- Isis ends the second quarter with more than $535 million in cash
- Conference Call Webcast Thursday, August 7, 8:30 a.m. EDT at
CARLSBAD, Calif., Aug. 7 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) today announced its financial results for the second quarter ended June 30, 2008. The Company ended the quarter in the strongest financial position in its history with more than $535 million of cash and $873,000 of pro forma operating income in the second quarter.
"Over the last year we have added significant cash through our recent collaborations. More importantly, as our corporate alliances continue to be successful, we will continue to add cash to our balance sheet and revenue to our P&L. We remain on track to end 2008 with more than $450 million in cash and to meet our pro forma net operating loss guidance of less than $15 million for the year," commented B. Lynne Parshall, COO and CFO of Isis.
"Our strong financial position is a result of the successful execution
of our business strategy, enabled by the efficiency of our antisense
technology. The transactions we have completed balance both our short-term
and long-term objectives. In addition, the maturation of our satellite
companies is providing exactly the types of financial benefits for which
they were created," continued Ms. Parshall. "Because of our partnering
successes, we have reported our second profitable quarter in the past year.
While we are not yet at the point of sustainable profitability and our
quarter-to-quarter performance will continue to fluctuate based on one-time
events such as the Teva-ATL license fee, our si
|SOURCE Isis Pharmaceuticals, Inc.|
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