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

s and factors currently known by Isis.  As a result, you are cautioned not to rely on these forward-looking statements.  These and other risks concerning Isis' programs are described in additional detail in Isis' annual report on Form 10-K for the year ended December 31, 2009 and its most recent quarterly report on Form 10-Q, which are on file with the SEC. Copies of these and other documents are available from the Company.

In this press release, unless the context requires otherwise, "Isis," "Company," "we," "our," and "us" refers to Isis Pharmaceuticals and its subsidiaries, including Regulus Therapeutics Inc.

Isis Pharmaceuticals is a registered trademark of Isis Pharmaceuticals, Inc.  Regulus Therapeutics is a trademark of Regulus Therapeutics Inc.ISIS PHARMACEUTICALS, INC.SELECTED FINANCIAL INFORMATIONCondensed Consolidated Statements of Operations(In Thousands, Except Per Share Data)Three months ended,Nine months ended,September 30,September 30,20102009(1)20102009(1)Revenue:(unaudited)(unaudited)Research and development revenue under collaborative agreements$27,785$25,962$77,484$86,415Licensing and royalty revenue8398094,5692,924Total revenue28,62426,77182,05389,339Expenses:Research and development 34,71633,832105,82794,519General and administrative 2,8553,3358,72410,685Total operating expenses37,57137,167114,551105,204Loss from operations(8,947)(10,396)(32,498)(15,865)Other income (expense):Equity in net loss of Regulus Therapeutics Inc.(930)-(6,358)-Investment income7761,4302,5905,241Interest expense(3,338)(3,185)(9,835)(9,421)Gain (loss) on investments, net(15)123(1,162)2,794Loss from continuing operations, before income tax expense (12,454)(12,028)(47,263)(17,251)Income tax expense-(724)(2)(873)Net loss from continuing operations(12,454)(12,752)(47,265)(18,124)Discontinued operations:Loss from discontinued operations---(29)Gain on sale of Ibis Biosciences, Inc., net of tax-34-187,153Net income from discontinued operations, net
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SOURCE Isis Pharmaceuticals, Inc.
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