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ISIS REPORTS CONTINUING TREND OF LOWER LOSSES FOR THE THIRD QUARTER OF 1993

 CARLSBAD, Calif., Nov. 1 /PRNewswire/ -- Isis Pharmaceuticals Inc. (NASDAQ: ISIP) announced today its financial results for the third quarter ended Sept. 30, 1993.
 The net loss for the quarter of $4.6 million, or $0.30 per share, was 6 percent less than the loss of $4.9 million or $0.38 per share reported for the same quarter of 1992, and was also less than the $4.8 million loss posted for the second quarter of 1993. Revenues during the third quarter were approximately $3.3 million, or level with the third quarter of 1992 and consisted of contract revenue and interest income. Operating expenditures totaled $7.7 million, or 4 percent less than the same quarter of 1992.
 For the nine-month period ended Sept. 30, 1993, Isis reported a net loss of $14.5 million or $0.94 per share, compared with a loss of $14.2 million for the first nine months of Sept. 30, 1992 or $1.10 per share. Revenues for the nine-month period of 1993 reached $9.2 million, vs. $8.1 million for the same period of 1992, and operating expenses were $23 million and $21.8 million respectively.
 "Isis is continuing to maintain close control of its expense line. As a result, we have reported for the third quarter a net loss in line with that reported in each of the previous quarters of 1993," said Jacqueline G. Siegel, vice president and chief financial officer. "While we expect that our spending levels will increase as we move our drug candidates through preclinical development and into the clinic, we remain committed to careful management of our financial resources while maintaining progress in our research and development programs.
 Isis Pharmaceuticals Inc., located in northern San Diego County, is engaged in the discovery and development of novel oligonucleotide-based human therapeutic compounds. Isis has a broad oligonucleotide research program and multiple compounds in preclinical development. ISIS 2105, the company's first oligonucleotide-based drug for human genital warts, is in Phase II, pivotal quality clinical trials.
 ISIS PHARMACEUTICALS INC.
 Selected Financial Data
 Amounts in thousands (except loss per share)
 Statements of Operations
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Revenue $3,256 $3,301 $9,216 $8,097
 Net loss (4,631) (4,926) (14,462) (14,196)
 Loss per share (0.30) (0.38) (0.94) (1.10)
 Weighted average
 shares
 outstanding 15,582 12,886 15,323 12,868
 Balance Sheets
 Sept. 30, Dec. 31,
 1993 1992
 Cash, cash equivalents
 and short-term
 investments $37,805 $36,354
 Total assets 60,389 55,474
 Long-term obligations,
 net of
 current portion 8,196 6,674
 Stockholders' equity 43,737 39,849
 -0- 11/1/93
 /CONTACT: Lynne Parshall, or Gary Atkinson of Isis Pharmaceuticals, 619-931-9200/
 (ISIP)


CO: Isis Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

LM-MF -- SD005 -- 9386 11/01/93 18:32 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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