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Isis Reports Financial Results and Highlights for First Quarter of 2008


Cost of commercial revenue(2) 817 718

Research and development 4,556 3,005

Selling, general and administrative 1,503 988

Total operating expenses 6,876 4,711

Loss from operations $(3,897) $ (3,135)

(1) Ibis' commercial revenue has been classified as research and

development revenue under collaborative agreements on Isis' condensed

consolidated statement of operations.

(2) Ibis' cost of commercial revenue has been classified as research and

development expenses on Isis' condensed consolidated statement of


Isis Pharmaceuticals, Inc.

Condensed Consolidated Balance Sheets

(In Thousands)

March 31, December 31,

2008 2007



Cash, cash equivalents and short-term investments $338,415 $193,719

Other current assets 14,436 13,598

Property, plant and equipment, net 8,274 7,131

Other assets 44,299 44,410

Total assets $405,424 $258,858

Liabilities, noncontrolling interest and

stockholders' equity:

Current liabilities $80,260 $62,205

2 5/8% convertible subordinated notes 162,500 162,500

Long-term obligations, net of current portion 85,189 23,910

Noncontrolling interest in Regulus

Therapeutics LLC

SOURCE Isis Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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