IONS

Ionis Pharmaceuticals' stock (IONS) has experienced a significant decline in the past six months, down approximately 35% and reaching a 52-week low of $44.20 on September 23, 2026, with a 24.28% to 30.81% decrease over the past year. Key events impacting the stock include the negative impact in July 2026 from the failure of two high-profile partnered programs, pelacarsen and eplontersen, to meet primary endpoints in Phase 3 trials, which led to a 24% drop in shares. Conversely, September 2026 saw positive topline results from the Phase 3 FUSION study of ulefnersen for FUS-ALS. Product approvals also occurred, with Tryngolza receiving U.S. FDA approval for severe hypertriglyceridemia in June 2026 and Dawnzera receiving EU approval for hereditary angioedema prevention in January 2026, both expected to contribute to future revenue growth. However, the company's Q2 2026 earnings reported a significant 41% year-over-year revenue decline to $268 million and a net loss of $115 million, contributing to the stock's weakness.