FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Devers Shannon L.
2. Date of Event Requiring Statement (Month/Day/Year)
09/29/2024		 3. Issuer Name and Ticker or Trading Symbol
IONIS PHARMACEUTICALS INC [IONS]
(Last)
(First)
(Middle)
2855 GAZELLE COURT		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, Chief Human Resourses Ofc
5. If Amendment, Date Original Filed (Month/Day/Year)
(Street)

CARLSBAD, CA 92010		 6. Individual or Joint/Group Filing (Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4) 		2. Amount of Securities Beneficially Owned
(Instr. 4) 		3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5) 		4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 7,909
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4) 		2. Date Exercisable and Expiration Date
(Month/Day/Year) 		3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4) 		4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5) 		6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Non-Qualified Stock Option (right to buy) 01/03/2023 01/02/2032 Common Stock 14,368 $ 32.6 D  
Non-Qualified Stock Option (right to buy) 01/03/2024 01/02/2033 Common Stock 15,317 $ 37.58 D  
Non-Qualified Stock Option (right to buy) 04/05/2021 04/04/2027 Common Stock 6,000 $ 48.51 D  
Non-Qualified Stock Option (right to buy) 01/02/2019 01/01/2025 Common Stock 16,042 $ 49.25 D  
Non-Qualified Stock Option (right to buy) 01/02/2020 01/01/2034 Common Stock 18,526 $ 52.87 D  
Non-Qualified Stock Option (right to buy) 01/02/2020 01/01/2026 Common Stock 16,777 $ 53.77 D  
Non-Qualified Stock Option (right to buy) 01/04/2022 01/03/2028 Common Stock 28,516 $ 56.78 D  
Non-Qualified Stock Option (right to buy) 01/02/2021 01/01/2027 Common Stock 17,125 $ 60.89 D  
Restricted Stock Unit (1)   (2)   (2) Common Stock 31,241 $ 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Devers Shannon L.
2855 GAZELLE COURT
CARLSBAD, CA 92010		       EVP, Chief Human Resourses Ofc  

Signatures

By: Patrick R. O'Neil, attorney-in-fact For: Shannon L. Devers 10/01/2024
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Each restricted stock unit represents a contingent right to receive one share of Ionis common stock, or its equivalent cash value.
(2) Grants to reporting person of restricted stock units under the Ionis Pharmaceuticals, Inc. Amended and Restated 2011 Equity Incentive Plan on January 15, 2021, January 15, 2022, January 15, 2023 and January 15, 2024. The restricted stock units vest in four equal annual installments. Upon vesting, the restricted stock units will be paid out in whole shares of Ionis common stock or cash as may be determined by the Company.

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