,958,000	-6,924,000	-2,896,000	171,843,000
basic and diluted net income per share:
net loss from continuing operations attributable to isis pharmaceuticals, inc. common stockholders																																																													-0.14	-0.13	-0.25	-0.1
net income from discontinued operations																																																																	0.14			1.76
basic and diluted net income attributable to isis pharmaceuticals, inc. common stockholders																																																													-0.14	-0.13	-0.25	-0.1	-0.07	-0.07
loss from continuing operations, before income tax benefit
income from continuing operations, before income tax benefit
net income from continuing operations, net of income tax benefit
basic net income per share:
basic net income attributable to isis pharmaceuticals, inc. common stockholders																																																																			-0.03	1.76
diluted net income per share:
diluted net income attributable to isis pharmaceuticals, inc. common stockholders																																																																			-0.03	1.57
net loss from continuing operations, net of income tax benefit
net income from continuing operations attributable to isis pharmaceuticals, inc. common stockholders
loss attributed to noncontrolling interest in symphony genisis, inc.																																																																									8,748,000	7,603,000	6,806,000	5,085,250	6,733,000	13,608,000
loss attributed to noncontrolling interest in regulus therapeutics llc																																																																					764,000	1,208,000	965,000	883,000	87,000
loss attributed to noncontrolling interest in ibis biosciences, inc.																																																																					290,750	267,000	791,000	105,000
excess purchase price over carrying value of noncontrolling interest in symphony genisis, inc.
net income applicable to common stock																																																																					-826,250	3,188,000
shares used in computing basic net income (loss) per share																																																																					23,446.5	95,863
shares used in computing diluted net income (loss) per share																																																																					23,446.5	100,181
net loss applicable to common stock																																																																							-2,208,000	-4,285,000	-105,304,000	-11,024,000	-13,020,000	-14,146,000	-12,105,000	-2,172,000	-17,480,000	-7,913,000	-15,172,000	-19,659,000	-29,658,000	-32,708,000	-26,129,000	-26,487,000
restructuring activities																																																																															36,000	-425,000		650,000	7,084,000
net loss before noncontrolling interest in symphony genisis, inc.
operating expenses:
compensation expense related to variable accounting of stock options
compensation benefit related to variable accounting of stock options
compensation expense related to stock options																																																																																	15,000	5,000				3,238,000
accretion of dividends on preferred stock

Balance Sheets:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31

assets
current assets:
cash and cash equivalents	372,260,000	338,341,000	297,304,000	264,192,000	242,077,000	334,605,000	293,993,000	348,889,000	399,266,000	352,060,000	424,790,000	309,031,000	276,472,000	314,993,000	521,917,000	542,513,000	869,191,000	632,953,000	565,119,000	414,155,000	397,664,000	633,059,000	530,181,000	486,195,000	683,287,000	247,939,000	272,523,000	375,811,000	278,820,000	479,891,000	805,490,000	227,505,000	129,630,000	159,184,000	132,991,000	114,221,000	84,685,000	84,275,000	112,534,000	93,337,000	128,797,000	126,593,000	119,487,000	148,348,000	142,998,000	73,220,000	94,081,000	161,778,000	159,973,000	256,408,000	296,540,000	107,650,000	124,482,000	84,563,000	85,645,000	56,391,000	65,477,000	55,263,000	85,022,000	86,200,000	70,052,000	100,122,000	46,038,000	98,590,000	105,255,000	149,293,000	215,789,000	254,057,000	217,918,000	264,682,000	445,720,000	271,936,000	102,398,000	132,964,000	183,423,000	114,514,000	104,238,000	105,359,000	1,711,000	3,650,000	53,222,000	7,988,000	12,006,000	21,446,000	30,371,000	39,757,000
short-term investments	2,305,176,000	1,901,830,000	1,992,676,000	1,880,960,000	2,055,579,000	2,148,671,000	1,784,693,000	1,857,327,000	1,931,935,000	1,883,522,000	1,960,598,000	2,037,750,000	1,710,397,000	1,666,670,000	1,499,910,000	1,509,880,000	1,245,782,000	1,354,146,000	1,494,151,000	1,405,840,000	1,494,711,000	1,696,145,000	1,818,435,000	1,897,892,000	1,816,257,000	1,972,891,000	1,989,508,000	1,877,943,000	1,805,252,000	1,479,098,000	1,174,960,000	807,796,000	893,085,000	851,624,000	722,718,000	746,060,000	580,538,000	603,573,000	551,556,000	610,467,000	650,386,000	685,599,000	635,447,000	546,706,000	585,834,000	518,766,000	496,754,000	469,515,000	496,788,000	414,490,000	294,212,000	264,261,000	249,964,000	259,010,000	250,384,000	277,553,000	278,187,000	309,500,000	310,162,000	340,622,000	402,301,000	397,782,000	475,990,000	420,529,000	469,057,000	458,547,000	421,722,000	398,179,000	273,080,000	247,341,000	91,249,000	66,479,000	43,593,000	69,769,000	102,131,000	78,819,000	22,633,000	32,581,000	76,850,000	90,739,000	48,435,000	51,592,000	70,778,000	104,119,000	116,973,000	141,116,000
contracts receivable	66,059,000	24,608,000	52,580,000	39,707,000	92,188,000	17,928,000	27,259,000	5,140,000	97,778,000	142,359,000	27,956,000	13,914,000	25,538,000	6,645,000	6,751,000	26,122,000	61,896,000	9,068,000	24,004,000	23,397,000	76,204,000	38,977,000	27,834,000	28,605,000	63,034,000	49,077,000	31,615,000	10,452,000	12,759,000	14,732,000	16,761,000	36,858,000	62,955,000	42,924,000	50,615,000	69,357,000	108,043,000	8,544,000	746,000	16,480,000	11,356,000	1,826,000	3,264,000	26,934,000	3,903,000	26,313,000	41,941,000	9,823,000	11,102,000	12,645,000	2,024,000	1,172,000	522,000	3,476,000	1,558,000	1,379,000	6,921,000	1,858,000	5,674,000	591,000	1,242,000	1,341,000	5,040,000	1,904,000	10,899,000	586,000	783,000	2,351,000	4,121,000	5,021,000	6,399,000	4,358,000	9,237,000	2,296,000	2,057,000	2,395,000	2,959,000	2,618,000	3,503,000	3,918,000	4,209,000	4,456,000	2,911,000	5,464,000	9,593,000	5,774,000
inventories	10,048,000	10,470,000	8,481,000	11,502,000	12,512,000	28,452,000	28,723,000	30,259,000	28,425,000	25,634,000	25,538,000	22,200,000	22,033,000	20,645,000	19,811,000	24,032,000	24,806,000	22,930,000	24,099,000	22,199,000	21,965,000	22,172,000	23,722,000	22,885,000	18,180,000	19,375,000	18,505,000	11,057,000	8,582,000	8,378,000	9,067,000	9,060,000	9,982,000	8,451,000	6,504,000	6,801,000	7,489,000	9,319,000	7,668,000	6,520,000	6,899,000	6,583,000	6,782,000	6,839,000	6,290,000	7,085,000	7,776,000	7,537,000	8,033,000	7,385,000	8,309,000	5,809,000	6,121,000	6,737,000	7,108,000	4,873,000	4,139,000	2,915,000	2,249,000	2,606,000	2,484,000	1,996,000	2,794,000	2,601,000	2,768,000	2,817,000	2,779,000	2,591,000	2,718,000	5,511,000	4,699,000	3,700,000	1,930,000	1,510,000
other current assets	237,092,000	243,744,000	226,109,000	222,571,000	217,934,000	184,194,000	194,715,000	174,060,000	184,449,000	181,075,000	177,872,000	159,724,000	168,254,000	143,173,000	142,759,000	150,577,000	143,374,000	136,643,000	131,045,000	123,827,000	140,163,000	146,628,000	131,015,000	122,468,000	139,839,000	118,809,000	102,071,000	98,686,000	102,473,000	97,125,000	76,994,000	62,064,000	72,332,000	48,930,000	51,531,000	25,933,000	14,763,000	15,236,000	17,250,000	17,403,000	14,773,000	29,066,000	29,868,000	13,154,000	15,691,000	8,353,000	8,567,000	9,814,000	7,518,000	7,372,000	5,786,000	8,074,000	8,727,000	7,800,000	5,724,000	7,417,000	5,415,000	7,553,000	7,613,000	7,376,000	7,058,000	6,309,000	7,023,000	6,791,000	8,147,000	8,004,000	6,439,000	6,514,000	5,085,000	6,988,000	7,113,000	6,378,000	4,229,000	4,238,000	7,363,000	9,614,000	6,461,000	6,830,000	7,918,000	6,600,000	7,459,000	7,260,000	8,574,000	8,236,000	9,281,000	7,686,000
total current assets	2,990,635,000	2,518,993,000	2,577,150,000	2,418,932,000	2,620,290,000	2,713,850,000	2,329,383,000	2,415,675,000	2,641,853,000	2,584,650,000	2,616,754,000	2,542,619,000	2,202,694,000	2,152,126,000	2,191,148,000	2,253,124,000	2,345,049,000	2,155,740,000	2,238,418,000	1,989,418,000	2,130,707,000	2,536,981,000	2,531,187,000	2,558,045,000	2,720,597,000	2,408,091,000	2,414,222,000	2,373,949,000	2,207,886,000	2,079,224,000	2,083,272,000	1,143,283,000	1,167,984,000	1,111,113,000	964,359,000	962,372,000	797,932,000	730,329,000	697,971,000	763,910,000	837,003,000	868,261,000	855,452,000	835,427,000	836,597,000	681,163,000	705,797,000	722,053,000	735,510,000	763,304,000	669,061,000	431,829,000	423,438,000	361,586,000	350,419,000	347,613,000	360,139,000	377,089,000	410,720,000	437,395,000	483,137,000	507,550,000	536,885,000	530,415,000	596,126,000	619,247,000	647,512,000	663,692,000	518,384,000	529,543,000	555,180,000	352,851,000	161,387,000	210,777,000	296,067,000	206,203,000	136,923,000	148,274,000	90,731,000	105,858,000	114,242,000	72,367,000	96,991,000	159,355,000	182,292,000	208,881,000
