Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 15, 2022, Frederick Muto, a member of the Board of Directors ("Board") of Ionis Pharmaceuticals, Inc. (the "Company"), notified the Company that he is retiring from the Company's Board effective July 15, 2022. Prior to his retirement, Mr. Muto served on the Board's Audit Committee, Compensation Committee, Nominating, Governance and Review Committee and Finance Committee.

Mr. Muto has been a valued member of the Company's Board for over 21 years, providing exemplary service and many important contributions to the Company during his long tenure on the Board. The Company thanks Mr. Muto for his advice and leadership as a member of the Company's Board and wishes Mr. Muto well in his retirement.

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