{"id":61661,"date":"2025-07-30T13:05:26","date_gmt":"2025-07-30T11:05:26","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/ionis-reports-second-quarter-2025-financial-results-and-highlights-progress-on-key-programs\/"},"modified":"2025-07-30T13:05:26","modified_gmt":"2025-07-30T11:05:26","slug":"ionis-reports-second-quarter-2025-financial-results-and-highlights-progress-on-key-programs","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/ionis-reports-second-quarter-2025-financial-results-and-highlights-progress-on-key-programs\/","title":{"rendered":"Ionis reports second quarter 2025 financial results and highlights progress on key programs"},"content":{"rendered":"<div>\n<p class=\"bwalignc\">\n<i>&#8211; TRYNGOLZA<sup>TM <\/sup>delivers $19 million in net product sales in the second quarter 2025 &#8211;<\/i><\/p>\n<p class=\"bwalignc\">\n<i>&#8211; Donidalorsen approval in hereditary angioedema (HAE) anticipated next month; Ionis\u2019 second independent launch &#8211;<\/i><\/p>\n<p class=\"bwalignc\">\n<i>&#8211; Phase 3 data from the pivotal CORE and CORE2 studies in severe hypertriglyceridemia (sHTG) expected in September 2025 &#8211;<\/i><\/p>\n<p class=\"bwalignc\">\n<i>&#8211; Increasing 2025 financial guidance based on strong performance and improved outlook &#8211;<\/i><\/p>\n<p>CARLSBAD, Calif.&#8211;(BUSINESS WIRE)&#8211;Ionis Pharmaceuticals, Inc. (Nasdaq: IONS) (the \u201cCompany\u201d) today reported financial results and provided key updates for the second quarter ended June 30, 2025.<\/p>\n<p><a href=\"https:\/\/mms.businesswire.com\/media\/20250730350664\/en\/2366088\/5\/Ionis_Logo_RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250730350664\/en\/2366088\/22\/Ionis_Logo_RGB.jpg\"><\/a><br \/><a href=\"https:\/\/mms.businesswire.com\/media\/20250730350664\/en\/2366088\/5\/Ionis_Logo_RGB.jpg\"><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20250730350664\/en\/2366088\/21\/Ionis_Logo_RGB.jpg\"><\/a><\/p>\n<p>\n\u201cDuring the second quarter, we continued to build momentum across our business,\u201d said Brett P. Monia, Ph.D., chief executive officer of Ionis. \u201cOur strong performance included excellent commercial execution, resulting in a substantial increase in TRYNGOLZA revenues, our first independently launched medicine. We expect additional advancements in the second half, including Ionis\u2019 second independent launch with donidalorsen for hereditary angioedema, anticipated next month, and important Phase 3 results for olezarsen in severe hypertriglyceridemia and zilganersen in Alexander disease. We believe these four programs collectively represent multi-billion-dollar revenue potential and a transformational opportunity for Ionis and for patients.\u201d<\/p>\n<p>\n<b>Second Quarter 2025 Summary Financial Results<sup>(1)<\/sup>:<\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nThree months ended<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSix months ended<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth10 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"4\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n(amounts in millions)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$452<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$225<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$584<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$345<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$312<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$291<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$591<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$560<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating expenses on a non-GAAP basis<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$282<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$260<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$532<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$498<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome (loss) from operations<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$140<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($66)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($7)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($215)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth60\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome (loss) from operations on a non-GAAP basis<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$170<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($35)<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$52<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($153)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(1)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nReconciliation of GAAP to non-GAAP basis contained later in this release.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n<b>Recent Financial Highlights<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nRevenue doubled in the second quarter of 2025 and increased nearly 70% in the first half compared to the same period last year, driven by the continued successful launch of TRYNGOLZA and increased royalty and R&amp;D revenues<\/li>\n<li>\nOperating expenses increased by single digits in the second quarter and first half of 2025, compared to the same periods last year, primarily due to investments related to commercialization efforts for TRYNGOLZA, donidalorsen and WAINUA<\/li>\n<li>\nIncreased 2025 financial guidance reflects an improved outlook for the full year, strong overall revenue performance experienced year-to-date, including the early strength in TRYNGOLZA revenues:<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin\">\nFull Year 2025 Guidance<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPrevious<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nGuidance<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwpadl0 bwwidth20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNew<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nGuidance<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal Revenue<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$725-750 million<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$825-850 million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTRYNGOLZA<sup> <\/sup>product sales, net<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nNot provided<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$75-80 million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperating loss on a non-GAAP basis<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n&lt;$375 million<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$300-325 million<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth57\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash, cash equivalents and short-term investments<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth21\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n~$1.9 