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Segment Information | 9 Months Ended
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Sep. 30, 2020
Segment Information [Abstract] |
Segment Information | 7. Segment Information Through September 30, 2020, we had two reportable segments, Ionis Core and Akcea Therapeutics. At September 30, 2020 we owned approximately 76 percent of Akcea. In October 2020, we acquired the remaining common stock of Akcea which we did not own. Segment income (loss) from operations includes revenue less operating expenses attributable to each segment. In our Ionis Core segment we are exploiting our antisense technology to generate a broad pipeline of first-in-class and/or best-in-class medicines. Our Ionis Core segment generates revenue from a multifaceted partnering strategy. Akcea is focused on developing and commercializing medicines to treat patients with serious and rare diseases. Akcea generates revenue from TEGSEDI and WAYLIVRA product sales and from its collaborations. The following tables show our segment revenue and income (loss) from operations for the three and nine months ended September 30, 2020 and 2019 (in thousands), respectively.
Three Months Ended September 30, 2020 |  | Ionis Core |  |  | Akcea Therapeutics |  |  | Elimination of Intercompany Activity |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Commercial revenue: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA royalties |  | $ | 74,171 |  |  | $ | — |  |  | $ | — |  |  | $ | 74,171 |
Product sales, net |  |  | — |  |  |  | 19,040 |  |  |  | — |  |  |  | 19,040 |
Licensing and other royalty revenue |  |  | 2,975 |  |  |  | — |  |  |  | (846 | ) |  |  | 2,129 |
Total commercial revenue |  |  | 77,146 |  |  |  | 19,040 |  |  |  | (846 | ) |  |  | 95,340 |
R&D revenue under collaborative agreements |  |  | 64,309 |  |  |  | 430 |  |  |  | — |  |  |  | 64,739 |
Total segment revenue |  | $ | 141,455 |  |  | $ | 19,470 |  |  | $ | (846 | ) |  | $ | 160,079 |
Total operating expenses |  | $ | 129,657 |  |  | $ | 69,283 |  |  | $ | (2,324 | ) |  | $ | 196,616 |
Loss from operations |  | $ | 11,798 |  |  | $ | (49,813 | ) |  | $ | 1,478 |  |  | $ | (36,537 | )
Three Months Ended September 30, 2019 |  | Ionis Core |  |  | Akcea Therapeutics |  |  | Elimination of Intercompany Activity |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Commercial revenue: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA royalties |  | $ | 81,672 |  |  | $ | — |  |  | $ | — |  |  | $ | 81,672 |
Product sales, net |  |  | — |  |  |  | 11,945 |  |  |  | — |  |  |  | 11,945 |
Licensing and other royalty revenue |  |  | 1,946 |  |  |  | 136 |  |  |  | — |  |  |  | 2,082 |
Total commercial revenue |  |  | 83,618 |  |  |  | 12,081 |  |  |  | — |  |  |  | 95,699 |
R&D revenue under collaborative agreements |  |  | 69,165 |  |  |  | 8,543 |  |  |  | (5,515 | ) |  |  | 72,193 |
Total segment revenue |  | $ | 152,783 |  |  | $ | 20,624 |  |  | $ | (5,515 | ) |  | $ | 167,892 |
Total operating expenses |  | $ | 119,147 |  |  | $ | 53,215 |  |  | $ | (6,993 | ) |  | $ | 165,369 |
Income (loss) from operations |  | $ | 33,636 |  |  | $ | (32,591 | ) |  | $ | 1,478 |  |  | $ | 2,523 |
Nine Months Ended September 30, 2020 |  | Ionis Core |  |  | Akcea Therapeutics |  |  | Elimination of Intercompany Activity |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Commercial revenue: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA royalties |  | $ | 211,925 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,925 |
Product sales, net |  |  | — |  |  |  | 50,562 |  |  |  | — |  |  |  | 50,562 |
Licensing and other royalty revenue |  |  | 8,809 |  |  |  | — |  |  |  | (2,261 | ) |  |  | 6,548 |
Total commercial revenue |  |  | 220,734 |  |  |  | 50,562 |  |  |  | (2,261 | ) |  |  | 269,035 |
R&D revenue under collaborative agreements |  |  | 167,870 |  |  |  | 7,358 |  |  |  | (5,280 | ) |  |  | 169,948 |
Total segment revenue |  | $ | 388,604 |  |  | $ | 57,920 |  |  | $ | (7,541 | ) |  | $ | 438,983 |
Total operating expenses |  | $ | 396,259 |  |  | $ | 204,084 |  |  | $ | (11,944 | ) |  | $ | 588,399 |
Loss from operations |  | $ | (7,655 | ) |  | $ | (146,164 | ) |  | $ | 4,403 |  |  | $ | (149,416 | )
Nine Months Ended September 30, 2019 |  | Ionis Core |  |  | Akcea Therapeutics |  |  | Elimination of Intercompany Activity |  |  | Total |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Commercial revenue: |  |  |  |  |  |  |  |  |  |  |  |
SPINRAZA royalties |  | $ | 211,884 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,884 |
Product sales, net |  |  | — |  |  |  | 28,563 |  |  |  | — |  |  |  | 28,563 |
Licensing and other royalty revenue |  |  | 8,466 |  |  |  | 6,172 |  |  |  | (3,000 | ) |  |  | 11,638 |
Total commercial revenue |  |  | 220,350 |  |  |  | 34,735 |  |  |  | (3,000 | ) |  |  | 252,085 |
R&D revenue under collaborative agreements |  |  | 294,512 |  |  |  | 176,328 |  |  |  | (94,007 | ) |  |  | 376,833 |
Total segment revenue |  | $ | 514,862 |  |  | $ | 211,063 |  |  | $ | (97,007 | ) |  | $ | 628,918 |
Total operating expenses |  | $ | 355,437 |  |  | $ | 256,152 |  |  | $ | (87,900 | ) |  | $ | 523,689 |
Income (loss) from operations |  | $ | 159,425 |  |  | $ | (45,089 | ) |  | $ | (9,107 | ) |  | $ | 105,229 |
The following table shows our total assets by segment at September 30, 2020 and December 31, 2019 (in thousands), respectively.
Total Assets |  | Ionis Core |  |  | Akcea Therapeutics |  |  | Elimination of Intercompany Activity |  |  | Total |
September 30, 2020 |  | $ | 3,436,990 |  |  | $ | 507,977 |  |  | $ | (849,266 | ) |  | $ | 3,095,701 |
December 31, 2019 |  | $ | 3,478,081 |  |  | $ | 599,250 |  |  | $ | (844,219 | ) |  | $ | 3,233,112 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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