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Isis Reports Strong Financial Results and Highlights for First Quarter of 2009
Date:5/7/2009

e antisense drugs that we discovered or drugs derived from technology that we created and licensed, which is broadening and maturing our pipeline, such as Achaogen's new aminoglycoside, ACHN-490. Finally, these partnerships continue to benefit us financially. Since the beginning of the year, we have earned over $12 million from our partners at Alnylam for our single-stranded RNAi alliance, Alnylam's recent partnering activity with Cubist, and a milestone payment from Alnylam related to the initiation of clinical trials for ALN-VSP, plus a $1 million milestone payment from Achaogen. Most importantly, we completed the sale of our diagnostics subsidiary, Ibis, to Abbott Molecular at the beginning of the year for a total price of $215 million," added Ms. Parshall.

"Ibis is a great example of how we monetize our innovation for short-term significant financial gain while putting our diagnostics subsidiary in the hands of a partner that can maximize its commercial value, which we expect to continue to benefit from earn out payments on Ibis' commercial sales. This is the power of our business strategy; we capitalize on our technology and drug discovery platform to create not only short-term financial value but also sustainable value in the future as our assets advance," continued Ms. Parshall.

Drug Development Highlights

"Of course, our most significant upcoming milestone for this year is reporting the data from our Phase 3 study evaluating mipomersen in homozygous Familial Hypercholesterolemia patients. We expect top-line data from this study this quarter. This study is the first of four Phase 3 studies evaluating mipomersen and we expect additional data as we complete additional studies on mipomersen. Moreover, we have many key milestones to look forward to in 2009, including data on many of the other drugs in our pipeline," concluded Ms. Parshall.

Mipomersen, the most advanced drug in
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SOURCE Isis Pharmaceuticals, Inc.
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