billion<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth20\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n~$2.0 billion<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n<b>Second Quarter 2025 Financial Results<\/b><\/p>\n<p>\n\u201cFor the second time this year, we are significantly raising our 2025 financial guidance \u2014 this time driven by an improved outlook for the year and strong revenue performance to date, which includes the early launch excellence with TRYNGOLZA. In addition to strong commercial performance, our second quarter results included the substantial revenue we earned from licensing sapablursen, a medicine outside our core areas of focus. We are in a strong financial position, with a commitment to drive operating leverage as we continue executing on our strategic priorities,\u201d said Elizabeth L. Hougen, chief financial officer, Ionis. \u201cMoving forward, the three additional independent launches anticipated over the next eighteen months, including donidalorsen for hereditary angioedema, olezarsen in severe hypertriglyceridemia and zilganersen in Alexander disease, position Ionis to deliver substantial and growing product revenue. This product revenue, coupled with anticipated increasing royalty revenue from multiple partner launches, along with disciplined investment, position Ionis to achieve sustained growth and positive cash flow in the next few years.\u201d<\/p>\n<p>\n<b>Recent Highlights &#8211; Wholly Owned Medicines<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nTRYNGOLZA<sup>TM<\/sup> (olezarsen), the first and only FDA approved treatment for adults living with familial chylomicronemia syndrome (FCS) as an adjunct to diet<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nGenerated net product sales of $19 million in the second quarter of 2025, its second full quarter on the market, and $26 million in the first half of 2025<\/li>\n<li>\nReceived a positive opinion from the Committee for Medicinal Products for Human Use (CHMP), paving the way to bring TRYNGOLZA to patients across Europe<\/li>\n<\/ul>\n<\/li>\n<li>\nOlezarsen on track for topline Phase 3 data from pivotal CORE and CORE2 studies in patients with sHTG in September 2025, positioning olezarsen to potentially treat this second, more prevalent patient population with high unmet need<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nAnnounced positive topline results from the Essence study in people with moderately elevated triglycerides; achieved primary and all key secondary endpoints for 80 mg and 50 mg monthly doses with favorable safety and tolerability<\/li>\n<\/ul>\n<\/li>\n<li>\nDonidalorsen on track to launch this year, assuming approval, with a U.S. PDUFA date of August 21, 2025<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nPoised to transform the treatment paradigm for individuals with hereditary angioedema (HAE) as the first and only RNA-targeted prophylactic therapy that has the potential to offer durable efficacy, a favorable safety and tolerability profile, and the longest available dosing interval, with self-administration via autoinjector monthly or every other month<\/li>\n<li>\nDonidalorsen is currently under regulatory review in the EU<\/li>\n<\/ul>\n<\/li>\n<li>\nFirst patient dosed in the Phase 3 REVEAL study of ION582, an investigational medicine for the treatment of people living with Angelman syndrome (AS), a serious and rare neurodevelopmental disorder<\/li>\n<\/ul>\n<p>\n<b>Recent Highlights \u2013 Partnered Medicines<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nWAINUA<sup>TM<\/sup> (eplontersen) (WAINZUA in EU) for the treatment of adults with polyneuropathy of hereditary transthyretin-mediated amyloidosis (ATTRv-PN) continues to perform well, achieving several important commercial milestones:<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nGenerated sales of $44 million and $84 million resulting in royalty revenue of $10 million and $20 million in the second quarter and first half of 2025, respectively<\/li>\n<li>\nNew launches underway in numerous regions, including the EU; additional submissions in progress to expand WAINUA access globally<\/li>\n<\/ul>\n<\/li>\n<li>\nSPINRAZA<sup>\u00ae<\/sup> (nusinersen) for the treatment of spinal muscular atrophy (SMA) generated global sales of $393 million and $817 million resulting in royalty revenue of $54 million and $102 million in the second quarter and first half of 2025, respectively<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nHigher dose nusinersen under review for marketing approval in the U.S. (PDUFA date of September 22, 2025) and in the EU<\/li>\n<\/ul>\n<\/li>\n<li>\nBiogen to advance salanersen (formerly ION306\/BIIB115), an investigational medicine for SMA into registrational studies based on positive interim Phase 1 results; developed using novel Ionis antisense chemistry with the potential to achieve high efficacy and annual dosing<\/p>\n<ul class=\"bwlistcircle\">\n<li>\nPhase 1 data with salanersen in SMA patients showed substantial slowing of neurodegeneration and clinically meaningful improvements in patients previously treated with gene therapy<\/li>\n<\/ul>\n<\/li>\n<li>\nAstraZeneca initiated the Phase 2b study of opemalirsen (formerly ION532\/AZD2373), an investigational medicine designed to reduce the production of apolipoprotein L1 (APOL1) for the treatment of APOL1-mediated kidney disease (AMKD) triggering a $30 million milestone payment to Ionis<\/li>\n<\/ul>\n<p>\n<b>Corporate Updates<\/b><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nIn June 2025, Ionis announced that Richard Geary, Ph.D., executive vice president and chief development officer, will retire effective January 2026 and that Holly Kordasiewicz, Ph.D., currently senior vice president, neurology, will succeed him in the role<\/li>\n<\/ul>\n<p>\n<b>Revenue<\/b><\/p>\n<p>\nIonis\u2019 revenue was comprised of the following:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nThree months ended<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSix months ended<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n(amounts in millions)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCommercial revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nProduct sales, net:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTRYNGOLZA sales, net<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$19<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$-<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$26<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$-<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal product sales, net<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n26<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRoyalty revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nSPINRAZA royalties<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n54<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n57<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n102<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n95<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nWAINUA