Company / R&D Expense
IONIS PHARMACEUTICALS INC R&D Expense History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest R&D Expense
$915.6M
FY2025
5-year range
$461.5M / $915.6M
FY2021-FY2025
Trend
+1.6%
vs FY2024
Sector context
#21 of 210
Health Care
What the data says
Among 210 Health Care companies, IONIS PHARMACEUTICALS INC is in the top 10% for r&d expense. R&D Expense has increased for 6 consecutive years, from $340M in FY2018 to $916M in FY2025.
Based on SEC 10-K filings.
$916M in FY2025 with a 5-year CAGR of +17.3%. Top quartile in the Health Care sector.
Remained stable around $916M over the past 2 years.
Health Care sector context is included.
R&D Expense over time
Growth rates
- 3-Year CAGR
- -
- 5-Year CAGR
- +17.3%
- 10-Year CAGR
- -
Sector benchmark
Top 10% in Health CareTop 10% of 210This company $915.6M Sector average $644.0M
▼
+42.2% above sector average
Key checks
Key Insights
- 5-year CAGR of +17.3%, indicating consistent growth.
- In FY2025, r&d expense increased 1.6% year-over-year.
- Ranks #21 out of 210 companies in the Health Care sector.
- Lowest r&d expense in the period was in FY2018.
Company context
Key Data Points
- Altman Z-Score -0.18 (distress zone, below 1.8 threshold)
- High earnings quality (cash-backed earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
Annual data
| Year | R&D ExpenseValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | $915.6M | +1.6% |
| FY2024 | $901.5M | +0.2% |
| FY2023 | $899.6M | - |
| FY2022 | - | - |
| FY2021 | $461.5M | +12.0% |
| FY2020 | $411.9M | +10.6% |
| FY2019 | $372.5M | +9.4% |
| FY2018 | $340.4M | -8.6% |
| FY2017 | $372.5M | +9.4% |
| FY2016 | $340.4M | +6.5% |
As of FY2025 · SEC 10-K · Updated Jun 30, 2026