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

requires otherwise, "Isis," "Company," "we," "our," and "us" refers to Isis Pharmaceuticals and its subsidiaries.

Isis Pharmaceuticals is a registered trademark of Isis Pharmaceuticals, Inc. Ibis Biosciences and Ibis T5000 are trademarks of Ibis Biosciences, Inc. Regulus Therapeutics is a trademark of Regulus Therapeutics LLC.

ISIS PHARMACEUTICALS, INC.

SELECTED FINANCIAL INFORMATION

Condensed Consolidated Statements of Operations

(In Thousands, Except Per Share Data)

Three months ended, Six months ended,

June 30, June 30,

2008 2007 2008 2007

Revenue: (unaudited) (unaudited)

Research and development revenue

under collaborative agreements $26,814 $3,482 $47,499 $5,484

Licensing and royalty revenue 6,147 331 6,815 779

Total revenue 32,961 3,813 54,314 6,263

Expenses:

Research and development 31,195 20,384 57,642 40,333

Selling, general and

administrative 4,899 3,089 8,635 6,491

Total operating expenses 36,094 23,473 66,277 46,824

Loss from operations (3,133) (19,660) (11,963) (40,561)

Other income (expense):

Investment income 560 3,053 5,515 6,454

Interest expense (1,391) (2,016) (2,788) (4,644)

Gain on investments, net - 1,989 - 3,510

Loss on early retirement of debt - (1,993) - (3,212)

Loss attributed to noncontrolling

interest in Symphony GenIsis, Inc. - 7,60
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SOURCE Isis Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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