property, plant and equipment	123,048,000	106,117,000	111,951,000	102,925,000	94,251,000	82,502,000	75,902,000	72,795,000	71,043,000	70,928,000	91,634,000	85,158,000	74,294,000	180,806,000	177,015,000	177,724,000	178,069,000	180,144,000	179,316,000	180,413,000	181,077,000	181,518,000	172,618,000	163,952,000	153,651,000	148,717,000	135,349,000	133,519,000	132,160,000	132,003,000	127,940,000	123,188,000	121,907,000	116,624,000	99,677,000	95,439,000	92,845,000	90,970,000	90,602,000	90,365,000	90,233,000	89,243,000	89,692,000	89,047,000	88,958,000	88,068,000	86,321,000	86,641,000	86,198,000	87,273,000	88,312,000	89,694,000	91,084,000	92,598,000	94,008,000	95,132,000	96,615,000	98,019,000	88,010,000	37,680,000	35,703,000	35,549,000	36,071,000	36,171,000	27,338,000	26,911,000	26,636,000	24,183,000	17,371,000	14,019,000	10,494,000	8,274,000	6,583,000	6,890,000	7,042,000	7,157,000	7,227,000	7,563,000	8,208,000	9,130,000	10,181,000	22,837,000	26,665,000	30,857,000	32,172,000	32,721,000
right-of-use assets	238,549,000	241,993,000	163,933,000	159,269,000	161,856,000	164,424,000	166,939,000	169,431,000	171,896,000	174,310,000	176,718,000	179,148,000	181,544,000
deposits and other assets	171,604,000	165,988,000	132,099,000	131,822,000	127,278,000	120,323,000	118,904,000	106,027,000	105,280,000	104,083,000	86,025,000	78,296,000	75,344,000	59,434,000	58,916,000	58,949,000	59,567,000	48,971,000	49,962,000	49,925,000	50,034,000	41,191,000	41,465,000	32,552,000	27,633,000	26,199,000	25,778,000	25,954,000	12,910,000	12,659,000	12,651,000	10,175,000	10,129,000	2,916,000	5,433,000	5,010,000	1,325,000	1,358,000	1,384,000	1,400,000	9,553,000	9,727,000	10,301,000	10,823,000	10,378,000	4,533,000	5,299,000	5,438,000	5,359,000	5,481,000	5,601,000	5,824,000	5,939,000	6,126,000	2,460,000	2,570,000	2,845,000	3,121,000	3,269,000	3,398,000	3,528,000	3,658,000	3,789,000	3,211,000	3,269,000	3,441,000	3,590,000	3,739,000	5,274,000	5,557,000	7,229,000	2,854,000	2,806,000	2,809,000	2,797,000	4,276,000	2,433,000	2,667,000	2,883,000	3,201,000	3,359,000	3,220,000	3,422,000	8,052,000	8,253,000	8,411,000
total assets	3,523,836,000	3,033,091,000	2,985,133,000	2,812,948,000	3,003,675,000	3,081,099,000	2,691,128,000	2,763,928,000	2,990,072,000	2,933,971,000	2,971,131,000	2,885,221,000	2,533,876,000	2,421,971,000	2,456,133,000	2,519,092,000	2,611,690,000	2,414,893,000	2,497,069,000	2,248,551,000	2,389,755,000	3,095,701,000	3,078,950,000	3,090,913,000	3,233,112,000	2,894,989,000	2,877,765,000	2,835,889,000	2,667,784,000	2,247,913,000	2,247,315,000	1,299,560,000	1,322,024,000	1,252,561,000	1,090,831,000	1,083,996,000	912,467,000	843,586,000	811,109,000	875,819,000	956,105,000	988,005,000	976,258,000	955,433,000	955,809,000	793,803,000	817,777,000	834,616,000	847,156,000	881,916,000	788,651,000	552,961,000	545,686,000	485,681,000	472,394,000	470,807,000	484,894,000	505,785,000	529,572,000	505,942,000	550,477,000	575,858,000	606,351,000	599,723,000	657,184,000	680,578,000	709,161,000	724,506,000	574,150,000	584,692,000	609,399,000	405,424,000	213,003,000	263,255,000	349,904,000	255,907,000	187,768,000	201,919,000	150,637,000	166,373,000	177,382,000	146,526,000	175,648,000	255,271,000	279,962,000	312,726,000
liabilities and stockholders’ equity
current liabilities:
accounts payable	28,082,000	14,326,000	22,800,000	17,456,000	42,964,000	9,052,000	9,243,000	13,082,000	26,027,000	5,615,000	24,021,000	10,499,000	17,921,000	20,545,000	10,351,000	16,125,000	11,904,000	8,357,000	14,658,000	9,506,000	17,199,000	16,222,000	7,407,000	21,174,000	16,067,000	13,146,000	15,628,000	13,332,000	28,660,000	13,576,000	13,291,000	13,833,000	24,886,000	23,525,000	13,268,000	23,237,000	21,120,000	15,680,000	17,583,000	19,464,000	28,355,000	19,294,000	10,954,000	16,487,000	17,984,000	15,627,000	13,453,000	9,869,000	11,009,000	8,781,000	9,461,000	5,385,000	10,239,000	5,256,000	6,194,000	5,344,000	8,300,000	6,653,000	3,071,000	4,652,000	6,523,000	3,392,000	5,355,000	4,843,000	4,696,000	5,554,000	6,659,000	7,445,000	5,710,000	6,885,000	5,716,000	5,633,000	4,507,000	4,161,000	3,274,000	4,288,000	3,003,000	3,267,000	2,483,000	2,095,000	2,833,000	2,297,000	2,240,000	2,818,000	3,416,000	3,349,000
accrued compensation	116,236,000	57,019,000	46,564,000	26,575,000	69,614,000	40,558,000	35,018,000	21,537,000	67,727,000	33,781,000	29,322,000	18,160,000	49,178,000	30,410,000	24,985,000	16,525,000	38,810,000	32,320,000	30,222,000	29,263,000	65,728,000	28,390,000	22,822,000	16,437,000	37,357,000	24,404,000	20,049,000	16,264,000	29,268,000	24,259,000	15,089,000	12,166,000	25,151,000	15,186,000	10,298,000	8,267,000	24,186,000	11,008,000	7,441,000	6,338,000	16,065,000	9,508,000	7,915,000	5,411,000	12,302,000	7,164,000	6,430,000	4,328,000	12,168,000	6,653,000	7,031,000	3,818,000	7,878,000	5,836,000	4,939,000	3,502,000	9,183,000	5,233,000	4,406,000	3,076,000	6,831,000	4,833,000	4,312,000	2,971,000	7,135,000	4,763,000	4,460,000	3,181,000	6,835,000	3,956,000	3,631,000	2,449,000	4,920,000	2,379,000	2,017,000	6,222,000	1,332,000	1,628,000	1,517,000	3,706,000	1,306,000	1,736,000	1,811,000	3,819,000	3,033,000	2,058,000
accrued liabilities	106,089,000	99,310,000	98,957,000	102,735,000	108,438,000	124,396,000	114,330,000	106,048,000	147,894,000	118,968,000	104,745,000	112,702,000	140,101,000	128,002,000	134,336,000	99,256,000	88,560,000	75,681,000	75,150,000	78,766,000	90,161,000	80,750,000	67,802,000	62,507,000	66,769,000	52,615,000	49,681,000	45,130,000	48,361,000	50,786,000	58,486,000	66,470,000	66,618,000	33,963,000	35,878,000	30,870,000	36,013,000	23,616,000	18,976,000	26,172,000	28,105,000	24,487,000	23,753,000	23,746,000	30,451,000	29,140,000	25,166,000	27,903,000	22,092,000	22,283,000	16,514,000	17,758,000	15,401,000	11,900,000	15,619,000	15,600,000	18,655,000	15,071,000	10,873,000	8,134,000	12,389,000	10,285,000	13,302,000	9,371,000	12,339,000	7,491,000	8,422,000	7,750,000	9,556,000	5,979,000	7,441,000	5,301,000	5,278,000	5,094,000	7,300,000	6,071,000	6,846,000	6,932,000	7,871,000	8,643,000	10,042,000	7,988,000	11,902,000	10,430,000	7,900,000	8,049,000
income taxes payable	2,713,000	101,000	81,000	126,000	34,000	41,000	284,000	2,210,000	2,151,000	31,070,000	24,732,000	17,286,000	6,249,000	16,000	14,000	901,000	36,000	450,000	1,875,000	1,326,000	1,324,000	8,929,000	27,943,000	32,946,000	32,514,000	1,945,000	4,035,000	18,401,000																																					7,323,000	15,864,000	23,233,000	29,627,000
0 percent convertible senior notes due 2026	431,948,000
current portion of deferred contract revenue	73,761,000	76,986,000	75,910,000	81,097,000	78,989,000	76,018,000	94,066,000	130,406,000	151,128,000	204,824,000	96,252,000	92,335,000	90,577,000	99,511,000	93,393,000	91,437,000	97,714,000	97,925,000	102,072,000	106,740,000	108,376,000	104,431,000	100,401,000	120,811,000	118,272,000	137,607,000	137,388,000	144,846,000	160,256,000	157,145,000	160,589,000	120,127,000	106,465,000	104,913,000	110,840,000	108,150,000	51,280,000	56,539,000	58,473,000	63,695,000	67,322,000	68,136,000	58,285,000	52,586,000	51,713,000	51,727,000	51,560,000	54,428,000	48,135,000	55,977,000	40,409,000	35,244,000	35,925,000	23,427,000	22,998,000	34,320,000	36,584,000	52,428,000	68,719,000	73,392,000	74,502,000	77,268,000	77,268,000	70,890,000	75,681,000	76,941,000	82,092,000	85,581,000	92,662,000	99,794,000	101,507,000	57,951,000	7,804,000	6,070,000	1,043,000	1,044,000	571,000	712,000	1,111,000	1,514,000	1,410,000	4,926,000	10,435,000	15,801,000	17,523,000	15,832,000
other current liabilities	22,738,000	24,803,000	22,806,000	22,304,000	9,279,000	10,034,000	8,799,000	9,988,000	8,831,000	9,952,000	8,903,000	8,239,000	7,535,000
total current liabilities	781,567,000	903,456,000	897,236,000	250,293,000	309,318,000	304,566,000	306,162,000	327,648,000	448,090,000	404,210,000	287,975,000	259,221,000	311,561,000	283,454,000	267,811,000	228,450,000	240,550,000	279,778,000	293,825,000	295,105,000	583,250,000	244,571,000	231,341,000	258,025,000	273,005,000	231,777,000	241,213,000	252,473,000	280,294,000	260,238,000	248,619,000	212,643,000	224,741,000	177,647,000	191,760,000	170,580,000	133,784,000	106,892,000	111,081,000	124,495,000	148,876,000	122,198,000	102,132,000	100,288,000	115,332,000	107,325,000	100,816,000	100,836,000	97,812,000	103,278,000	86,995,000	70,295,000	74,322,000	51,601,000	55,063,000	61,707,000	76,112,000	83,542,000	91,980,000	94,399,000	105,890,000	100,916,000	105,214,000	92,095,000	111,444,000	114,719,000	127,861,000	136,460,000	124,698,000	117,683,000	127,111,000	80,260,000	29,966,000	25,178,000	101,941,000	25,139,000	19,436,000	20,281,000	20,845,000	23,793,000	23,905,000	26,053,000	36,062,000	42,897,000	42,132,000	39,643,000
long-term deferred contract revenue	92,001,000	107,906,000	125,095,000	140,678,000	156,504,000	173,776,000	188,701,000	215,088,000	241,184,000	249,272,000	254,398,000	272,973,000	287,768,000	294,656,000	315,196,000	333,138,000	351,879,000	362,887,000	379,874,000	401,966,000	424,046,000	429,931,000	448,576,000	467,842,000	490,060,000	492,979,000	516,584,000	542,416,000	567,359,000	523,384,000	556,586,000	85,446,000	72,708,000	79,656,000	100,843,000	115,759,000	91,198,000	101,831,000	112,436,000	123,084,000	134,306,000	149,100,000	108,128,000	119,083,000	127,797,000	110,614,000	120,387,000	130,755,000	142,790,000	151,006,000	75,184,000	58,816,000	66,656,000	36,961,000	31,715,000	35,469,000	17,474,000	19,415,000	21,356,000	32,065,000	50,413,000	70,900,000	90,164,000	81,457,000	107,097,000	125,237,000	143,376,000	154,293,000	172,766,000	191,279,000	214,202,000	84,798,000	8,131,000	9,310,000	143,000	44,000
0 percent convertible senior notes due 2030	751,495,000
1.75 percent convertible senior notes due 2028	567,830,000
