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Isis Reports Financial Results and Highlights for Third Quarter 2010
Date:11/4/2010

e payments in the middle of this year.  When we look at the remainder of 2010, we do not anticipate receiving any significant milestone payments; therefore we expect that our revenue in the fourth quarter will be less than in earlier quarters.  Additionally in the fourth quarter, we have a number of internal drugs that are advancing in clinical development.  We will begin two Phase 2 programs for our CRP and eIF-4E drugs and two Phase 1 programs for our FXI and APOCIII drugs.  We will also expand our development pipeline.  These activities will result in an increase in our expenses in the fourth quarter.  Even with these changes, we are on track to meet or improve upon the revised guidance of a pro forma net operating loss in the mid to high $40 million range and year-end cash of more than $450 million that we announced in August."

Upcoming Key Milestones

  • Genzyme expects to file for marketing approval for mipomersen in the U.S. and E.U. in the first half of 2011
  • Report full data from the positive Phase 3 studies evaluating mipomersen in high-cholesterol patients at high risk for coronary heart disease and in patients with severe hypercholesterolemia
  • Initiate the broad Phase 2 program of ISIS-EIF4ERx in patients with cancer
  • Complete and report data from the Phase 1 study of ISIS-CRPRx and initiate the Phase 2 program
  • Excaliard to complete and report data from the remaining Phase 2 studies of EXC 001

  • Financial ResultsBeginning in the first quarter of 2010, as a result of adopting a new required accounting standard, Isis is no longer including Regulus' revenue and operating expenses in its operating results and no longer including Regulus' cash and debt on its balance sheet.  A reconciliation presenting Isis' 2009 operating results on a comparable basis to 2010 appears later in this release.

    All pro forma amounts referred to in this press release exclude non
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    SOURCE Isis Pharmaceuticals, Inc.
    Copyright©2010 PR Newswire.
    All rights reserved

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