Name: Quick Ratio

Definition: The quick ratio is like an emergency response measure: can the company pay off short-term debts without selling any inventory? It only counts cash, short-term investments, and receivables — assets that can quickly be turned into cash. A healthy quick ratio shows strong liquidity. A very low quick ratio means the company depends on selling inventory to meet short-term obligations — which can be risky if sales unexpectedly slow down.

Interpretation:
• In '2021', IONS's quick ratio was 9.05, providing a stringent test of short-term liquidity. Industry average for Biotechnology: Pharmaceutical Preparations in '2021' stood at 4.05.
• In '2022', IONS's quick ratio was 6.46, providing a stringent test of short-term liquidity. The decline from '2021' may indicate some operational or financial challenges. Industry average for Biotechnology: Pharmaceutical Preparations in '2022' stood at 3.48. Industry average declined by 0.57 from previous year.
• In '2023', IONS's quick ratio was 5.42, providing a stringent test of short-term liquidity. The decline from '2022' may indicate some operational or financial challenges. Industry average for Biotechnology: Pharmaceutical Preparations in '2023' stood at 3.21. Industry average declined by 0.26 from previous year.
• In '2024', IONS's quick ratio was 7.73, providing a stringent test of short-term liquidity. The increase since '2023' reflects strengthening financial performance. Industry average for Biotechnology: Pharmaceutical Preparations in '2024' stood at 2.99. Industry average declined by 0.22 from previous year.
Overall, IONS's quick ratio has been volatile but showed a downward trend over the past 4 years.

Formula: Quick Ratio = (Current Assets - Inventory) / Current Liabilities

Good Range: Normally between 0.8 and 1.5.