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

opportunities for significant near-term revenue from partnerships while we are also setting the stage for significant future revenue growth," said Elizabeth L. Hougen, chief financial officer of Isis. 

"In 2013, we are predicting another year of strong financial performance while continuing to advance our pipeline. Although we are planning to have more than a dozen drugs in later-stage clinical studies throughout the year, we are projecting only a slight increase in our 2013 spending compared to 2012. As such, we expect to end 2013 with a pro forma NOL in the mid $60 million range. We are also projecting to end the year with more than $325 million in cash. Our guidance is supported by our partnering successes in 2012. Because most drugs are not profitable in their first year of commercialization, and because it is too early in the year to predict the revenue trajectory of KYNAMRO, we are being conservative in our projections by not including KYNAMRO profit share revenue this year.  We are pleased with the significant investment Genzyme is making to ensure a successful KYNAMRO launch.  This investment should support strong revenue growth in the future.  We are fortunate to have Genzyme with its expertise in selling and marketing orphan drugs commercializing KYNAMRO and we look forward to providing updates throughout the year on KYNAMRO's commercial success," concluded Ms. Hougen.

Upcoming Key Milestones

  • Receive KYNAMRO marketing opinion from the European regulatory agency
  • Initiate a Phase 2/3 program of ISIS-SMNRx in infants with spinal muscular atrophy
  • Report clinical data on ISIS-SMNRx at the American Academy of Neurology meeting in March
  • Report clinical data on ISIS-CRPRx in patients with rheumatoid arthritis
  • Report clinical data on ISIS-APOCIIIRx in patients with high triglycerides
  • Financial Results
    All pro forma amounts refer
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    SOURCE Isis Pharmaceuticals, Inc.
    Copyright©2012 PR Newswire.
    All rights reserved

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