liability related to sale of future royalties	551,353,000	545,182,000	541,205,000	536,141,000	542,212,000	538,102,000	533,754,000	525,072,000	513,736,000	512,700,000	510,174,000	505,081,000
long-term lease liabilities	262,383,000	262,672,000	164,379,000	159,392,000	161,805,000	168,372,000	166,438,000	168,674,000	170,875,000	173,038,000	175,020,000	177,000,000	178,941,000
long-term obligations	28,118,000	28,785,000	59,074,000	55,671,000	51,924,000	41,735,000	41,773,000	41,800,000	41,836,000	48,801,000	16,436,000	7,487,000	7,126,000
total liabilities	3,034,747,000	2,415,124,000	2,353,409,000	2,337,222,000	2,415,324,000	2,418,631,000	2,427,430,000	2,467,413,000	2,603,386,000	2,618,511,000	2,542,830,000	2,398,651,000	1,960,989,000	1,827,610,000	1,831,407,000	1,809,518,000	1,839,953,000	1,884,357,000	1,914,395,000	1,567,987,000	1,546,408,000	1,489,317,000	1,484,155,000	1,520,502,000	1,548,565,000	1,397,023,000	1,420,563,000	1,448,469,000	1,480,624,000	1,407,769,000	1,429,879,000	912,459,000	903,305,000	854,893,000	875,260,000	882,190,000	812,902,000	703,947,000	699,896,000	717,657,000	755,315,000	742,591,000	675,938,000	679,582,000	698,029,000	449,031,000	450,917,000	460,514,000	468,766,000	480,470,000	387,570,000	351,870,000	362,920,000	315,404,000	318,080,000	319,935,000	313,460,000	318,960,000	317,355,000	278,239,000	305,935,000	322,149,000	344,122,000	315,286,000	355,119,000	375,753,000	403,344,000	421,836,000	469,902,000	476,940,000	509,228,000	327,949,000	202,819,000	201,041,000	270,473,000	158,005,000	154,172,000	156,454,000			173,342,000
stockholders’ equity:
common stock, 0.001 par value...	163,000	161,000	159,000	159,000	158,000	158,000	146,000	146,000	144,000	143,000	143,000	143,000	142,000	142,000	142,000	142,000	141,000	141,000	141,000	141,000	140,000	140,000	139,000	139,000	140,000	141,000	140,000	140,000	138,000	138,000	137,000	125,000	125,000	125,000	124,000	124,000	122,000	121,000	121,000	121,000	120,000	120,000	120,000	120,000	118,000	118,000	118,000	118,000	116,000	116,000	114,000	103,000	102,000	102,000	100,000	100,000	100,000	100,000	100,000	100,000	99,000	99,000	99,000	99,000	99,000	98,000	98,000	98,000	97,000	96,000	95,000	93,000	87,000	82,000	82,000	82,000	74,000	73,000	73,000	72,000	72,000	58,000	58,000	57,000	57,000
additional paid-in capital	3,145,402,000	3,045,585,000	2,932,747,000	2,901,262,000	2,868,812,000	2,831,942,000	2,303,369,000	2,270,047,000	2,215,098,000	2,148,002,000	2,118,309,000	2,089,358,000	2,059,850,000	2,034,554,000	2,008,794,000	1,983,078,000	1,964,167,000	1,942,348,000	1,910,379,000	1,925,801,000	2,113,646,000	2,311,679,000	2,271,630,000	2,233,644,000	2,203,778,000	2,219,090,000	2,177,222,000	2,117,969,000	2,047,250,000	2,030,313,000	2,011,561,000	1,576,954,000	1,549,904,000	1,528,186,000	1,434,986,000	1,410,102,000	1,311,229,000	1,373,309,000	1,352,589,000	1,331,945,000	1,309,107,000	1,286,690,000	1,269,452,000	1,251,928,000	1,224,509,000	1,365,407,000	1,352,994,000	1,343,874,000	1,324,804,000	1,315,643,000	1,292,745,000	1,091,842,000	1,077,150,000	1,073,658,000	1,019,936,000	1,016,497,000	1,013,592,000	1,009,330,000	1,006,288,000	1,003,595,000	1,000,181,000	995,149,000	991,436,000	988,053,000	985,620,000	978,411,000	972,697,000	967,648,000	905,721,000	900,303,000	890,435,000	884,434,000	820,422,000	887,579,000	884,506,000	880,954,000	802,063,000	795,026,000	774,366,000	770,263,000	764,555,000	623,385,000	623,361,000	622,395,000	622,106,000	610,517,000
accumulated other comprehensive loss				-28,949,000	-30,811,000	-24,173,000	-34,838,000	-34,964,000	-32,645,000	-46,037,000	-50,913,000	-48,983,000	-57,480,000	-63,140,000	-54,007,000	-48,578,000	-32,668,000	-27,437,000	-25,796,000	-24,203,000	-21,071,000	-19,572,000	-16,440,000	-27,235,000	-25,290,000	-25,375,000	-24,252,000	-27,608,000	-32,016,000	-32,532,000	-32,634,000	-33,234,000		-30,199,000	-30,372,000	-30,460,000		-26,498,000	-26,853,000	-16,115,000
accumulated deficit				-2,396,746,000	-2,249,808,000	-2,145,459,000	-2,004,979,000	-1,938,714,000	-1,795,911,000	-1,786,648,000	-1,639,238,000	-1,553,948,000	-1,429,625,000	-1,377,195,000	-1,330,203,000	-1,225,068,000	-1,159,903,000	-1,384,516,000	-1,302,050,000	-1,221,175,000	-1,249,368,000	-909,098,000	-878,154,000	-846,309,000	-707,534,000	-857,563,000	-883,726,000	-882,850,000	-967,293,000	-1,287,369,000	-1,282,809,000	-1,242,454,000	-1,187,398,000	-1,190,144,000	-1,189,167,000	-1,177,960,000	-1,181,428,000	-1,207,293,000	-1,214,644,000	-1,157,789,000	-1,094,872,000	-1,023,439,000	-987,663,000	-1,023,311,000	-1,006,594,000	-1,037,647,000	-1,010,971,000	-998,890,000																										-840,795,000
total stockholders' equity	489,089,000	617,967,000	631,724,000																																										257,780,000		366,860,000
total liabilities and stockholders’ equity	3,523,836,000	3,033,091,000	2,985,133,000	2,812,948,000	3,003,675,000	3,081,099,000	2,691,128,000	2,763,928,000	2,990,072,000	2,933,971,000	2,971,131,000	2,885,221,000	2,533,876,000	2,421,971,000	2,456,133,000	2,519,092,000	2,611,690,000	2,414,893,000	2,497,069,000	2,248,551,000	2,389,755,000	3,095,701,000	3,078,950,000	3,090,913,000	3,233,112,000	2,894,989,000	2,877,765,000	2,835,889,000	2,667,784,000	2,247,913,000	2,247,315,000	1,299,560,000	1,322,024,000	1,252,561,000	1,090,831,000	1,083,996,000	912,467,000	843,586,000	811,109,000	875,819,000	956,105,000	988,005,000	976,258,000	955,433,000		793,803,000		834,616,000	847,156,000	881,916,000	788,651,000	552,961,000	545,686,000	485,681,000	472,394,000	470,807,000	484,894,000	505,785,000	529,572,000	505,942,000	550,477,000	575,858,000	606,351,000	599,723,000	657,184,000	680,578,000	709,161,000	724,506,000											150,637,000	166,373,000	177,382,000			255,271,000	279,962,000	312,726,000
0 percent convertible senior notes		630,911,000	630,118,000	629,326,000	628,535,000	627,745,000	626,955,000	626,167,000	625,380,000	624,594,000	623,809,000	623,025,000	622,242,000	621,460,000	620,678,000	619,898,000	619,119,000	618,341,000	617,399,000
1.75 percent convertible senior notes		567,123,000	566,420,000	565,721,000	565,026,000	564,335,000	563,647,000	562,964,000	562,285,000	561,609,000	560,937,000
accumulated other comprehensive income																																	-31,759,000				-30,358,000				-13,565,000	-17,957,000	18,411,000	47,114,000	39,747,000	16,894,000	24,719,000	29,000,000	21,080,000	29,021,000			12,480,000						399,000	689,000	949,000	1,162,000	941,000	1,379,000	2,153,000	3,678,000	2,324,000	473,000	982,000		2,730,000	2,123,000	511,000	418,000	2,081,000	4,278,000	2,045,000	2,114,000	5,739,000	3,178,000	2,349,000	141,000	544,000	956,000		4,747,000
total stockholders’ equity				475,726,000	588,351,000	662,468,000	263,698,000	296,515,000	386,686,000	315,460,000	428,301,000	486,570,000	572,887,000	594,361,000	624,726,000	709,574,000	771,737,000	530,536,000	582,674,000	680,564,000	843,347,000	1,606,384,000	1,594,795,000	1,570,411,000	1,684,547,000	1,497,966,000	1,457,202,000	1,387,420,000	1,187,160,000	840,144,000	817,436,000	387,101,000	418,719,000	397,668,000	215,571,000	201,806,000	99,565,000	139,639,000	111,213,000	158,162,000	200,790,000	245,414,000	300,320,000	275,851,000		344,772,000		374,102,000	378,390,000	401,446,000	401,081,000	201,091,000	182,766,000	170,277,000	154,314,000	150,872,000	171,434,000	186,825,000	212,217,000	227,703,000	244,542,000	253,709,000	262,229,000	284,437,000	302,065,000	304,825,000	305,817,000	302,670,000	67,092,000	68,078,000	59,023,000	54,621,000	232,000	47,284,000	56,898,000	68,563,000	1,577,000	6,713,000		2,665,000	4,040,000				11,611,000	47,554,000
0.125 percent convertible senior notes						44,467,000	44,422,000	44,377,000	44,332,000	44,287,000	114,081,000	545,053,000	544,504,000	543,955,000	543,407,000	542,860,000	542,314,000	541,768,000	541,223,000	540,679,000	455,719,000	450,386,000	445,150,000	439,996,000	434,711,000
long-term mortgage debt												8,811,000	8,847,000	58,978,000	59,222,000	59,462,000	59,713,000	59,955,000	60,019,000	60,002,000	59,984,000	59,966,000	59,948,000	59,930,000	59,913,000	59,896,000	59,878,000	59,860,000	59,842,000	59,825,000	59,807,000	59,789,000	59,771,000	59,750,000
patents														29,605,000	29,054,000	29,295,000	29,005,000	30,038,000	29,373,000	28,795,000	27,937,000	28,274,000	27,700,000	26,750,000	25,674,000	26,985,000	26,056,000	25,220,000	24,032,000	24,027,000	23,452,000	22,914,000	22,004,000	21,908,000	21,362,000	21,175,000	20,365,000	20,929,000	21,152,000	20,144,000	19,316,000	19,489,000	19,060,000	17,915,000	17,186,000	16,879,000	16,729,000	16,383,000	15,517,000	20,810,000	20,149,000	19,604,000	18,646,000	18,180,000	17,701,000	17,071,000	16,259,000	16,994,000	16,444,000	15,773,000	15,821,000	16,208,000	16,152,000	15,919,000	15,909,000	15,851,000	15,709,000	16,616,000	16,260,000	18,126,000	18,538,000	18,390,000	17,605,000	17,376,000	17,037,000	16,836,000	17,042,000	18,688,000	18,875,000	18,773,000	20,148,000	19,869,000	19,745,000	25,981,000	24,691,000	23,556,000
current portion of long-term obligations														4,970,000	4,732,000	4,206,000	3,526,000	3,109,000	7,972,000	7,688,000	7,301,000				2,026,000	2,060,000	14,432,000	14,500,000	13,749,000	14,472,000	1,164,000	47,000	1,621,000	60,000	21,476,000	56,000	1,185,000	49,000	8,608,000	8,826,000	9,029,000	773,000	1,225,000	2,058,000	2,882,000	3,667,000	4,207,000	4,308,000	4,408,000	4,649,000	4,853,000	4,508,000	4,879,000	5,182,000	5,313,000	2,941,000	3,390,000	4,157,000	4,911,000	5,145,000	5,645,000	5,138,000	4,977,000	4,020,000	4,270,000	4,106,000	2,995,000	2,876,000	2,065,000		3,669,000	5,471,000	7,457,000	7,474,000	7,482,000	7,514,000	7,684,000	7,742,000	7,863,000	7,835,000	8,314,000	9,106,000	9,674,000	10,029,000	10,260,000	10,355,000