royalties<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n10<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n20<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther royalties<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n13<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal royalty revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n70<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n64<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n134<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n113<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther commercial revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTEGSEDI and WAYLIVRA revenue, net<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n17<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Total commercial revenue<\/b><\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>103<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>72<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>179<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>132<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nResearch and development revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCollaborative agreement revenue<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n337<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n141<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n382<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n191<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nWAINUA joint development revenue<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Total research and development revenue<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>349<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>153<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>405<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>213<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl12\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Total revenue<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$452<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$225<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$584<\/b><\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n<b>$345<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\nCommercial revenue for the second quarter and first half of 2025 increased 43% and 36% respectively, compared to the same periods in 2024. This increase was driven by TRYNGOLZA product sales. Higher royalty revenue also contributed to the year over year increase.<\/p>\n<p>\nThe remainder of the Company\u2019s revenue came from programs under its R&amp;D collaborations, including a $280 million upfront payment for the global license of sapablursen to Ono Pharmaceutical Co., Ltd., reflecting the value that Ionis\u2019 pipeline and technology continues to generate.<\/p>\n<p>\n<b>Operating Expenses<\/b><\/p>\n<p>\nSG&amp;A expenses increased as anticipated for the second quarter and first half of 2025, compared to the same periods in 2024, primarily due to the launches of TRYNGOLZA and WAINUA, and advancing launch preparation activities for donidalorsen. This increase was partially offset by a decrease in R&amp;D expenses as several late-stage studies ended. Overall, this led to a modest year-over-year increase in total operating expenses.<\/p>\n<p>\n<b>Balance Sheet<\/b><\/p>\n<p>\nAs of June 30, 2025, Ionis\u2019 cash, cash equivalents and short-term investments were $2.3 billion, consistent with December 31, 2024. Ionis received $280 million from the global license of sapablursen in the second quarter of 2025. Ionis\u2019 working capital decreased over the same period primarily due to the reclassification of the Company\u2019s 0% convertible notes as a current liability.<\/p>\n<p>\n<b>Webcast and Other Updates<\/b><\/p>\n<p>\nManagement will host a conference call and webcast to discuss Ionis\u2019 second quarter 2025 results at 11:30 a.m. Eastern time on Wednesday, July 30, 2025. Interested parties may access the webcast <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fir.ionis.com%2Fevents%2Fevent-details%2Fsecond-quarter-2025-financial-results-webcast&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=c03a3f03f70d13201f77880df1358db1\" rel=\"nofollow\" shape=\"rect\">here<\/a>. A webcast replay will be available for a limited time at the same address. To access the Company\u2019s second quarter 2025 earnings slides click <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fir.ionis.com%2Fevents%2Fevent-details%2Fsecond-quarter-2025-financial-results-webcast&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=here&amp;index=2&amp;md5=4fc88a3f9b2c99b5b4fbcbca972fc24d\" rel=\"nofollow\" shape=\"rect\">here<\/a>.<\/p>\n<p>\nIonis will be initiating a quiet period starting July 31, 2025, as the Company plans to announce the topline results from both the CORE and CORE2 studies simultaneously. The quiet period will be lifted upon the data announcement, expected in September.<\/p>\n<p>\n<b>Ionis\u2019 Marketed Medicines<\/b><\/p>\n<p>\n<b>INDICATION for TRYNGOLZA\u2122 (olezarsen)<\/b><\/p>\n<p>\nTRYNGOLZA\u2122 (olezarsen) was approved by the U.S. Food and Drug Administration as an adjunct to diet to reduce triglycerides in adults with familial chylomicronemia syndrome (FCS).<\/p>\n<p>\n<b>IMPORTANT SAFETY INFORMATION<\/b><\/p>\n<p>\n<b>CONTRAINDICATIONS<\/b><\/p>\n<p>\nTRYNGOLZA is contraindicated in patients with a history of serious hypersensitivity to TRYNGOLZA or any of the excipients in TRYNGOLZA. Hypersensitivity reactions requiring medical treatment have occurred.<\/p>\n<p>\n<b>WARNINGS AND PRECAUTIONS<\/b><\/p>\n<p>\nHypersensitivity Reactions<\/p>\n<p>\nHypersensitivity reactions (including symptoms of bronchospasm, diffuse erythema, facial swelling, urticaria, chills and myalgias) have been reported in patients treated with TRYNGOLZA. Advise patients on the signs and symptoms of hypersensitivity reactions and instruct patients to promptly seek medical attention and discontinue use of TRYNGOLZA if hypersensitivity reactions occur.<\/p>\n<p>\n<b>ADVERSE REACTIONS<\/b><\/p>\n<p>\nThe most common adverse reactions (incidence &gt;5% of TRYNGOLZA-treated patients and &gt;3% higher frequency than placebo) were injection site reactions, decreased platelet count and arthralgia.<\/p>\n<p>\nPlease see full <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4326403-1%26h%3D3297647535%26u%3Dhttp%253A%252F%252Fwww.ionis.com%252Fmedicines%252FTRYNGOLZA%252FTRYNGOLZA-FPI.pdf%26a%3DPrescribing%2BInformation&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=Prescribing+Information&amp;index=3&amp;md5=5d631f866976844d1b531bf051e48fe9\" rel=\"nofollow\" shape=\"rect\">Prescribing Information<\/a> for TRYNGOLZA.<\/p>\n<p>\n<b>INDICATION for WAINUA\u2122 (eplontersen)<\/b><\/p>\n<p>\nWAINUA injection, for subcutaneous use, 45 mg is indicated for the treatment of the polyneuropathy of hereditary transthyretin-mediated amyloidosis in adults.