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Isis Reports Financial Results and Highlights for Second Quarter 2013
Date:8/6/2013

CARLSBAD, Calif., Aug. 6, 2013 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) today reported a pro forma net operating loss (NOL) of $5.3 million and $799,000 for the three and six months ended June 30, 2013, respectively, compared to pro forma net operating income of $6.2 million and a pro forma NOL of $10.0 million for the three and six months ended June 30, 2012.  On a GAAP basis, Isis reported a loss from operations of $7.9 million and $6.3 million for the three and six months ended June 30, 2013, respectively, compared to income from operations of $3.7 million for the three months ended June 30, 2012 and a loss from operations of $14.8 million for the six months ended June 30, 2012.  During the first half of 2013, Isis increased its cash position, ending June with $591 million compared to $374 million at December 31, 2012.  The substantial increase in the Company's cash position was primarily due to its recent equity offering and cash received from its partners in the first half of 2013. 

"We had a successful second quarter.  We ended the quarter with a significantly improved financial position.  We added a new partner, Roche, for one of our severe and rare disease programs.  We advanced our broad pipeline of drugs, and we reported positive Phase 2 data from our drug, ISIS-APOCIIIRx.  These data support our belief that antisense drugs can be safe and effective treatments for many different diseases.  All of these activities have significantly contributed to our financial performance this year and the increase in value of our technology and our drugs in development," said B. Lynne Parshall, chief operating officer of Isis.  "We have a number of key data events to look forward to in the second half of the year as our pipeline and partnerships continue to mature." 

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SOURCE Isis Pharmaceuticals, Inc.
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