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Organization and Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2022
Organization and Significant Accounting Policies [Abstract] |
Basic Net Loss per Share | We calculated our basic net loss per share for the year ended December 31, 2020 as follows (in thousands, except per share amounts):
Year Ended December 31, 2020 |  | Weighted Average Shares Owned in Akcea |  |  | Akcea’s Net Loss Per Share |  |  | Basic Net Loss Per Share Calculation |
Akcea’s net loss in the pre-merger period attributable to our ownership |  |  | 77,095 |  |  | $ | (1.45 | ) |  | $ | (111,775 | )
Akcea’s net loss in the post-merger period attributable to our ownership |  |  |  |  |  |  |  |  |  |  | (85,987 | )
Akcea’s total net loss attributable to our ownership |  |  |  |  |  |  |  |  |  | $ | (197,762 | )
Ionis’ stand-alone net loss |  |  |  |  |  |  |  |  |  |  | (246,702 | )
Net loss available to Ionis common stockholders |  |  |  |  |  |  |  |  |  | $ | (444,464 | )
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  | 139,612 |
Basic net loss per share |  |  |  |  |  |  |  |  |  | $ | (3.18 | )
Changes in Accumulated Other Comprehensive Loss | Accumulated other comprehensive loss is comprised of unrealized gains and losses on investments, net of taxes and currency translation adjustments. The following table summarizes changes in accumulated other comprehensive loss for the years ended December 31, 2022, 2021 and 2020 (in thousands):
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |  |  | 2020 |
Beginning balance accumulated other comprehensive loss |  | $ | (32,668 | ) |  | $ | (21,071 | ) |  | $ | (25,290 | )
Unrealized gains (losses) on securities, net of tax (1) |  |  | (24,395 | ) |  |  | (11,486 | ) |  |  | 3,729 |
Currency translation adjustment |  |  | (417 | ) |  |  | (111 | ) |  |  | 617 |
Adjustments to other comprehensive loss from purchase of noncontrolling interest of Akcea Therapeutics, Inc. |  |  | — |  |  |  | — |  |  |  | (127 | )
Net other comprehensive income (losses) for the year |  |  | (24,812 | ) |  |  | (11,597 | ) |  |  | 4,219 |
Ending balance accumulated other comprehensive loss |  | $ | (57,480 | ) |  | $ | (32,668 | ) |  | $ | (21,071 | )
________________
(1) | We did not have tax expense included in our other comprehensive loss for the years ended December 31, 2022, 2021 and 2020.
Inventory | Our inventory consisted of the following (in thousands):
|  | December 31, |
|  | 2022 |  |  | 2021 |
Raw materials: |  |  |  |  |  |
Raw materials- clinical |  | $ | 17,061 |  |  | $ | 14,507 |
Raw materials- commercial |  |  | 2,699 |  |  |  | 4,139 |
Total raw materials |  |  | 19,760 |  |  |  | 18,646 |
Work in process |  |  | 2,109 |  |  |  | 5,770 |
Finished goods |  |  | 164 |  |  |  | 390 |
Total inventory |  | $ | 22,033 |  |  | $ | 24,806 |
Property, Plant and Equipment | We carry our property, plant and equipment at cost and depreciate it on the straight-line method over its estimated useful life, which consists of the following (in thousands):
|  | Estimated Useful |  |  | December 31, |
|  | Lives (in years) |  |  | 2022 |  |  | 2021 |
Computer software, laboratory, manufacturing and other equipment |  | 3 to 10 |  |  | $ | 74,351 |  |  | $ | 72,802 |
Building, building improvements and building systems |  | 15 to 40 |  |  |  | 41,158 |  |  |  | 144,046 |
Land improvements |  |  | 20 |  |  |  | - |  |  |  | 10,077 |
Leasehold improvements |  | 5 to 15 |  |  |  | 28,357 |  |  |  | 20,144 |
Furniture and fixtures |  | 5 to 10 |  |  |  | 9,575 |  |  |  | 10,591 |
|  |  |  |  |  |  | 153,441 |  |  |  | 257,660 |
Less accumulated depreciation |  |  |  |  |  |  | (87,716 | ) |  |  | (102,653 | )
|  |  |  |  |  |  | 65,725 |  |  |  | 155,007 |
Land |  |  |  |  |  |  | 8,569 |  |  |  | 23,062 |
Total |  |  |  |  |  | $ | 74,294 |  |  | $ | 178,069 |
Accrued Liabilities | Our accrued liabilities consisted of the following (in thousands):
|  | December 31, |
|  | 2022 |  |  | 2021 |
Clinical expenses |  | $ | 116,460 |  |  | $ | 65,730 |
In-licensing expenses |  |  | 7,945 |  |  |  | 8,044 |
Commercial expenses |  |  | 3,498 |  |  |  | 2,471 |
Other miscellaneous expenses |  |  | 12,198 |  |  |  | 12,315 |
Total accrued liabilities |  | $ | 140,101 |  |  | $ | 88,560 |

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