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Isis Reports Financial Results and Highlights for 2012
Date:2/28/2013

ts to differ materially from those expressed or implied by such forward-looking statements.  Although Isis' forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis.  As a result, you are cautioned not to rely on these forward-looking statements.  These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2011 and its most recent quarterly report on Form 10-Q, 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.  Regulus Therapeutics™ is a trademark of Regulus Therapeutics Inc.  KYNAMRO™ is a trademark of Genzyme Corporation.

 ISIS PHARMACEUTICALS, INC.SELECTED FINANCIAL INFORMATIONCondensed Consolidated Statements of Operations(In Thousands, Except Per Share Data) Three months ended,Years ended,December 31,December 31,2012201120122011Revenue:(unaudited)Research and development revenue under collaborative agreements$19,015$31,682$99,100$96,190Licensing and royalty revenue8587212,9492,896Total revenue19,87332,403102,04999,086Expenses:Research and development 42,75847,219158,458157,397General and administrative 3,2343,80012,51512,789Total operating expenses45,99251,019170,973170,186Loss from operations(26,119)(18,616)(68,924)(71,100)Other income (expense):Equity in net loss of Regulus Therapeutics Inc.(267)(1,279)(1,406)(3,554)Investment income3595181,8442,414Interest expense(4,817)(5,108)(21,152)(16,732)Gain on investments, net1,4464,4491,4654,182Gain on investment in Regulus Therapeutics Inc.18,356-18,356-Loss on early retirement of
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SOURCE Isis Pharmaceuticals, Inc.
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