Printer Friendly

ISIS PHARMACEUTICALS ANNOUNCES $17.7 MILLION PRIVATE PLACEMENT

 CARLSBAD, Calif., Nov. 24 /PRNewswire/ -- Isis Pharmaceuticals Inc. (NASDAQ: ISIP) today announced a private placement of $17.7 million of newly issued common stock with a group of institutional and private investors. The investors are purchasing the shares at a price of $6.50 per share. The company's common stock closed at $6.88 on Nov. 23.
 The closing of the transaction is conditioned upon the effectiveness of a registration statement filed by Isis today covering resales by purchasers. The transaction was arranged by Mehta and Isaly.
 "Our strengthened financial position should allow us to continue the aggressive development of our clinical candidates while pursuing our longer-term objectives," said Jacqueline G. Siegel, Ph.D, vice president and chief financial officer.
 Isis intends to use the proceeds of this transaction to fund the continued development of its clinical candidates, ISIS 2105 for genital warts and ISIS 2922 for retinitis in AIDS patients as well as for advancement of preclinical candidate products, for research and general corporate purposes.
 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.
 -0- 11/24/93
 /CONTACT: Jacqueline G. Siegel, Ph.D., or B. Lynne Parshall, of Isis Pharmaceuticals, 619-931-9200/
 (ISIP)


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

NY-EH -- SD006 -- 7713 11/24/93 14:51 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Nov 24, 1993
Words:256
Previous Article:VISTA ENVIRONMENTAL INFORMATION INC. OFFERS SERVICES DIRECTLY TO RTC CONSULTANTS, CONTRACTORS
Next Article:HEARINGS RESUME ON LORENZO AIRLINE APPLICATION; FORMER CONTINENTAL CHIEF BLASTS LORENZO AS UNFIT
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters