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

d quarter with more than $590 million in cash, which was bolstered by the proceeds from our recent stock offering.  We have also received $93 million from our partners so far this year, including, in the second quarter, $30 million from our new collaboration with Roche, $16 million from AstraZeneca and $3.5 million from Biogen Idec for the advancement of ISIS-SMNRx. As our partnered programs advance in development, we have the potential to earn additional milestone payments this year.  With our strong cash position, we are now able to take some of our drugs into late-stage clinical studies prior to partnering," said Elizabeth L. Hougen, chief financial officer of Isis.  "We are on track to meet or exceed our 2013 guidance of a pro forma NOL in the mid $60 million range while accelerating development of ISIS-APOCIIIRx and other drugs in our pipeline.  Because of the successful completion of our recent stock offering, we expect to significantly exceed our cash guidance for 2013."Upcoming Key Milestones

  • Report clinical data on ISIS-APOCIIIRx as a monotherapy in patients with severely high triglycerides at the European Society of Cardiology Congress.
  • Present the complete Phase 2 clinical data for ISIS-APOCIIIRx at the American Heart Association.
  • Report data from two clinical studies evaluating ISIS-SMNRx in children and in infants with spinal muscular atrophy.
  • Financial Results
    All pro forma amounts referred to in this press release exclude non-cash compensation expense related to equity awards. Please refer to the reconciliation of pro forma and GAAP measures, which is provided later in this release.

    Revenue
    Revenue for the three and six months ended June 30, 2013 was $38.1 million and $81.5 million, respectively, compared to $47.3 million and $70.6 million for the same periods in 2012.  Isis' revenue fluctuates based on the nature an
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    SOURCE Isis Pharmaceuticals, Inc.
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