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Isis Reports Financial Results and Highlights for Second Quarter 2011
Date:8/4/2011

CARLSBAD, Calif., Aug. 4, 2011 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) today announced its financial results for the quarter ended June 30, 2011.  The Company finished the second quarter of 2011 with a pro forma net operating loss (NOL) of $11.6 million and $24.9 million for the three and six months ended June 30, 2011, respectively, compared to a pro forma NOL of $15.5 million and $17.1 million for the same periods in 2010.  The Company finished the second quarter of 2011 with more than $395 million in cash.  Isis remains on track to meet its 2011 guidance of an NOL in the low $40 million range and a year-end cash balance of more than $350 million.

"We were pleased to announce last week that Genzyme submitted the mipomersen marketing application to the European Medicines Agency and remains on track to submit the US application for marketing approval later this year.  Pending regulatory approval, mipomersen will be marketed under the brand name Kynamro™.  The Kynamro European regulatory submission is a significant achievement and brings this potentially life-changing drug closer to patients who are at great risk of dying from their cardiovascular disease.  We continue to work closely with Genzyme to complete all the steps necessary for a successful approval and launch planned in 2012," said B. Lynne Parshall, COO and CFO of Isis.  "We believe the initial commercial opportunities for Kynamro are significant and could provide us with the opportunity to earn significant commercial revenue."  

Upcoming Key Milestones

  • File for marketing approval for Kynamro™ (mipomersen) in the United States in the fourth quarter of 2011 for patients with homozygous Familial Hypercholesterolemia (FH).
  • Initiate Phase 2 studies on ISIS-CRPRx in patients with Rheumatoid Arthritis and Multiple Myeloma.<
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  • SOURCE Isis Pharmaceuticals, Inc.
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