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Isis Reports Financial Results and Highlights for First Quarter of 2008
Date:5/12/2008

3,736 3,402

Total operating expenses 30,185 23,351

Loss from operations (8,831) (20,901)

Other income (expense):

Investment income 4,956 3,401

Interest expense (1,398) (2,628)

Gain on investments - 1,521

Loss on early retirement of debt - (1,219)

Loss attributed to noncontrolling interest

in Symphony GenIsis, Inc. - 6,806

Loss attributed to noncontrolling interest

in Regulus Therapeutics LLC 883 -

Loss attributed to noncontrolling interest

in Ibis Biosciences, Inc. 105 -

Net loss applicable to common stock $(4,285) $(13,020)

Basic and diluted net loss per share $(0.05) $(0.16)

Shares used in computing basic and diluted

net loss per share 90,799 82,456

Isis Pharmaceuticals, Inc.

Reconciliation of GAAP to Proforma Basis:

Condensed Consolidated Operating Expenses and Loss From Operations

(In Thousands)

Three months ended,

March 31,

2008 2007

(unaudited)

As reported operating expenses according to GAAP $30,185 $23,351

Excluding compensation expense related to stock

options pursuant to SFAS 123(R) (3,759) (2,364)

Proforma operating expenses
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SOURCE Isis Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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