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Isis Reports Financial Results and Highlights for Fiscal year 2007

bed in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2006, and its quarterly report on Form 10-Q for the quarter ended September 30, 2007, which are on file with the SEC. Copies of these and other documents are available from the Company.

In this press release, unless the context 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.



Condensed Consolidated Statements of Operations

(In Thousands, Except Per Share Data)

Three months ended, Years ended,

December 31, December 31,

2007 2006 2007 2006

Revenue: (unaudited) (unaudited)

Research and development

revenue under


agreements $16,191 $3,832 $33,596 $15,091

Licensing and royalty

revenue 8,536 8,114 36,025 9,441

Total revenue 24,727 11,946 69,621 24,532


Research and development 28,012 24,240 92,641 80,567

Selling, general and

administrative 5,159 4,521 15,928 12,619

Restructuring activities - (79) - (536)

Total operating expenses 33,171 28,682 108,569 92,650

Loss from operations (8,444) (16,736)

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

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