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ISIS COMPLETES $20.3 MILLION FINANCING

 CARLSBAD, Calif., Dec. 10 /PRNewswire/ -- Isis Pharmaceuticals Inc. (NASDAQ: ISIP) today announced that it has completed a previously reported $20.3 million private placement of 3.1 million newly issued shares of common stock at $6.50 per share. Shares of the company's common stock closed at $6.38 on Dec. 9, the day prior to the close of the financing. Including the stock issued for this transaction, Isis has 18.7 million shares of common stock outstanding. The offering was arranged by Mehta and Isaly.
 "This successful financing provides Isis with sufficient funds to significantly advance both its development and research stage programs," said Jacqueline G. Siegel, vice president and chief financial officer. "We intend to use the proceeds to fund the continued development of our two clinical candidates, ISIS 2105 for genital warts and ISIS 2922 for retinitis in AIDS patients, while continuing work on preclinical compounds and on second and third generation products."
 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 to treat genital warts, is in Phase II, pivotal quality clinical trials, and its second product, ISIS 2922 to treat retinitis in AIDS patients has recently advanced to Phase I clinical testing.
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 /CONTACT: Jacqueline Siegel, Ph.D., Isis Pharmaceuticals, 619-931-9200; or Lorraine Ruff of Stoorza Ziegaus & Metzger, 619-236-1332, or (home) 619-755-5610/
 (ISIP)


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

MF-EH -- SD002 -- 2676 12/10/93 13:35 EST
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Publication:PR Newswire
Date:Dec 10, 1993
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