Ionis reports lower revenue and wider operating loss in Q2 FY26
Ionis posted Q2 GAAP revenue of $268 million, down 40.71% year over year; operating loss widened to $102 million from operating income of $140 million.
GAAP net loss was $115 million, swinging from net income of $124 million; diluted loss per share was $0.69 versus earnings per share of $0.70.
Commercial revenue rose 15% to $119 million, while R&D revenue fell 57.31% to $149 million, excluding a prior-year one-time sapablursen upfront payment.
TRYNGOLZA generated net product sales of $5 million, DAWNZERA delivered $26 million; cash and short-term investments were $2.1 billion at June 30.
Management cited early TRYNGOLZA sHTG launch momentum, expects Alexander disease decision for zilganersen by Sept. 22, 2026, and reiterated it is on track for 2026 guidance.
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