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

onths ended September 30, 2010 were $37.6 million and $114.6 million, respectively, compared to $37.2 million and $105.2 million for the same periods in 2009.  

Net Loss from Continuing Operations Attributable to Isis Pharmaceuticals, Inc. Common StockholdersNet loss from continuing operations for the three and nine months ended September 30, 2010 was $12.5 million and $47.3 million, respectively, compared to $11.6 million and $15.2 million for the same periods in 2009.  The increase in Isis' net loss from continuing operations for the nine months was primarily due to the following:

  • $22.5 million increase in net operating loss, excluding Regulus, as described above;
  • $3.4 million increase in Isis' share of Regulus' net loss;
  • $2.7 million decrease in investment income due to a lower average return on investments resulting from the current market conditions and a lower average cash balance; and
  • $880,000 non-cash loss that Isis recognized in 2010 related to the impairment of its equity investment in Antisense Therapeutics Limited compared to a $2.5 million gain in 2009 from the sale of OncoGenex common stock that Isis owned.

  • Net Income (Loss)Isis reported a net loss of $12.5 million and $47.3 million for the three and nine months ended September 30, 2010, respectively, compared to a net loss of $11.6 million for the three months ended September 30, 2009 and net income of $171.9 million for the nine months ended September 30, 2009.  Basic and diluted net loss per share for the three and nine months ended September 30, 2010 was $0.13 per share and $0.48 per share, respectively, compared to basic and diluted net loss per share of $0.12 for the three months ended September 30, 2009 and net income per share of $1.75 for the nine months ended September 30, 2009.  Net income and net income per share for the first nine months of 2009 primarily consisted of the $187.2 m
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    SOURCE Isis Pharmaceuticals, Inc.
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