long-term obligations, less current portion														25,107,000	25,093,000	25,710,000	26,378,000	21,628,000	22,055,000	22,943,000	23,409,000	15,884,000	15,057,000	15,043,000	15,543,000	16,016,000	16,091,000	16,305,000	4,914,000	5,138,000	14,539,000	12,946,000	12,974,000	13,096,000	15,095,000	15,043,000	14,926,000	14,892,000	2,420,000	2,372,000	2,341,000	7,312,000	7,392,000	7,510,000	7,669,000	4,039,000	4,510,000	5,523,000	6,542,000	6,384,000	7,382,000	6,498,000	7,402,000	8,404,000	9,503,000	3,603,000	4,125,000	4,724,000	5,465,000	4,938,000	5,720,000	4,304,000	5,620,000	4,474,000	11,478,000	12,532,000	10,643,000	11,370,000	9,938,000	5,478,000	5,415,000	391,000	2,222,000	4,053,000	5,889,000	7,822,000	9,736,000	11,173,000	12,942,000	14,915,000	16,845,000	119,432,000	118,358,000	104,369,000	99,033,000	94,558,000
1 percent convertible senior notes																		61,936,000	61,876,000	247,292,000	293,161,000	288,579,000	284,083,000	279,666,000	275,333,000	596,355,000	586,797,000	577,415,000	568,215,000	559,184,000	550,328,000	541,635,000	533,111,000	524,744,000	516,539,000	508,411,000	500,511,000	356,440,000	350,800,000	345,265,000	347,214,000	342,136,000	337,158,000	332,274,000	327,486,000
current portion of 1 percent convertible senior notes																				61,816,000
long-term deferred tax assets																						307,737,000	305,980,000	309,614,000	305,557,000	284,997,000	276,360,000	277,247,000	290,796,000
total ionis stockholders’ equity																					843,347,000	1,383,149,000	1,377,175,000	1,360,239,000	1,471,094,000	1,336,293,000	1,269,384,000	1,207,651,000	1,048,079,000	710,550,000	696,255,000	301,391,000		307,968,000
noncontrolling interest in akcea therapeutics, inc.																						223,235,000	217,620,000	210,172,000	213,453,000	161,673,000	187,818,000	179,769,000	139,081,000	129,594,000	121,181,000	85,710,000	87,847,000	89,700,000
current portion of long-term obligations and other current liabilities																						5,849,000	4,966,000	4,150,000
long-term financing liability for leased facility																																			51,023,000	72,397,000	72,359,000	72,322,000	72,286,000	72,251,000	72,217,000	72,091,000	71,968,000	71,848,000	71,731,000	71,616,000	71,504,000	71,395,000	71,288,000	71,097,000	70,910,000	70,728,000	70,550,000	70,375,000	70,205,000	70,039,000	69,877,000	68,895,000	58,722,000
total ionis stockholders' equity																																	330,872,000
investment in regulus therapeutics inc.																																					2,414,000	9,382,000	8,217,000	19,703,000	24,792,000	18,594,000	60,604,000	93,446,000	81,881,000	47,426,000	56,678,000	63,586,000	52,096,000	65,004,000	62,190,000	44,863,000	33,622,000	5,563,000	5,563,000	5,400,000	4,424,000	3,145,000	2,759,000	1,726,000	870,000	5,000,000	4,070,000	127,000
2¾ percent convertible senior notes																																					124,000	51,570,000	50,873,000	50,190,000	50,361,000	49,754,000	49,160,000	48,579,000	48,014,000	155,437,000		152,005,000
licenses																																										1,285,000	1,753,000	2,221,000	2,690,000	3,160,000	3,631,000	4,101,000	4,572,000	5,048,000	5,528,000	6,010,000	6,579,000	7,191,000	7,806,000	8,421,000	9,036,000	10,562,000	11,129,000	11,696,000	12,288,000	12,893,000	13,454,000	14,007,000	14,542,000	15,128,000	15,714,000	16,276,000	16,861,000	17,447,000	17,958,000	18,516,000	19,684,000	20,267,000	20,851,000	21,435,000	22,018,000	22,602,000	23,186,000	23,770,000	24,353,000	24,937,000	25,521,000	26,619,000	27,200,000	27,782,000
liabilities and stockholders' equity
stockholders' equity:
total liabilities and stockholders' equity																																													955,809,000		817,777,000
23/4 percent convertible senior notes																																															153,700,000			148,705,000	147,099,000	145,533,000		142,500,000
23¤4 percent convertible senior notes																																																	150,334,000				143,990,000
accrued income taxes																																																		4,935,000	8,727,000	3,582,000
accumulated other comprehensive gain																																																			26,986,000	17,784,000		846,000	968,000
25¤8 percent convertible subordinated notes
25/8 percent convertible subordinated notes																																																							146,031,000	143,717,000	141,448,000	139,239,000		134,964,000	132,895,000				125,100,000
25/8% convertible subordinated notes																																																											137,073,000			130,882,000	128,907,000	126,986,000		123,265,000	121,464,000	119,713,000	162,500,000	162,500,000	162,500,000			162,500,000
long-term financing obligation																																																												10,147,000	10,147,000	10,147,000	10,147,000	10,147,000
total isis pharmaceuticals, inc. stockholders’ equity																																																													244,542,000	253,709,000	262,229,000	284,437,000	291,722,000	292,995,000	292,851,000	288,846,000
noncontrolling interest in regulus therapeutics inc.																																																																	10,343,000	11,830,000	12,966,000	13,824,000	4,737,000
assets from discontinued operations
liabilities from discontinued operations
noncontrolling interest in ibis biosciences, inc. — discontinued operations
assets held for sale																																																																					15,462,000
liabilities held for sale																																																																					7,870,000
noncontrolling interest in ibis biosciences, inc. — held for sale.																																																																					32,419,000
total liabilities, noncontrolling interest and stockholders’ equity																																																																					574,150,000	584,692,000	609,399,000	405,424,000	213,003,000	263,255,000	349,904,000	255,907,000	187,768,000	201,919,000
derivative instrument related to abbott’s call option																																																																						1,069,000	5,147,000
noncontrolling interest in regulus therapeutics llc																																																																						6,315,000	7,523,000	8,488,000	9,952,000
noncontrolling interest in ibis biosciences, inc.																																																																						33,359,000	33,625,000	14,366,000
debt issuance costs																																																																								4,539,000	4,938,000	5,136,000	6,110,000
derivative instruments related to abbott’s subscription right and call option																																																																								3,455,000
25¤8% convertible subordinated notes																																																																								162,500,000			162,500,000
5 1/2% convertible subordinated notes																																																																													125,000,000	125,000,000	125,000,000
2 5/8% convertible subordinated notes																																																																									162,500,000
noncontrolling interest in symphony genisis, inc.																																																																												29,339,000
51/2% convertible subordinated notes																																																																																125,000,000	125,000,000	125,000,000				125,000,000
noncontrolling interest in symphony genisis, inc																																																																										14,930,000	22,533,000		32,019,000	38,752,000
inventory																																																																											1,093,000	861,000	632,000	886,000	749,000	951,000	917,000	1,071,000	2,722,000	20,090,000	16,074,000	14,548,000
current portion of 51¤2% convertible subordinated notes																																																																											80,825,000
51¤2% convertible subordinated notes																																																																												125,000,000
long-term investments																																																																													2,125,000	2,125,000	6,754,000		5,099,000	3,296,000	3,304,000	4,407,000	5,354,000	11,375,000
stockholders’ equity
investments in corporate securities																																																																																5,641,000
long-term deferred contract revenue, less current portion																																																																																	92,000	230,000	378,000	644,000	2,186,000	5,971,000
deferred compensation
common stock warrants																																																																																	7,500,000
liabilities and stockholders’ deficit
stockholders’ deficit:
total stockholders’ deficit
total liabilities and stockholders’ deficit																																																																																		146,526,000	175,648,000
5 ½% convertible subordinated notes																																																																																			125,000,000	125,000,000	125,000,000
series b convertible exchangeable 5% preferred stock, 0.001 par value...
