All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
1 warning event since 2017; the latest 2022-07-28.
From the record
Ionis Pharmaceuticals, Inc.'s filings since 2017 show 1 warning event: a notice about its exchange listing (8-K item 3.01, the latest 2022-07-28) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+10.9% a year over 10 filed years; profitable in 3 of 10.
From the record
Ionis Pharmaceuticals, Inc.'s 10 filed years say what it did: revenue went from $373 million in fiscal 2016 to $944 million in fiscal 2025, up 10.9% a year; it rose in 6 of 9 years; the deepest fall was 48% from fiscal 2019 to fiscal 2022; net income was positive in 3 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 7.6/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Ionis Pharmaceuticals, Inc.'s shareholder treatment is put at 7.6 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 24% of 464 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -78%: lost 78¢ per shareholder dollar. Leverage 86%: owes 86¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Ionis Pharmaceuticals, Inc. lost about 78 cents for every dollar of shareholders' money, and gross profitability: its products earned about 26 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 86 cents per dollar of assets, and net share issuance: its share count grew 7.0% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 31% of 315 in its family; net margin -40.4%.
From the record
Ionis Pharmaceuticals, Inc.'s standing among 315 graded names in its industry family: revenue of $944 million in fiscal 2025 ranks in the top 12% by size; a net margin of -40.4% ranks in the top 39%; revenue growth of 17.1% a year over the last 3 filed years ranks in the top 40% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
top 22% of 315 in its family for leadership; chief executive since 2020.
From the record
Ionis Pharmaceuticals, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Monia, Brett P (Chief Executive Officer, as filed), filing under that title since 2020-01-03, 6.9 years (top 29% of its family); the 23 officers and directors filing in the last fifteen months have been on the record a median of 8.1 years (top 19%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 23 people in charge now (top 18%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
top 49% of 273 in its family for room to expand.
From the record
Ionis Pharmaceuticals, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $372 million against debt of $1.8 billion leaves -40.9% of its assets as net cash, bottom 2% of its family; cash from operations less capital spending is -33.9% of revenue (top 42%); a gross margin of 98.3% (top 4%); research spending of 97% of revenue (bottom 49%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
top 27% of 306 in its family for growth drivers.
From the record
Ionis Pharmaceuticals, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 17.1% a year over the last three filed years against 10.9% over all 10, speeding up (top 22% of its family); the newest year grew 33.9% (top 31%); research spending grew 9.4% a year (top 39%); capital spending grew 48.4% a year (top 16%) (its annual reports). Ionis Pharmaceuticals, Inc. reported 8 product lines in fiscal 2025: Collaborative Agreement Revenue at $466 million (49%), Spinraza Royalties at $212 million (23%), Tryngolza Sales at $108 million (11%), and 5 more; 3 of 6 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 45% of 233 in its family for expectations against reality.
From the record
Ionis Pharmaceuticals, Inc.'s newest year against its own record: revenue of $944 million in fiscal 2025 came in 22.2% above the $773 million its prior three years' pace pointed to (top 28% of its family); net income of $381 million against a prior three-year average of $363 million (bottom 40%); a net margin of -40.4% against -52.3% before (top 48%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made