<\/p>\n<p>\n<b>IMPORTANT SAFETY INFORMATION for WAINUA\u2122<\/b> <b>(eplontersen)<\/b><\/p>\n<p>\n<b>WARNINGS AND PRECAUTIONS<\/b><\/p>\n<p>\n<b>Reduced Serum Vitamin A Levels and Recommended Supplementation <\/b>WAINUA leads to a decrease in serum vitamin A levels. Supplement with recommended daily allowance of vitamin A. Refer patient to an ophthalmologist if ocular symptoms suggestive of vitamin A deficiency occur.<\/p>\n<p>\n<b>ADVERSE REACTIONS<\/b><\/p>\n<p>\nMost common adverse reactions (\u22659% in WAINUA-treated patients) were vitamin A decreased (15%) and vomiting (9%).<\/p>\n<p>\nPlease see link to <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4061851-1%26h%3D1860026812%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D4056576-1%2526h%253D1822730213%2526u%253Dhttps%25253A%25252F%25252Fden8dhaj6zs0e.cloudfront.net%25252F50fd68b9-106b-4550-b5d0-12b045f8b184%25252Fd9f47b27-50ff-4cc5-807e-3f69664872e2%25252Fd9f47b27-50ff-4cc5-807e-3f69664872e2_viewable_rendition__v.pdf%2526a%253DU.S.%252BFull%252BPrescribing%252BInformation%26a%3DU.S.%2BFull%2BPrescribing%2BInformation&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=U.S.+Full+Prescribing+Information&amp;index=4&amp;md5=2272ae44fc1b3239fe200ed8b9c9109d\" rel=\"nofollow\" shape=\"rect\">U.S. Full Prescribing Information<\/a> for WAINUA.<\/p>\n<p>\nFor more information about SPINRAZA and QALSODY, visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.spinraza.com%2F&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.spinraza.com%2F&amp;index=5&amp;md5=d4aa8e2e5ddc41a389be361782a30ad1\" rel=\"nofollow\" shape=\"rect\">https:\/\/www.spinraza.com\/<\/a> and <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4061851-1%26h%3D1197341316%26u%3Dhttps%253A%252F%252Fwww.qalsody.com%252F%26a%3Dhttps%253A%252F%252Fwww.qalsody.com%252F&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.qalsody.com%2F&amp;index=6&amp;md5=253d7928759d44bc8b8177dd27797b02\" rel=\"nofollow\" shape=\"rect\">https:\/\/www.qalsody.com\/<\/a>, respectively. QALSODY is approved under accelerated approval based on reduction in plasma neurofilament light chain (NfL) observed in patients treated with QALSODY. Continued approval may be contingent upon verification of clinical benefit in confirmatory trial(s).<\/p>\n<p>\n<b>About Ionis Pharmaceuticals, Inc.<\/b><\/p>\n<p>\nFor three decades, Ionis has invented medicines that bring better futures to people with serious diseases. Ionis currently has marketed medicines and a leading pipeline in neurology, cardiology, and other areas of high patient need. As the pioneer in RNA-targeted medicines, Ionis continues to drive innovation in RNA therapies in addition to advancing new approaches in gene editing. A deep understanding of disease biology and industry-leading technology propels our work, coupled with a passion and urgency to deliver life-changing advances for patients. To learn more about Ionis, visit <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ionis.com%2F&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=Ionis.com&amp;index=7&amp;md5=88243bf9856323b035499c739b30aa72\" rel=\"nofollow\" shape=\"rect\">Ionis.com<\/a> and follow us on <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4159341-1%26h%3D1027921894%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D4149819-1%2526h%253D213741665%2526u%253Dhttps%25253A%25252F%25252Ftwitter.com%25252Fionispharma%2526a%253DX%252B%2528Twitter%2529%26a%3DX%2B%2528Twitter%2529&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=X+%28Twitter%29&amp;index=8&amp;md5=fe6d1e01fbbc4a7bd41bfaedb0385bd0\" rel=\"nofollow\" shape=\"rect\">X (Twitter)<\/a><span class=\"bwuline\">,<\/span> <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D4159341-1%26h%3D2043613354%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D4149819-1%2526h%253D1660150971%2526u%253Dhttps%25253A%25252F%25252Fwww.linkedin.com%25252Fcompany%25252Fionis-pharmaceuticals%2526a%253DLinkedIn%26a%3DLinkedIn&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=LinkedIn&amp;index=9&amp;md5=5cdf35c19d3c2f190f9e9b6438d2cc3e\" rel=\"nofollow\" shape=\"rect\">LinkedIn<\/a> and <a target=\"_blank\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.instagram.com%2Fionis_pharma%2F&amp;esheet=54298952&amp;newsitemid=20250730350664&amp;lan=en-US&amp;anchor=Instagram&amp;index=10&amp;md5=443a042fbc2764d908964fa405304177\" rel=\"nofollow\" shape=\"rect\">Instagram<\/a>.<\/p>\n<p>\n<b>Ionis\u2019 Forward-looking Statement<\/b><\/p>\n<p>\nThis press release includes forward-looking statements regarding Ionis\u2019 business, financial guidance and the therapeutic and commercial potential of our commercial medicines, additional medicines in development and technologies. Any statement describing Ionis\u2019 goals, expectations, financial or other projections, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties including those inherent in the process of discovering, developing and commercializing medicines that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such medicines. Ionis\u2019 forward-looking statements also involve assumptions that, if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Ionis\u2019 forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Ionis. Except as required by law, we undertake no obligation to update any forward-looking statements for any reason. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Ionis&#8217; programs are described in additional detail in Ionis&#8217; annual report on Form 10-K for the year ended December 31, 2024, and most recent Form 10-Q, which are on file with the Securities and Exchange Commission. Copies of these and other documents are available from the Company.<\/p>\n<p>\nIn this press release, unless the context requires otherwise, \u201cIonis,\u201d \u201cCompany,\u201d \u201cwe,\u201d \u201cour\u201d and \u201cus\u201d all refer to Ionis Pharmaceuticals and its subsidiaries.<\/p>\n<p>\nIONIS<sup>\u00ae<\/sup> is a registered trademark of Ionis Pharmaceuticals, Inc. TRYNGOLZA<sup>\u00ae<\/sup> is a registered trademark of Ionis Pharmaceuticals, Inc. AKCEA<sup>TM<\/sup> is a trademark of Akcea Therapeutics, Inc. TEGSEDI<sup>TM<\/sup> is a trademark of Akcea Therapeutics, Inc. WAYLIVRA<sup>TM<\/sup> is a trademark of Akcea Therapeutics, Inc. SPINRAZA<sup>\u00ae<\/sup> and QALSODY<sup>\u00ae <\/sup>are registered trademarks of Biogen. WAINUA<sup>\u00ae <\/sup>is a registered trademark of the AstraZeneca group of companies.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" colspan=\"8\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>IONIS PHARMACEUTICALS, INC.