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Isis Reports Financial Results and Highlights for Second Quarter of 2008
Date:8/7/2008

- Isis ends the second quarter with more than $535 million in cash

- Conference Call Webcast Thursday, August 7, 8:30 a.m. EDT at

http://www.isispharm.com

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
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SOURCE Isis Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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