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Isis Reports Financial Results and Highlights for First Quarter 2013
Date:5/7/2013

its partners in the first quarter.

Balance SheetAs of March 31, 2013, Isis had cash, cash equivalents and short-term investments of $371.9 million compared to $374.4 million at December 31, 2012 and had working capital of $361.5 million at March 31, 2013 compared to $349.1 million at December 31, 2012.  Isis maintained its cash position primarily due to the $32.5 million in milestone payments it received in the first quarter while continuing to invest in its pipeline. Isis' cash at March 31, 2013 does not include the $30 million upfront payment Isis received from Roche for Isis' HTT collaboration.  Isis' working capital increased in 2013 primarily due to an increase in current assets resulting from an increase in Isis' investment in Regulus. At March 31, 2013, the carrying value of Isis' investment in Regulus was $44.9 million compared to $33.6 million at December 31, 2012.

Business Highlights"We have had a number of important accomplishments already this year.  Together with Genzyme we brought KYNAMRO to the market in the United States for patients with HoFH.  We continued to mature and expand our severe and rare disease franchise, reporting early encouraging data on our first splicing drug, ISIS-SMNRx, in children with spinal muscular atrophy and initiating Phase 2/3 programs for ISIS-SMNRx with Biogen Idec and ISIS-TTRRx with GSK.  We plan to continue this momentum through the year.  Over the next couple of months we plan to report Phase 2 data on both ISIS-CRPRx and ISIS-APOCIIIRx," continued Ms. Parshall. 

"We continue to be successful in implementing our business strategy and establishing strategic partnerships that provide us with significant value.  The performance of our drugs in the clinic and the broad applicability of our antisense technology have generated significant interest in Isis.  One of our partnering goals is to selec
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SOURCE Isis Pharmaceuticals, Inc.
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