<\/b><\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>\u00a0<\/b><\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>SELECTED FINANCIAL INFORMATION<\/b>\u00a0<\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>Condensed Consolidated Statements of Operations<\/b><\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>(In Millions, Except Per Share Data)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nThree months ended<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSix months ended<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n(unaudited)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRevenue:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCommercial revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nProduct sales, net<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$19<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$-<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$26<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$-<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRoyalty revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n70<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n64<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n134<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n113<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther commercial revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n14<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n8<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n19<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal commercial revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n103<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n72<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n179<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n132<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nResearch and development revenue:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCollaborative agreement revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n337<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n141<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n382<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n191<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nWAINUA joint development revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n12<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n23<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n22<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal research and development revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n349<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n153<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n405<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n213<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal revenue<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n452<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n225<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n584<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n345<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExpenses:<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCost of sales<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n4<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n6<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nResearch, development and patent<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n217<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n222<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n418<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n436<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nSelling, general and administrative<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n91<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n65<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n167<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n118<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal operating expenses<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n312<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n291<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n591<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n560<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome (loss) from operations<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n140<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(66)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(7)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(215)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther income (expense):<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nInterest expense related to the sale of future royalties<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(19)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(18)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(37)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(36)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth61 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther income, net<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n3<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n18<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n21<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n42<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome (loss) before income tax benefit (expense)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n124<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(66)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(23)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(209)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIncome tax benefit (expense)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nNet income (loss)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$124<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($66)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($23)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($209)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nBasic net income (loss) per share<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$0.78<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($0.45)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($0.15)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwdoublebottom bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($1.43)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nDiluted net income (loss) per share<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$0.70<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($0.45)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($0.15)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($1.43)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nShares used in computing basic net income (loss) per share<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n159<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n146<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n159<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n146<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nShares used in computing diluted net income (loss) per share<\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n182<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n146<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n159<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n146<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwpadl0\" colspan=\"8\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>IONIS PHARMACEUTICALS, INC.