Ionis announces leadership change as chief development officer plans retirement

CARLSBAD, Calif. - Ionis Pharmaceuticals, Inc. (NASDAQ:IONS), a $5.76 billion market cap biotechnology company, announced Thursday that Executive Vice President and Chief Development Officer Richard Geary will retire in January 2026 after 30 years with the company. Holly Kordasiewicz, currently Senior Vice President of Neurology, will succeed him in the role. According to InvestingPro data, the company maintains strong liquidity with current assets significantly exceeding short-term obligations.

During his tenure, Geary led numerous development programs resulting in six regulatory approvals, including TRYNGOLZA, the company’s first independent commercial medicine. With annual revenue of $717.25 million, the company operates with moderate debt levels. He will remain with Ionis as a strategic consultant throughout 2026 to ensure a smooth transition.

Kordasiewicz, who joined Ionis in 2011, brings 20 years of research and development experience to the position. She currently oversees the company’s neurology program, which includes medicines for Alexander disease, Angelman syndrome, Alzheimer’s disease, and other neurological conditions. She was also involved in the development of QALSODY for a genetic form of amyotrophic lateral sclerosis and IONIS-MAPTR, an Alzheimer’s disease medicine in Phase 2 development.

Ionis CEO Brett Monia cited Kordasiewicz’s "broad experience across research and development, strong operational and management skills, and deep neurology expertise" as qualifications for guiding the company’s portfolio, which includes eight wholly owned neurology medicines in clinical development.

Ionis Pharmaceuticals specializes in RNA-targeted medicines and has six marketed products. The company, founded three decades ago, focuses on treatments in neurology, cardiology, and other areas of high patient need.

The information in this article is based on a press release statement from Ionis Pharmaceuticals. InvestingPro analysis reveals 7 analysts have revised their earnings upward for the upcoming period, with price targets ranging from $37 to $83 per share. Get access to detailed financial analysis and 8 additional ProTips for IONS through the comprehensive Pro Research Report, available exclusively to subscribers.

In other recent news, Ionis Pharmaceuticals has made significant strides in its research and development efforts. The company announced the initiation of a Phase 3 trial for ION582, aimed at treating Angelman syndrome, enrolling about 200 participants. In addition, Ionis reported positive results from the Essence study for its drug olezarsen, showing a significant reduction in triglycerides for patients with moderate hypertriglyceridemia. This study met its primary endpoint, achieving reductions of 61% and 58% at different doses, and the drug demonstrated a favorable safety profile.

Furthermore, Ionis held its annual stockholders meeting, where all board nominees were elected, and stockholders approved an increase in authorized shares and ratified the appointment of Ernst & Young as auditors. Analyst firm Stifel maintained a Hold rating on Ionis, while H.C. Wainwright raised its price target to $50, reflecting confidence in the company’s drug Tryngolza for familial chylomicronemia syndrome. The successful launch of Tryngolza has been attributed to pent-up demand and smooth transitions from an open-label study, suggesting strong revenue prospects. Ionis also continues to advance its pipeline with promising developments in its cardiovascular and neurological programs.

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