IONIS PHARMACEUTICALS INC — Director's Dealing 2018

May 11, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: IONIS PHARMACEUTICALS INC (IONS)
CIK: 0000874015
Period of Report: 2018-05-11

Reporting Person: BENNETT C FRANK (SVP, Antisense Research)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-11	Common Stock	M	12500	$7.25	Acquired	31614	Direct
2018-05-11	Common Stock	S	12500	$45.00	Disposed	19114	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-11	Employee Stock Option (right to buy)	$7.25	M	12500	Acquired	2019-01-02	Common Stock (12500)	Direct

Footnotes

F1: Acquired as a result of exercising a stock option pursuant to Rule 10b5-1 Trading Plan. The purchase and sale reported on this Form 4 was effective pursuant to Rule 10b5-1 Trading Plan adopted by the reporting person on 12/8/2017.