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Isis Reports Financial Results And Highlights For Second Quarter 2012
Date:8/6/2012

CARLSBAD, Calif., Aug. 6, 2012 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) today reported pro forma net operating income of $6.2 million for the three months ended June 30, 2012 and a pro forma net operating loss (NOL) of $10.0 million for the six months ended June 30, 2012 compared to a pro forma NOL of $11.6 million and $24.9 million for the same periods in 2011.  The significant improvement in the Company's operating results was driven primarily by the $25 million milestone payment Isis earned from Genzyme when the FDA accepted the new drug application (NDA) for KYNAMRO™ in the second quarter.  The Company ended the second quarter of 2012 with $336 million in cash. 

"The planned European and United States launches of KYNAMRO™ will be important milestones for Isis and for antisense technology.  KYNAMRO™ commercialization will change our financial position by adding commercial revenue to the steady stream of income we receive from our partnerships," said B. Lynne Parshall, Chief Operating Officer and CFO of Isis.  "We have maintained a strong financial position as we have approached this important event while also advancing the rest of our pipeline.  We have utilized an innovative and unique business model that has provided us with the cash to expand and mature our industry-leading pipeline.  As we look toward the future, in addition to KYNAMRO™ commercial revenue, we have other significant near-term opportunities for continued revenue growth with a wave of potential product launches in the next three to five years.  We also look forward to completing clinical studies on several  drugs that could be very attractive licensing candidates."

Upcoming Key Milestones

  • Present KYNAMRO™ data at the upcoming European Society of Cardiology highlighting the potential of KYNAMRO͐
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  • SOURCE Isis Pharmaceuticals, Inc.
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