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Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2019

Stockholders' Equity [Abstract]

Stock Option Activity

The following table summarizes the stock option activity under our stock plans for the year ended December 31, 2019 (in thousands, except per share and contractual life data):

		Number of Shares				Weighted Average Exercise Price Per Share				Average Remaining Contractual Term (Years)				Aggregate Intrinsic Value
Outstanding at December 31, 2018			11,311			$	47.85
Granted			2,543			$	56.19
Exercised			(2,617	)		$	40.48
Cancelled/forfeited/expired			(236	)		$	50.11
Outstanding at December 31, 2019			11,001			$	51.48				4.41			$	104,029
Exercisable at December 31, 2019			6,004			$	50.95				3.34			$	59,780

RSU Activity

The following table summarizes the RSU activity for the year ended December 31, 2019 (in thousands, except per share data):

		Number of Shares				Weighted Average Grant Date Fair Value Per Share
Non-vested at December 31, 2018			1,246			$	50.20
Granted			1,114			$	60.23
Vested			(422	)		$	51.36
Cancelled/forfeited			(72	)		$	53.39
Non-vested at December 31, 2019			1,866			$	55.80

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense for the years ended December 31, 2019, 2018 and 2017 (in thousands), which was allocated as follows and includes $37.1 million, $44.3 million and $17.5 million of stock-based compensation expense for Akcea employees in 2019, 2018 and 2017, respectively:

		Year Ended December 31,
		2019				2018				2017
Cost of products sold		$	438			$	160			$	—
Research, development and patent			95,348				76,557				64,521
Selling, general and administrative			50,788				54,595				21,454
Total		$	146,574			$	131,312			$	85,975

Stockholders' Equity [Abstract]

Weighted-Average Assumptions for Stock Options

Ionis Employee Stock Options:

		December 31,
		2019				2018				2017
Risk-free interest rate			2.3	%			2.4	%			1.8	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			60.3	%			63.0	%			65.9	%
Expected life		4.8 years				4.6 years				4.5 years

Ionis Board of Director Stock Options:

		December 31,
		2019				2018				2017
Risk-free interest rate			1.9	%			2.8	%			2.2	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			60.7	%			61.5	%			61.2	%
Expected life		6.6 years				6.6 years				6.6 years

Weighted-Average Assumptions for ESPP

Ionis ESPP:

		December 31,
		2019				2018				2017
Risk-free interest rate			2.4	%			1.8	%			0.8	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			45.6	%			47.3	%			59.9	%
Expected life		6 months				6 months				6 months

Akcea [Member]

Stockholders' Equity [Abstract]

Weighted-Average Assumptions for Stock Options

Akcea Employee Stock Options:

		December 31,
		2019				2018				2017
Risk-free interest rate			2.2	%			2.8	%			1.9	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			75.4	%			77.1	%			79.5	%
Expected life		6.09 years				6.08 years				6.06 years

Akcea Board of Director Stock Options:

		December 31,
		2019				2018				2017
Risk-free interest rate			1.8	%			2.9	%			1.9	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			73.8	%			78.2	%			79.4	%
Expected life		6.25 years				6.42 years				6.25 years

Weighted-Average Assumptions for ESPP

Akcea ESPP:

		December 31,
		2019				2018				2017
Risk-free interest rate			2.4	%			1.9	%			1.1	%
Dividend yield			0.0	%			0.0	%			0.0	%
Volatility			60.0	%			64.2	%			73.3	%
Expected life		6 months				6 months				6 months

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