accretion of series b preferred stock dividends																																																																																						2,741,000
series b convertible exchangeable 5% preferred stock, .001 par value...																																																																																						12,015,000
common stock, .001 par value...																																																																																						56,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-09-30	2004-06-30	2004-03-31

operating activities:
net loss				-146,938,000	-104,349,000	-140,480,000	-66,265,000	-142,803,000	-9,263,000	-147,410,000	-85,290,000	-124,323,000	-52,430,000	-46,992,000	-105,135,000	-65,165,000		-82,466,000	-80,875,000	-89,869,000													-4,660,000	-4,897,000			25,865,000			-62,917,000	-71,433,000			-16,717,000	31,053,000	-26,676,000	-12,081,000	-31,280,000
adjustments to reconcile net loss to net cash from operating activities:
depreciation	3,259,000	2,255,000	2,266,000	2,228,000	2,240,000	2,361,000	2,466,000	2,547,000	2,544,000	2,523,000	2,621,000	2,604,000	3,027,000	3,817,000	3,783,000	3,701,000	3,822,000	3,714,000	4,034,000	3,917,000	3,652,000	3,353,000	3,127,000	3,233,000	3,195,000	3,092,000	3,180,000	3,073,000	3,056,000	2,792,000	2,495,000	2,363,000	570,000	2,148,000	2,010,000	1,980,000	1,889,000	1,877,000	1,874,000	1,841,000	1,794,000	1,784,000	1,835,000	1,571,000	1,589,000	1,650,000	1,580,000	1,561,000
amortization of right-of-use operating lease assets	3,444,000	1,626,000	2,590,000	2,587,000	2,568,000	2,515,000	2,492,000	2,465,000	2,413,000	2,408,000	2,431,000	2,395,000	3,392,000	670,000	698,000	602,000	550,000	390,000	387,000	394,000	375,000	572,000	391,000	393,000	109,000	398,000
amortization of other assets	638,000	621,000	598,000	582,000	459,000	617,000	621,000	639,000	655,000	660,000	637,000	607,000
amortization of discount on investments				-7,108,000		-9,140,000	-9,886,000	-9,257,000
amortization of debt issuance costs	1,968,000	1,652,000	1,646,000	1,642,000	1,674,000	1,678,000	1,671,000	1,667,000	1,664,000	1,700,000	1,480,000	1,486,000	1,338,000	1,347,000	1,345,000	1,343,000	1,372,000	1,393,000	1,333,000	860,000	694,000	648,000	641,000	595,000	494,000	491,000	483,000	474,000	467,000	490,000	412,000	441,000	414,000	405,000	401,000	396,000	315,000	309,000	303,000	298,000	292,000	286,000	280,000	275,000	183,000	140,000	137,000	135,000
non-cash royalty revenue related to sale of royalties				-12,891,000	-14,559,000	-14,186,000	-9,613,000	-6,623,000	-16,814,000	-15,252,000
non-cash interest related to sale of future royalties	17,707,000	17,799,000	18,495,000	18,670,000	18,516,000	18,381,000	18,143,000	17,806,000	17,697,000	17,626,000	17,552,000	15,363,000
stock-based compensation expense	43,320,000	31,146,000	29,690,000	29,718,000	36,148,000	31,984,000	30,728,000	31,340,000	26,336,000	25,963,000	26,562,000	26,948,000	25,689,000	23,837,000	24,502,000	26,236,000	22,259,000	30,537,000	30,021,000	37,861,000	95,040,000	45,844,000	48,443,000	40,790,000	35,010,000	24,127,000	41,932,000	45,505,000	34,102,000	34,883,000	33,876,000	28,451,000	22,333,000	21,472,000	21,258,000	20,912,000		17,586,000	19,261,000	20,103,000		14,997,000	13,605,000	13,305,000		8,118,000	7,707,000	7,069,000
gain on early retirement of debt										-2,097,000
inducement expense related to early retirement of debt
non-cash losses related to disposal of property, plant and equipment					7,290,000				2,003,000	14,441,000			3,000	1,000	0	527,000
loss on investments			18,622,000	1,849,000	2,572,000	-881,000	3,533,000	-2,332,000	160,000	1,730,000	-830,000	529,000		174,000
non-cash losses related to other assets			236,000	61,000	2,137,000	506,000	256,000	133,000	812,000	279,000	125,000	445,000
changes in operating assets and liabilities:
contracts receivable	-41,451,000	27,972,000	-12,873,000	52,481,000	-74,260,000	9,331,000	-22,119,000	92,638,000	44,755,000	-114,560,000	-13,878,000	11,624,000	-18,893,000	106,000	19,371,000	35,774,000	-52,828,000	14,936,000	-607,000	52,807,000	-37,227,000	-11,143,000	771,000	34,429,000	-13,958,000	-17,461,000	-21,163,000	4,908,000	-628,000	2,030,000	20,096,000	26,097,000	-20,031,000	7,691,000	18,742,000	38,686,000	-99,499,000	-7,798,000	15,734,000	-5,124,000	-9,530,000	1,438,000	23,670,000	-23,031,000	22,410,000	15,628,000	-32,118,000	1,279,000
inventories				1,010,000	-5,044,000	271,000	1,536,000	-1,834,000	-2,791,000	-96,000	-3,338,000	-167,000	-1,388,000	-834,000	4,221,000	774,000	-1,876,000	1,169,000	-1,900,000	-234,000	207,000	1,550,000	-837,000	-2,181,000	1,195,000	-870,000	-3,261,000	-2,475,000	-204,000	689,000	-7,000	922,000	-1,531,000	-1,947,000	297,000	688,000	1,830,000	-1,651,000	-1,148,000	379,000	-316,000	199,000	57,000	-549,000	795,000	691,000	-239,000	496,000
other current and long-term assets				-12,366,000	-17,702,000	1,226,000	-22,762,000	13,381,000	-11,515,000	1,371,000	-25,008,000	5,312,000	-23,694,000	-949,000	7,183,000	-7,222,000	-11,235,000	1,179,000	-7,302,000	16,481,000	-4,328,000	-6,711,000	-8,468,000	9,532,000	-21,282,000	-17,005,000	-8,174,000	1,802,000	-2,775,000	-21,396,000	-16,599,000	11,422,000	-23,501,000	4,505,000	-25,294,000	-14,077,000	1,686,000	2,549,000	171,000	-2,747,000	8,938,000	1,371,000	-12,177,000	-2,451,000	-511,000	-545,000	202,000	-896,000
accounts payable				-25,968,000	35,205,000	-2,151,000	-3,195,000	-13,869,000	20,581,000	-17,979,000	15,812,000	-10,295,000	-4,513,000	8,279,000	-5,550,000	2,878,000	4,737,000	-7,918,000	6,750,000	-9,569,000	8,215,000	3,969,000	-15,350,000	411,000	2,421,000	-2,660,000	1,087,000	-17,191,000	12,951,000	633,000	-1,095,000	-13,144,000	3,491,000	8,323,000	-10,502,000	472,000	4,523,000	-2,764,000	-1,019,000	-11,417,000	8,349,000	9,059,000	-5,502,000	-2,695,000	3,410,000	-577,000	4,637,000	-2,646,000
income taxes	2,612,000	20,000	-45,000	92,000	-7,000	-243,000	-1,926,000	59,000													-7,605,000
accrued compensation				-43,039,000	29,056,000	5,540,000	13,481,000	-46,190,000	33,946,000	4,459,000	11,162,000	-31,018,000	18,768,000	5,425,000	8,460,000	-22,285,000	6,490,000	2,098,000	959,000	-36,465,000	37,338,000	5,568,000	6,385,000	-20,920,000	12,953,000	4,355,000	3,785,000	-13,004,000	5,009,000	9,170,000	2,923,000	-12,985,000	9,964,000	4,889,000	2,031,000	-15,919,000	13,178,000	3,567,000	1,104,000	-9,728,000	6,557,000	1,593,000	2,504,000	-6,891,000	5,138,000	734,000	2,102,000	-7,840,000
accrued liabilities and other liabilities	-82,351,000
deferred contract revenue				-13,718,000	-14,301,000	-32,973,000	-62,727,000	-46,818,000	-61,784,000	103,446,000	-14,658,000	-13,037,000	-15,822,000	-14,422,000	-15,986,000	-25,018,000	-11,219,000	-21,134,000	-26,759,000	-23,717,000	-1,940,000	-14,615,000	-39,676,000	-19,679,000	-22,254,000	-23,386,000	-33,290,000	-40,353,000	47,086,000	-36,646,000	511,602,000	-27,788,000	-5,396,000	-27,114,000	-12,226,000	81,431,000	-15,892,000	-12,539,000	-15,870,000	-14,849,000	-15,608,000	50,823,000	-5,256,000	-7,841,000	17,169,000	-9,606,000	-13,236,000	-5,742,000
net cash from operating activities			151,338,000	-150,775,000	-116,139,000	-114,990,000	-119,880,000	-149,938,000	32,865,000	-109,022,000	-97,364,000	-133,992,000	-200,195,000	-24,429,000	-18,096,000	-31,650,000	203,687,000	-55,574,000	-62,652,000	-54,662,000	97,977,000	-10,357,000	-44,144,000	-7,584,000	277,932,000	-12,806,000	-27,111,000	107,705,000	115,490,000	-26,004,000	500,237,000	13,165,000	20,401,000	28,720,000	2,363,000	122,665,000	-25,959,000	23,406,000	-33,784,000	-75,768,000	-37,474,000	36,218,000	65,207,000	-42,826,000	70,684,000	1,944,000	-34,015,000	-32,328,000	-14,492,000	65,821,000	22,740,000	-10,576,000	36,035,000	-24,871,000	-2,577,000	-6,711,000		-24,448,000	-26,177,000	-39,842,000		-21,429,000	5,030,000	-21,691,000		-32,193,000	-10,370,000	-34,346,000	-19,176,000	-21,549,000	177,642,000	75,114,000	12,404,000	-1,371,000	-20,795,000									-22,089,000	-31,418,000	-23,467,000
capital expenditures			0	-12,577,000	-25,497,000	-9,056,000	-6,234,000	-4,493,000	819,000	-2,141,000	-12,011,000	-10,472,000	-4,139,000	-5,542,000	-3,335,000	-2,705,000	-2,502,000	-3,323,000	-4,358,000	-1,772,000	-5,149,000	-11,793,000	-9,098,000	-9,080,000	-7,762,000	-15,900,000	-4,014,000	-3,229,000	-1,387,000	-3,244,000	-6,634,000	-2,343,000	-8,262,000	-17,049,000	-6,216,000	-3,237,000	-2,794,000	-1,050,000	-2,635,000	-628,000	-2,411,000	-1,341,000	-3,062,000	-878,000	-3,549,000	-869,000	-1,697,000	-1,403,000	0	0	0	0	0	0	0	0		0	0	0		0	0	0		0	0	0	0	0	0	0	0	0	0									0	0	0