<\/b><\/p>\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>Reconciliation of GAAP to Non-GAAP Basis:<\/b><\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>Condensed Consolidated Operating Expenses, Income (Loss) From Operations, and Net Income (Loss)<\/b><\/p>\n<p class=\"bwcellpmargin bwalignc\">\n<b>(In Millions)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nThree months ended<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"3\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nSix months ended<\/p>\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"7\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n(unaudited)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>As reported research, development and patent expenses according to GAAP<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$217<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$222<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$418<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$436<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl3 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluding compensation expense related to equity awards<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(20)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(23)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(40)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(45)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Non-GAAP research, development and patent expenses<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$197<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$199<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$378<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$391<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin\">\n<b>As reported selling, general and administrative expenses according to GAAP<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$91<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$65<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$167<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$118<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl3 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluding compensation expense related to equity awards<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(10)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(8)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(19)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(17)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Non-GAAP selling, general and administrative expenses<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$81<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$57<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$148<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$101<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>As reported operating expenses according to GAAP<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$312<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$291<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$591<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$560<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl3 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluding compensation expense related to equity awards<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(31)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(59)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(62)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Non-GAAP operating expenses<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$282<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$260<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$532<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$498<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>As reported income (loss) from operations according to GAAP<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$140<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($66)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($7)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($215)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl3 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluding compensation expense related to equity awards<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(31)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(59)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(62)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Non-GAAP income (loss) from operations<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$170<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($35)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$52<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($153)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>As reported net income (loss) according to GAAP<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$124<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($66)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($23)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwpadr0 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($209)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl3 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nExcluding compensation expense related to equity awards and related tax effects<\/p>\n<\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(30)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(31)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(59)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwpadl0 bwsinglebottom bwpadr0 bwpadb3 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n(62)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth61\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Non-GAAP net income (loss)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$154<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($35)<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$36<\/p>\n<\/td>\n<td class=\"bwwidth1\" colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignb bwdoublebottom bwpadl0 bwpadr0 bwpadb4 bwwidth9\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n($147)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n<b><span class=\"bwuline\">Reconciliation of GAAP to Non-GAAP Basis<\/span><\/b><\/p>\n<p>\nAs illustrated in the Selected Financial Information in this press release, non-GAAP operating expenses, non-GAAP income (loss) from operations, and non-GAAP net income (loss) were adjusted from GAAP to exclude compensation expense related to equity awards and the related tax effects. Compensation expense related to equity awards are non-cash. These measures are provided as supplementary information and are not a substitute for financial measures calculated in accordance with GAAP. Ionis reports these non-GAAP results to better enable financial statement users to assess and compare its historical performance and project its future operating results and cash flows. Further, the presentation of Ionis\u2019 non-GAAP results is consistent with how Ionis\u2019 management internally evaluates the performance of its operations.