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

ust begun to benefit from the efficiency of our technology. The successes that we have had in the past two years have generated more than $650 million in cash with the potential for us to earn future milestones and royalties as drugs from our collaborations progress. The most tangible recent example of the success of our business strategy is the sale of our Ibis subsidiary to AMI for a total purchase price of $215 million and the ability to continue to participate in Ibis' commercial success through an earn out as AMI sells Ibis products," added Ms. Parshall.

"We have many key milestones to look forward to in 2009, with the most significant being the data from our Phase 3 study evaluating mipomersen in patients with homozygous FH. Also we and our partners expect to report data from some of the other drugs in our pipeline in a number of different diseases, including metabolic diseases. We will aggressively grow our pipeline, adding 3 to 5 new drugs per year and advancing the drugs currently in our pipeline. In short, 2008 was a remarkable year for us. Our successes this past year bring our drugs closer to commercialization and reflect the type of shareholder value we can create. We look forward to another exciting year," concluded Ms. Parshall.

Drug Development Highlights

Isis and Genzyme made substantial progress defining the safety and activity profile of mipomersen and moving the drug toward the market including,

  • Completing enrollment in a Phase 3 mipomersen study in homozygous FH subjects.
  • Initiating four additional mipomersen studies in high-risk patients, including three Phase 3 studies in heterozygous FH subjects, high-risk hypercholesterolemia and severe hypercholesterolemia patients and a Phase 2 study in statin-intolerant patients.
  • Reporting additional safety data including mipomersen data from a Phase 2 mipomersen liver ima
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SOURCE Isis Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
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