free cash flows			151,338,000	-163,352,000	-141,636,000	-124,046,000	-126,114,000	-154,431,000	33,684,000	-111,163,000	-109,375,000	-144,464,000	-204,334,000	-29,971,000	-21,431,000	-34,355,000	201,185,000	-58,897,000	-67,010,000	-56,434,000	92,828,000	-22,150,000	-53,242,000	-16,664,000	270,170,000	-28,706,000	-31,125,000	104,476,000	114,103,000	-29,248,000	493,603,000	10,822,000	12,139,000	11,671,000	-3,853,000	119,428,000	-28,753,000	22,356,000	-36,419,000	-76,396,000	-39,885,000	34,877,000	62,145,000	-43,704,000	67,135,000	1,075,000	-35,712,000	-33,731,000	-14,492,000	65,821,000	22,740,000	-10,576,000	36,035,000	-24,871,000	-2,577,000	-6,711,000		-24,448,000	-26,177,000	-39,842,000		-21,429,000	5,030,000	-21,691,000		-32,193,000	-10,370,000	-34,346,000	-19,176,000	-21,549,000	177,642,000	75,114,000	12,404,000	-1,371,000	-20,795,000									-22,089,000	-31,418,000	-23,467,000
investing activities:
purchases of short-term investments				-311,068,000	-333,631,000	-715,360,000	-284,866,000	-519,001,000	-417,714,000	-420,738,000	-244,084,000	-688,278,000	-261,981,000	-560,596,000	-200,340,000	-462,855,000	-193,230,000	-190,242,000	-410,670,000	-330,051,000	-193,779,000	-400,347,000	-431,909,000	-544,375,000	-329,000,000	-568,452,000	-556,493,000	-492,781,000	-638,400,000	-507,433,000	-557,745,000	-91,157,000	-288,155,000	-241,739,000	-81,731,000	-266,185,000	-66,426,000	-152,672,000	-40,448,000	-41,366,000	-95,391,000	-157,506,000	-200,357,000	-40,213,000	-141,303,000	-71,384,000	-110,011,000	-69,185,000
proceeds from sale of short-term investments	395,119,000	422,206,000	385,790,000	494,755,000	429,888,000	370,871,000	367,577,000	600,836,000	390,952,000	492,690,000	326,671,000	374,363,000	225,051,000	383,726,000	201,538,000	178,837,000		323,998,000	315,952,000	411,907,000		515,260,000	522,821,000	459,352,000
purchases of property, plant and equipment				-12,577,000	-25,497,000	-9,056,000	-6,234,000	-4,493,000	819,000	-2,141,000	-12,011,000	-10,472,000	-4,139,000	-5,542,000	-3,335,000	-2,705,000	-2,502,000	-3,323,000	-4,358,000	-1,772,000	-5,149,000	-11,793,000	-9,098,000	-9,080,000	-7,762,000	-15,900,000	-4,014,000	-3,229,000	-1,387,000	-3,244,000	-6,634,000	-2,343,000	-8,262,000	-17,049,000	-6,216,000	-3,237,000	-2,794,000	-1,050,000	-2,635,000	-628,000	-2,411,000	-1,341,000	-3,062,000	-878,000	-3,549,000	-869,000	-1,697,000	-1,403,000
acquisition of licenses and other assets				-651,000	-2,547,000	12,750,000	-14,027,000	-1,237,000	-792,000	-1,100,000	-1,061,000	-1,253,000	-867,000	-1,518,000	-1,167,000	-826,000			-1,954,000	-1,228,000	-1,725,000	-1,180,000	-2,119,000	-904,000	-1,181,000	-1,886,000	-1,278,000	-1,032,000	-727,000	-1,463,000	-1,116,000	-738,000	-804,000	-696,000	-610,000	-983,000	-1,047,000	-1,179,000	-1,813,000	-382,000	-722,000	-1,585,000	-1,030,000	-719,000	-1,143,000	-652,000	-1,458,000	-333,000
net cash from investing activities		91,338,000	-120,068,000	170,459,000	68,213,000	-340,795,000	62,450,000	76,105,000	-26,713,000	68,711,000	69,515,000	-325,640,000	212,147,000	-183,930,000	-3,304,000	-287,549,000	95,109,000	121,971,000	-101,030,000	78,856,000	187,849,000	101,940,000	79,695,000	-95,007,000	138,191,000	1,396,000	-110,687,000	-70,174,000	-326,207,000	-307,671,000	-375,171,000	79,486,000	-54,212,000	-150,099,000	14,695,000	-168,675,000	20,801,000	-57,088,000	53,457,000	39,429,000	27,964,000	-29,279,000	-95,387,000	36,650,000	-50,788,000	-24,487,000	-32,394,000	24,821,000					5,035,000	-10,608,000						56,718,000	-7,242,000			14,958,000																-32,794,000				10,744,000	19,289,000	29,059,000
financing activities:
proceeds from issuance of common stock through equity plans	107,817,000	81,259,000	1,287,000	2,241,000	402,000
proceeds from issuance of common stock in public offering					27,000
proceeds from issuance of 0 percent convertible senior notes due 2030
0 percent convertible senior notes due 2030 issuance costs
repurchase of 200 million principal amount of 0 percent convertible senior notes due 2026
repayment of 0.125 percent convertible senior notes due 2024
proceeds from issuance of 1.75 percent convertible senior notes due 2028
1.75 percent convertible senior notes due 2028 issuance costs
proceeds from sale of future royalties									0	0	0	500,000,000
payments of transaction costs related to sale of future royalties									0	0	0	-10,434,000
proceeds from real estate transaction									0
principal payments on mortgage debt				-42,000	-41,000	-48,000	-39,000	-39,000		-47,000	-36,000	-39,000
net cash from financing activities	591,176,000	81,218,000	1,247,000	2,199,000	-44,116,000	496,047,000	2,557,000	23,570,000	40,724,000	-32,267,000	143,538,000	492,087,000	-51,019,000	1,834,000	1,215,000	-7,325,000	-62,490,000	1,458,000	314,542,000	-7,577,000	-521,480,000	10,937,000	8,435,000	-94,501,000	19,225,000	-13,174,000	34,510,000	59,460,000	9,646,000	8,076,000	452,919,000	5,224,000	4,257,000	147,572,000	1,712,000	75,546,000	5,568,000	5,423,000	-476,000	879,000	11,714,000	167,000	1,319,000	11,526,000	49,882,000	1,682,000	-1,288,000	9,312,000	3,327,000	17,355,000	197,992,000	9,050,000	-1,151,000	34,397,000							2,675,000	-401,000	2,354,000	68,000	2,708,000	5,127,000	835,000	193,331,000	9,318,000											-2,410,000				2,420,000	2,743,000	1,048,000
effects of exchange rates on cash	-43,000	-82,000	595,000	232,000	-486,000	350,000	-23,000	-114,000	330,000	-152,000	70,000	104,000	546,000	-399,000	-411,000	-154,000	-68,000	-21,000	104,000	-126,000	259,000
net increase in cash and cash equivalents	33,919,000	41,037,000	33,112,000	22,115,000	-92,528,000	40,612,000	-54,896,000	-50,377,000	47,206,000	-72,730,000	115,759,000	32,559,000	-38,521,000	-206,924,000	-20,596,000	-326,678,000	236,238,000	67,834,000	150,964,000	16,491,000			43,986,000	-197,092,000	435,348,000	-24,584,000	-103,288,000	96,991,000	-201,071,000	-325,599,000	577,985,000	97,875,000	-29,554,000	26,193,000	18,770,000	29,536,000								5,350,000	69,778,000	-20,861,000	-67,697,000	1,805,000	-96,435,000	-40,132,000			39,919,000	-1,082,000						16,148,000								30,072,000	-40,697,000	-181,038,000	173,784,000	133,322,000		-50,459,000	68,909,000	10,276,000										6,640,000
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
supplemental disclosures of cash flow information:
interest paid	5,383,000	185,000	5,122,000	92,000		145,000	5,474,000	95,000		423,000	440,000	89,000		660,000	950,000	594,000		661,000	2,272,000	594,000		607,000	2,492,000	601,000		698,000	4,109,000	667,000		681,000	4,109,000	644,000		413,000	3,501,000	106,000		881,000	3,383,000	31,000		856,000	3,340,000	37,000		57,000	2,837,000	83,000		102,000	2,864,000	113,000		3,309,000	64,000	2,211,000	157,000	2,249,000	123,000	2,275,000	195,000	2,281,000	132,000	2,281,000	217,000	2,270,000	146,000	2,250,000	125,000	2,174,000	64,000	2,244,000	2,606,000	2,521,000	860,000	3,778,000	381,000	3,863,000	409,000	3,859,000	516,000	3,980,000	522,000	333,000	3,955,000	570,000
income taxes paid (refunds received)
supplemental disclosures of non-cash investing and financing activities:
right-of-use assets obtained in exchange for lease obligations	0	79,686,000
amounts accrued for capital and patent expenditures	0	333,000	-315,000	460,000		787,000	529,000	924,000		90,000	-2,807,000	3,058,000		1,911,000	-223,000	1,344,000		1,533,000	-1,598,000	1,876,000		115,000	1,558,000	4,903,000		178,000	1,209,000	1,864,000		-349,000	554,000	2,091,000		1,770,000	57,000	1,648,000		859,000	-862,000	2,524,000		-719,000	-32,000	1,198,000		2,751,000	-1,053,000	1,506,000		-220,000	340,000	715,000		160,000	-165,000	844,000	-476,000	298,000	-142,000	1,222,000	-5,000	96,000	-5,000	836,000	-370,000	326,000	-4,102,000	5,016,000	216,000	1,190,000	95,000	1,372,000	-519,000	101,000	443,000
inducement related to repurchase of 0 percent convertible senior notes due 2026
cash and cash equivalents at beginning of period		0	0	242,077,000		0	0	399,266,000		0	0	276,472,000		0	0	869,191,000		0	0	397,664,000		0	0	683,287,000		0	0	278,820,000		0	0	129,630,000		0	0	84,685,000		0	0	128,797,000		0	0	142,998,000		0	0	159,973,000		0	0	124,482,000		0	0	65,477,000		0	0	70,052,000		0	0	105,255,000		0	0	223,985,000		0	0	138,614,000					0	47,235,000	3,650,000		0	0	27,250,000	0	0	33,117,000