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n<b>IONIS PHARMACEUTICALS, INC.<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\">\n<b>Condensed Consolidated Balance Sheets<\/b><\/p>\n<p class=\"bwalignc bwcellpmargin\">\n<b>(In Millions)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nJune 30,<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nDecember 31,<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2025<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16 bwalignc\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2024<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n(unaudited)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nAssets:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCash, cash equivalents and short-term investments<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,290<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,298<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nContracts receivable<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n53<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n92<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current assets<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n235<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n230<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nProperty, plant and equipment, net<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n112<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n94<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRight-of-use assets<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n164<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n162<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther assets<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n131<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n127<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal assets<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,985<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$3,003<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0 bwwidth63\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLiabilities and stockholders\u2019 equity:<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent portion of deferred contract revenue<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$76<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$79<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n0% convertible senior notes, net \u2013 current<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n630<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOther current liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n191<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n229<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n1.75% convertible senior notes, net<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n566<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n565<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n0% convertible senior notes, net<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n&#8211;<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n629<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLiability related to sale of future royalties, net<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n541<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n542<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLong-term lease liabilities<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n164<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n162<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLong-term obligations, less current portion<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n60<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n52<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLong-term deferred contract revenue<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n125<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwpadl0 bwpadr0 bwvertalignb bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n157<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal stockholders\u2019 equity<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n632<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n588<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwwidth63 bwpadl6\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal liabilities and stockholders\u2019 equity<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth15\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$2,985<\/p>\n<\/td>\n<td class=\"bwvertalignt bwpadl0 bwwidth3\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwdoublebottom bwpadl0 bwpadr0 bwvertalignb bwpadb4 bwwidth16\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignr bwcellpmargin\">\n$3,003<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n<b>Key 2025 and 2026 Value Driving Events<\/b><sup>(1)<\/sup><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"4\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>New Product Launches<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Program<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Indication<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2026<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nDonidalorsen (U.S.)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nHAE<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTRYNGOLZA (U.S.)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nFCS<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nWAINZUA (EU)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nATTRv-PN<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nOlezarsen (U.S.)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nsHTG<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nZilganersen (U.S.)