<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>144</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001206369</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <issuerInfo>
      <issuerCik>0000874015</issuerCik>
      <issuerName>IONIS PHARMACEUTICALS INC</issuerName>
      <secFileNumber>000-19125</secFileNumber>
      <issuerAddress>
        <com:street1>2855 GAZELLE COURT</com:street1>
        <com:city>CARLSBAD</com:city>
        <com:stateOrCountry>CA</com:stateOrCountry>
        <com:zipCode>92010</com:zipCode>
      </issuerAddress>
      <issuerContactPhone>7609319200</issuerContactPhone>
      <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>KLEIN JOSEPH III</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
      <relationshipsToIssuer>
        <relationshipToIssuer>Director</relationshipToIssuer>
      </relationshipsToIssuer>
    </issuerInfo>
    <securitiesInformation>
      <securitiesClassTitle>Common</securitiesClassTitle>
      <brokerOrMarketmakerDetails>
        <name>UBS Financial Services, Inc.</name>
        <address>
          <com:street1>11 Madison Avenue</com:street1>
          <com:street2>4th Floor</com:street2>
          <com:city>New York</com:city>
          <com:stateOrCountry>NY</com:stateOrCountry>
          <com:zipCode>10010</com:zipCode>
        </address>
      </brokerOrMarketmakerDetails>
      <noOfUnitsSold>28000</noOfUnitsSold>
      <aggregateMarketValue>1680000.00</aggregateMarketValue>
      <noOfUnitsOutstanding>159391229</noOfUnitsOutstanding>
      <approxSaleDate>09/03/2024</approxSaleDate>
      <securitiesExchangeName>NASDAQ</securitiesExchangeName>
    </securitiesInformation>
    <securitiesToBeSold>
      <securitiesClassTitle>COMMON</securitiesClassTitle>
      <acquiredDate>09/03/2024</acquiredDate>
      <natureOfAcquisitionTransaction>Exercise of Stock Option</natureOfAcquisitionTransaction>
      <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
      <isGiftTransaction>N</isGiftTransaction>
      <amountOfSecuritiesAcquired>28000</amountOfSecuritiesAcquired>
      <paymentDate>09/03/2024</paymentDate>
      <natureOfPayment>Cash</natureOfPayment>
    </securitiesToBeSold>
    <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
    <remarks>9,334 shares represented in this filing are being sold under the 2011 Lucy S. Klein Trust, 9,333 shares are being sold under the 2011 Noah Z. Klein Trust and 9,333 shares are being sold under the 2011 Alexander J. Klein Trust.</remarks>
    <noticeSignature>
      <noticeDate>09/03/2025</noticeDate>
      <planAdoptionDates>
        <planAdoptionDate>01/03/2024</planAdoptionDate>
      </planAdoptionDates>
      <signature>/s/ UBS Financial Services Inc, as attorney-in-fact for Judith S Sandler</signature>
    </noticeSignature>
  </formData>
</edgarSubmission>
