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Isis Reports Strong Financial Results and Highlights for Fiscal Year 2008
Date:2/25/2009

egulus Therapeutics

Regulus' revenue for the year ended December 31, 2008 was $2.1 million compared to $119,000 in 2007. The increase was primarily related to revenue from its collaboration with GSK.

Excluding non-cash compensation expense related to stock options, operating expenses for Regulus were $7.6 million for the year ended December 31, 2008 compared to $612,000 in 2007. With the strategic alliance with GSK, it is anticipated that Regulus' expenses will increase over its run rate in 2008 as Regulus advances its research and development activities. Regulus generated a loss from operations, excluding non-cash compensation expense related to stock options, of $5.5 million for the year ended December 31, 2008 compared to $493,000 in 2007.

Business Highlights

"Our pipeline has matured significantly in the past year. Together with our partner, Genzyme, we initiated four new studies that will expand our experience with mipomersen. Mipomersen continues to be well tolerated, and our level of confidence with mipomersen's safety profile continues to grow as our clinical and preclinical experience increases. In addition, our partners have reported encouraging clinical data on a number of antisense drugs in our pipeline, including OGX-011 in patients with prostate cancer and ATL/TV1102 in patients with multiple sclerosis. Positive clinical results for the drugs in our pipeline increase the value of all the drugs and add to a growing body of evidence demonstrating the therapeutic benefit of antisense drugs in a variety of diseases. The efficiency of our antisense technology enables us to expand ours and our partner's pipelines with promising new therapies. Furthermore, our strong financial position provides us the freedom to pursue additional therapeutic areas where we feel antisense can offer new treatment options," added Ms. Parshall.

"We believe that we have j
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SOURCE Isis Pharmaceuticals, Inc.
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