cash and cash equivalents at end of period		41,037,000	33,112,000	264,192,000		40,612,000	-54,896,000	348,889,000		-72,730,000	115,759,000	309,031,000		-206,924,000	-20,596,000	542,513,000		67,834,000	150,964,000	414,155,000		102,878,000	43,986,000	486,195,000		-24,584,000	-103,288,000	375,811,000		-325,599,000	577,985,000	227,505,000		26,193,000	18,770,000	114,221,000		-28,259,000	19,197,000	93,337,000		7,106,000	-28,861,000	148,348,000		-20,861,000	-67,697,000	161,778,000		-40,132,000	188,890,000	107,650,000		-1,082,000	29,254,000	56,391,000		-29,759,000	-1,178,000	86,200,000		54,084,000	-52,552,000	98,590,000		-66,496,000	-38,268,000	254,057,000		-181,038,000	173,784,000	271,936,000							1,711,000		45,234,000	-4,018,000	12,006,000	-8,925,000	-9,386,000	39,757,000
accrued liabilities and other current liabilities			3,202,000	333,000	-14,332,000	10,540,000	3,686,000	-42,887,000	18,713,000	13,343,000	-9,102,000	-28,460,000	8,432,000	-6,907,000	34,697,000	10,473,000	11,145,000	-4,612,000	-3,009,000	-11,905,000
income taxes paid				-400,000		80,000	1,979,000	13,000		204,000	217,000	293,000		0	0	2,000				2,000		23,483,000	46,000	3,000																										0	0	2,000						0	0	2,000		0	0	7,700,000	3,000,000	3,400,000	6,455,000	350,000
amortization of premium (discount) on investments									-8,489,000	-7,915,000	-7,439,000	-5,042,000								4,023,000	3,709,000	3,970,000	2,780,000	1,062,000	-421,000	-1,901,000
loss on sale of real estate assets
proceeds from sale of real estate assets
repayment of 0.125 percent convertible senior notes
proceeds from issuance of 1.75 percent convertible senior notes									0	0
1.75 percent convertible senior notes issuance costs									0	-517,000
payments of tax withholdings related to vesting of employee stock awards and exercise of employee stock options													-736,000	-645,000	-399,000	-9,173,000	-440,000	-490,000	-458,000	-15,337,000	-451,000
repurchase of 504.4 million principal amount of 0.125 percent convertible senior notes									0
proceeds from equity							2,596,000	23,609,000	40,762,000	3,730,000	2,390,000	2,560,000	343,000	2,568,000	1,614,000	1,848,000	1,000	1,922,000	1,882,000	7,760,000
repurchase of 434.1 million principal amount of 0.125 percent convertible senior notes
loss on early retirement of debt																	0	0
purchases of strategic investments
proceeds from the issuance of 0 percent convertible senior notes
0 percent convertible senior notes issuance costs																	-84,000	26,000
repurchase of 247.9 million principal amount of 1 percent convertible senior notes																	0
repayment of remaining principal amount of 1 percent convertible senior notes at maturity
proceeds from issuance of warrants																	0	0
purchase of note hedges																	0	0
principal payments on debt
income taxes payable										6,338,000	7,446,000	11,037,000		2,000					549,000	2,000
right-of-use assets obtained in exchange for lease liabilities																										258,000	363,000	13,557,000
amortization of premium on investments													-1,683,000	1,205,000	3,692,000	4,175,000		4,691,000										-2,433,000		-1,054,000	653,000	1,192,000	1,525,000	1,669,000	1,950,000	1,608,000	1,499,000	1,521,000	1,754,000	2,039,000	2,317,000	2,118,000	1,628,000	1,749,000	1,821,000	1,802,000	2,471,000	1,376,000
gain on sale of real estate assets
gain on investments																-10,000	-159,000	-60,000	-860,000	-13,000		-835,000																			125,000	-199,000			-581,000	-538,000	260,000	-397,000
deferred income taxes, including changes in valuation allowance
long-term income taxes receivable
royalty monetization issuance costs
repurchases and retirements of common stock																					0	0	2,000	-90,550,000
purchase of noncontrolling interest of akcea therapeutics, inc., including cash payments for cancellation of akcea therapeutics, inc. equity awards
amortization of patents														608,000	605,000	592,000	612,000	603,000	593,000	544,000	538,000	527,000	513,000	486,000	773,000	191,000	478,000	470,000	466,000	461,000	452,000	443,000	425,000	414,000	409,000	393,000	381,000	397,000	398,000	376,000	369,000	364,000	336,000	312,000	301,000	298,000	280,000	263,000
non-cash losses related to patents														204,000	841,000	110,000	1,557,000	323,000	606,000	221,000
purchase of bicycle therapeutics plc common stock
proceeds from the issuance of 0 percent convertible notes
repurchase of 247.9 million principal amount of the 1 percent convertible senior notes
income taxes receivable																865,000
net income																					-341,426,000	-43,091,000	-43,769,000	-58,480,000	203,958,000	18,431,000	-10,011,000	90,884,000			-56,569,000	-10,812,000				3,468,000
adjustments to reconcile net income to net cash from operating activities:
proceeds from the sale of short-term investments																												426,868,000	314,307,000	204,469,000	190,324,000	173,724,000	243,509,000	111,385,000	103,252,000	99,223,000	86,601,000	97,813,000	98,353,000	81,805,000	126,475,000	105,587,000	109,062,000	78,460,000	71,831,000	47,119,000	80,489,000	95,288,000	37,632,000	38,204,000	47,850,000	49,076,000	53,262,000	46,716,000	80,900,000	61,781,000	117,046,000	73,695,000	127,849,000	170,328,000	94,057,000	181,203,000	143,652,000	158,621,000	138,181,000	182,281,000	159,451,000	98,973,000	153,724,000	19,499,000	30,093,000	62,635,000	27,778,000	44,617,000	24,481,000	12,575,000	20,050,000	16,950,000	23,000,000	13,435,000	8,590,000	19,203,000	8,985,000	33,921,000	44,566,000	64,181,000
proceeds from the issuance of 0.125 percent convertible senior notes
0.125 percent convertible senior notes issuance costs
principal payments on line of credit
provision for deferred income taxes																						-962,000	924,000	-3,437,000		-10,333,000	887,000	13,549,000
income taxes (payable) receivable
acquisition of patents
proceeds from issuance of 0 percent convertible senior notes																		0
payments of transaction costs for akcea merger
amounts accrued for akcea merger transaction costs
amortization of convertible senior notes discount																					9,245,000	9,105,000	8,973,000	8,834,000	10,591,000	9,086,000	8,935,000	8,726,000	8,582,000	8,417,000	8,281,000	8,083,000	7,957,000	7,800,000	7,657,000	7,506,000
long-term income tax receivable
accrued liabilities and deferred rent																									12,590,000	626,000	-10,473,000	13,756,000	-2,631,000	-6,174,000	-6,523,000	-1,695,000	33,815,000	-4,102,000	5,124,000	-6,273,000
purchase of strategic investments
proceeds from the issuance of common stock to biogen																													0	0
non-cash losses related to patents, licensing and property, plant and equipment and investments																						405,000	298,000	-87,000
other current liabilities																						15,163,000	597,000	-2,565,000
proceeds from issuance of equity																						12,997,000	8,801,000	7,652,000																												11,823,000	1,681,000	6,172,000	979,000	638,000	2,013,000	678,000
payments of transaction costs for akcea acquisition
principal payments on debt obligations
net decrease in cash and cash equivalents																																					410,000	-28,259,000	19,197,000	-35,460,000		7,106,000
amounts accrued for akcea acquisition transaction costs
payments of tax withholdings related to vesting of employee stock awards and exercise ofemployee stock options																							-368,000	-11,603,000
amortization of long-term financing liability for leased facility																																	0	307,000	1,677,000	1,675,000	1,675,000	1,673,000	1,673,000	1,672,000	1,671,000	1,667,000	1,665,000	1,662,000	1,660,000	1,656,000	1,654,000	1,652,000
gain on investment in regulus therapeutics, inc.																																		0	0	-374,000
loss on extinguishment of financing liability for leased facility																																	0
deferred income taxes
non-cash losses related to patents, licensing, property, plant and equipment and investments
proceeds from the sale of regulus therapeutics, inc.