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth35\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nAlexander disease<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Regulatory Actions<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Program<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Indication<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Regulatory Action<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2026<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nDonidalorsen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nHAE<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nEU approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nTRYNGOLZA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nFCS<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nEU approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nOlezarsen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nsHTG<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. submission<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nZilganersen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nAlexander disease<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. submission<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nNusinersen<\/p>\n<p class=\"bwcellpmargin\">\n(higher dose)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nSMA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. and EU submissions<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nWAINZUA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nATTRv-PN<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nEU approval decision<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nPelacarsen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLp(a)- CVD<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nU.S. submission<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nBepirovirsen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nHBV<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRegulatory submission(s)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nRegulatory decision(s)<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0\" colspan=\"5\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Key Phase 3 Clinical Events<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Program<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Indication<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n<b>Event<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2025<\/b><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwpadr0 bwvertalignb bwpadb3 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n<b>2026<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nOlezarsen<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nsHTG<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCORE, CORE2 data<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nEssence data<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nZilganersen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nAlexander disease<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nPhase 3 data<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nION582<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"2\">\n<p class=\"bwcellpmargin\">\nAngelman syndrome<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nPhase 3 study start<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAchieved<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nPhase 3 enrollment completion<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nPelacarsen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLp(a)-CVD<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nLp(a) HORIZON data<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nBepirovirsen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nHBV<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nB-Well data<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nEplontersen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nATTR-CM<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nCARDIO-TTRansform data<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nSefaxersen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIgAN<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nIMAGINATION data<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth38\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nUlefnersen<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth13\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nFUS-ALS<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth22\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\nFUSION data<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwwidth17\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignt bwsinglebottom bwrightsingle bwpadl0 bwalignc bwwidth10\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u2022<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\n(1)<\/p>\n<\/td>\n<td colspan=\"1\" rowspan=\"1\"><\/td>\n<td class=\"bwvertalignt bwpadl0 bwalignl\" colspan=\"1\" rowspan=\"1\">\n<p class=\"bwalignl bwcellpmargin\">\nTiming expectations based on current assumptions and subject to change.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nIndicates that the milestone is anticipated in the respective year.\u00a0<\/li>\n<\/ul>\n<p>\n\u00a0<\/p>\n<p> <b>Contacts<\/b> <\/p>\n<p>\n<b>Ionis Investor Contact:<\/b><br \/>D. Wade Walke, Ph.D.<br \/>\n<br \/><a target=\"_blank\" href=\"&#x6d;&#x61;&#x69;&#108;&#116;o:&#x49;&#x52;&#x40;&#x69;&#111;&#110;is&#x2e;&#x63;&#x6f;&#109;\" rel=\"nofollow\" shape=\"rect\">&#x49;&#x52;&#x40;&#x69;&#x6f;&#x6e;&#x69;&#x73;&#x2e;&#x63;&#x6f;&#x6d;<\/a><br \/>760-603-233<\/p>\n<p>\n<b>Ionis Media Contact:<\/b><br \/>Hayley Soffer<br \/>\n<br \/><a target=\"_blank\" href=\"&#109;&#x61;&#105;&#x6c;t&#x6f;:&#109;&#x65;&#100;&#x69;&#97;&#x40;i&#x6f;n&#105;&#x73;&#46;&#x63;o&#x6d;\" rel=\"nofollow\" shape=\"rect\">&#109;&#x65;&#100;&#x69;&#97;&#x40;&#105;&#x6f;n&#x69;s&#x2e;c&#x6f;m<\/a><br \/>760-603-4679<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; TRYNGOLZATM delivers $19 million in net product sales in the second quarter 2025 &#8211; &#8211; Donidalorsen approval in hereditary angioedema (HAE) anticipated next month; Ionis\u2019 second independent launch &#8211; &#8211; Phase 3 data from the pivotal CORE and CORE2 studies in severe hypertriglyceridemia (sHTG) expected in September 2025 &#8211; &#8211; Increasing 2025 financial guidance &#8230; <span class=\"more\"><a class=\"more-link\" href=\"https:\/\/pharma-trend.com\/en\/ionis-reports-second-quarter-2025-financial-results-and-highlights-progress-on-key-programs\/\">[Read more&#8230;]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-61661","6":"format-standard","7":"category-industry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ionis reports second quarter 2025 financial results and highlights progress on key programs - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/ionis-reports-second-quarter-2025-financial-results-and-highlights-progress-on-key-programs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ionis reports second quarter 2025 financial results and highlights progress on key programs - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"&#8211; TRYNGOLZATM delivers $19 million in net product sales in the second quarter 2025 &#8211; &#8211; Donidalorsen approval in hereditary angioedema (HAE) anticipated next month; Ionis\u2019 second independent launch &#8211; &#8211; Phase 3 data from the pivotal CORE and CORE2 studies in severe hypertriglyceridemia (sHTG) expected in September 2025 &#8211; &#8211; Increasing 2025 financial guidance ... 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