Ionis (IONS) Q4 FY25 earnings call

Ionis transitioned to a fully integrated commercial-stage company in FY25, marked by successful independent launches of TRYNGOLZA and DAWNZERA, alongside multiple positive pipeline readouts. The company is poised for further growth in 2026 with additional anticipated launches and late-stage data, aiming for cash flow breakeven by 2028. Near-term revenue for TRYNGOLZA is expected to decline ahead of a broader sHTG launch, as the company navigates payer discussions and pricing strategies.