Ionis Pharmaceuticals Inc

Despite the long-term uptrend, the stock remains in a Stage 4 decline with a bearish medium-term bias. Price trades below declining EMAs, forming lower highs and lows, and remains extended oversold without structural repair. Execution should focus on trimming exposure into rallies toward the 9EMA/21EMA resistance region upon rejection.

• ↑Q1 total revenue $246M (+87% YoY) driven by Tringolza and Donzera
• ↑Tringolza Q1 sales $27M; 2026 revenue projected at $100–110M
• ↓Projected non-GAAP operating loss of $300–325M in 2026