principal payments on debt and capital lease obligations																																	-22,000	-299,000	-1,638,000	-1,640,000	-1,638,000	-1,711,000	-1,860,000	-1,857,000	-1,795,000	-2,073,000	-2,600,000	-2,590,000	-2,584,000	-2,611,000	-2,701,000	-2,691,000
proceeds from issuance of common stock in akcea therapeutics, inc. from its initial public offering, net of underwriters’ discount
proceeds from building mortgage debt, net of issuance costs																																	0
proceeds from the issuance of common stock to novartis																																	0
proceeds from the sale of akcea therapeutics, inc. common stock to novartis in a private placement
offering costs paid																																	-980,000	-26,000	-253,000	-778,000
payment to settle financing liability for leased facility																																	0
non-cash losses related to patents, licensing and property, plant and equipment																										13,000	189,000	14,000		67,000	240,000	175,000		-532,000	36,000	93,000	1,163,000	670,000	68,000	396,000	1,637,000	78,000	73,000	93,000	552,000	428,000	217,000	108,000
proceeds from short-term investments																										587,634,000
proceeds from equity awards																										10,133,000	34,947,000	67,057,000		8,076,000	4,503,000	5,675,000		7,745,000	3,603,000	6,324,000		3,134,000	1,384,000	2,736,000	4,613,000	2,240,000	3,919,000	14,116,000	5,362,000	4,293,000	1,413,000	12,003,000	6,060,000	20,019,000
purchases of property, plant and equipment included in long-term obligations
payments of tax withholdings related to vesting of employee stock awards																											-437,000	-7,597,000
gain on investment in regulus therapeutics inc.																																									0
non-cash losses related to patents, licensing, property, plant and equipment and strategic investments
proceeds from borrowing on line of credit facility																																					0
excess tax benefits from stock-based compensation awards
proceeds from the sale of regulus therapeutics stock																																		0
proceeds from the issuance of common stock from akcea therapeutics, inc.’s initial public offering, net of underwriters’ discount
unpaid deferred offering costs																																		165,000	154,000	319,000
stock issuance costs paid																																-451,000
amortization of licenses																																						0	0	1,000	468,000	468,000	468,000	469,000	470,000	471,000	470,000	471,000
proceeds from the sale of strategic investments																																									13,000				427,000	1,299,000	283,000	454,000																	0	0							0	2,936,000	2,245,000
proceeds from issuance of common stock in akcea therapeutics, inc. from its initial public offering, net of underwriters' discount
purchase of strategic investment in seventh sense biosystems
proceeds from the issuance of common stock in akcea therapeutics, inc. from its initial public offering, net of underwriters’ discount
proceeds from sale of akcea therapeutics, inc. common stock to novartis in a private placement
proceeds from sale of stock to novartis																																			0	71,640,000
proceeds from the sale of regulus therapeutics																																				2,507,000
amortization of 2¾ convertible senior notes discount
amortization of 1 percent convertible senior notes discount																																					5,490,000	5,381,000	5,280,000	5,175,000	5,077,000	4,979,000	4,884,000	4,788,000
share-based compensation expense
tax benefit from other unrealized gains on securities																																												-798,000			881,000	-2,276,000
deferred rent																																							53,000	48,000	42,000	-4,000	105,000	62,000	27,000	57,000	44,000	25,000
accrued liabilities																																							-7,199,000	-1,934,000	3,764,000	589,000	6,000	-6,704,000	1,312,000	5,081,000	-678,000	2,643,000
proceeds from issuance of 1 percent convertible senior notes, net of issuance costs
repurchase of 140 million of the principal amount of the 2¾ percent convertible senior notes
excess tax benefits from share-based compensation awards
amortization of 2¾ percent convertible senior notes discount																																						648,000	634,000	620,000		595,000	581,000	565,000				1,671,000
proceeds from the sale of equity investments
repurchase of 140 million principal amount of the 2¾ percent convertible senior notes
proceeds from public common stock offering
proceeds from equipment financing arrangement																																																	0	0			0	0			0	0			1,611,000	0			0	3,689,000	0	2,705,000
proceeds from the sale of regulus
amortization of 2⅝ percent convertible subordinated notes discount
equity in net loss of regulus therapeutics inc.
investment in regulus therapeutics inc.
proceeds from issuance of 2¾ percent convertible senior notes, net of issuance costs
principal and premium payment on redemption of the 2⅝ percent convertible subordinated notes
amortization of 23¤4 percent convertible senior notes discount																																														1,737,000
net proceeds from public common stock offering																																																		69,000
amortization of 25¤8 percent convertible subordinated notes discount
proceeds from issuance of 23¤4 percent convertible senior notes, net of issuance costs
principal and premium payment on redemption of the 25¤8 percent convertible subordinated notes
proceeds from sale of strategic investments																																																		172,000	844,000	1,094,000
principal and premium payment on redemption of the 25/8 percent convertible subordinated notes
amortization of 25/8 percent convertible subordinated notes discount
amortization of 23¤4 percent convertible subordinated notes discount
gain from the sale of property, plant and equipment
proceeds from the sale of property, plant and equipment																																																																																5,814,000	7,041,000	1,000,000	165,000
proceeds from land sold to biomed																																																													0	0	0	10,147,000
reduction of cash due to deconsolidation of regulus therapeutics inc. upon adoption of a new accounting standard
capitalized costs and financing liability associated with leased facility																																																									982,000	10,173,000
gain from sale of ibis biosciences, inc. to abbott molecular inc.
excess tax benefits on share-based compensation
purchases of strategic investments, net of proceeds received
proceeds from sale of ibis biosciences, inc to abbott molecular inc.
proceeds from alnylam’s capital contribution to regulus therapeutics inc.																																																																	0	0	0	10,000,000
income taxes paid, net of refund received
capital lease obligations
net cash provided by investing activities																																																																															13,338,000			19,496,000	4,394,000
net cash (used in) provided by financing activities
net cash (used in) provided by investing activities
net (decrease) increase in cash and cash equivalents
net proceeds from issuance of equity																																																												683,000	2,320,000	754,000	251,000	1,031,000	3,361,000	2,168,000	1,484,000	6,143,000	2,171,000	5,819,000	1,997,000	2,727,000	4,650,000	684,000	1,188,000	77,343,000	5,620,000	670,000	2,731,000	-1,000	48,797,000	19,000	353,000	743,000	401,000	2,172,000
supplemental disclosures of non-cash investing activities:
loss attributed to noncontrolling interest in ibis biosciences, inc.
gain from derivative instruments issued to abbott molecular inc.
proceeds from issuance of convertible promissory note to glaxosmithkline
proceeds from stock purchase by genzyme corporation, net of fees																																																																					0	0	0	49,962,000
cash and cash equivalents (including cash and cash equivalents classified as assets from discontinued operations of 0, 0 and 6.1 million at december 31, 2010, 2009 and 2008, respectively) at end of year
proceeds from sale of ibis biosciences, inc. to abbott molecular inc.																																																																		0	0	175,000,000
non-cash losses related to patents and property, plant and equipment
acquisition of symphony genisis, inc.
proceeds from issuance of 25/8 percent convertible subordinated notes, net of issuance costs
principal and redemption premium payment on prepayment of the 51/2 percent convertible subordinated notes
cash and cash equivalents (including cash and cash equivalents classified as assets from discontinued operations of 0, 6.1 million and 0 at december 31, 2009, 2008 and 2007, respectively) at end of year
common stock issued for symphony genisis, inc. acquisition
proceeds from issuance of convertible promissory note to gsk																																																																						0
loss attributed to noncontrolling interest in symphony genisis, inc.
loss attributed to noncontrolling interest in regulus therapeutics inc.
inventory
deferred contract revenues
purchase of short-term investments
proceeds from issuance of 25/8% convertible subordinated notes, net of issuance costs
principal and redemption premium payment on prepayment of the 51/2% convertible subordinated notes
proceeds from capital contributions to ibis biosciences, inc.																																																																					0	0
proceeds from capital contribution to regulus therapeutics inc.
proceeds from contribution to noncontrolling interest in symphony genisis, inc., net of fees
cash and cash equivalents (including cash and cash equivalents classified as assets held for sale of 6.1 million, 0 and 0 at december 31, 2008, 2007 and 2006, respectively) at end of year
warrant issued in conjunction with symphony genisis, inc. transaction																																																																												0	0
acquisition of property, plant and equipment
proceeds from capital contribution to regulus therapeutics llc
net cash provided by (used in) investing activities
net cash provided by financing activities																																																																							25,166,000	70,951,000			111,364,000				786,000				2,394,000
proceeds from issuance of 25¤8% convertible subordinated notes, net of issuance costs																																																																											157,067,000
proceeds from capital contribution to ibis biosciences, inc.																																																																								20,000,000
proceeds from issuance of 2 5/8% convertible subordinated notes, net of issuance costs
principal and redemption premium payment on prepayment of the 5 1/2% convertible subordinated notes
proceeds from purchase of noncontrolling interest in symphony genisis, inc, net of fees
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 54.8 million and 0 at december 31, 2006 and 2005, respectively) at beginning of period																																																																									0	0	114,514,000
cash and cash equivalents (including cash and cash equivalents held on behalf of regulus therapuetics llc of 10.0 million at september 30, 2007 and 58.6 million held by symphony genisis, inc. at september 30, 2006) at end of period
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 43.0 million and 64.4 million at june 30, 2007 and 2006, respectively) at end of period
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 49.6 million and 0 at march 31, 2007 and 2006, respectively) at end of period																																																																											183,423,000
amortization of (discount)/premium on investments
compensation benefit related to variable accounting of stock options
deferred interest on long-term debt
non-cash restructuring activities
non-cash losses related to patents and fixed assets
income from variable accounting of stock warrants
gain on disposal of property, plant and equipment
strategic investments in corporate securities
net cash from (used in) investing activities
proceeds from long-term borrowing
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 54.8 million, 0 and 0 at december 31, 2006, 2005 and 2004, respectively) at end of year
conversion of receivables into long-term investment
conversion of debt into common stock																																																																																0
conversion of preferred stock into common stock																																																																																				1,000
purchase of property, plant and equipment
other assets
strategic investments																																																																													0
proceeds from long-term borrowings																																																																																	-397,000	0	5,000,000	4,169,000	4,999,000	7,574,000
proceeds from purchase of noncontrolling interest in symphony genisis, inc., net of fees
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 58.6 million and 0 at september 30, 2006 and december 31, 2005, respectively) at end of period
net increase (decrease) in cash and cash equivalents
cash and cash equivalents (including cash and cash equivalents held by symphony genisis, inc. of 64.4 million and 0 at june 30, 2006 and december 31, 2005, respectively) at end of period
net cash used in operating activities																																																																															-16,063,000			-19,360,000	-22,032,000
compensation (benefit) related to stock options
licenses and other assets
investments in affiliates
conversion of contract receivable into long-term investment
additions to long-term investments for acquired corporate securities
decrease in inventory and deferred revenue
decrease in property, plant and equipment and notes payable
common stock warrants
supplemental disclosures of non-cash financing activities:

Ionis Pharmaceuticals, Inc(NASDAQ:IONS)

Ionis Pharmaceuticals, Inc
(NASDAQ:IONS)