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ISIS PHARMACEUTICALS ANNOUNCES PUBLIC OFFERING OF TWO MILLION FIVE HUNDRED THOUSAND SHARES OF COMMON STOCK

 CARLSBAD, Calif., Jan. 20 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIP) announced today the public offering of two million five hundred thousand shares of its common stock at $7.75 per share. The company will have 15,542,292 shares of common stock outstanding upon completion of the offering, assuming the underwriter's over-allotment option for two million eight hundred seventy-five thousand shares of common stock is not exercised. The shares are being offered by an underwriting group managed by Lehman Brothers, PaineWebber Incorporated, Cowen & Company and Daiwa Securities America, Inc.
 The company intends to use the net proceeds of this offering for its research, drug discovery and development programs and for other general corporate purposes.
 Isis Pharmaceuticals, based in northern San Diego County is engaged in the discovery, development and marketing of novel human therapeutic products based on proprietary oligonucleotides. Isis has a broad oligonucleotide research program, has multiple compounds in preclinical development, and its first oligonucleotide-based drug, ISIS 2105, is in Phase II clinical trials.
 A copy of the prospectus may be obtained from the offices of Lehman Brothers, World Financial Center, American Express Tower, New York, N.Y. 10285; PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y. 10019; Cowen & Company, 345 California Street, Suite 2600, San Francisco, CA 94104; and Daiwa Securities America Inc., One World Financial Center, 200 Liberty Street, New York, N.Y. 10281.
 -0- 1/20/93
 /CONTACT: Jacqueline G. Siegel, Ph.D. of Isis Pharmaceuticals, 619-931-9200, or Anthony J. Russo, Ph.D. of Noonan/Russo Communications, 212-979-9180, for Isis Pharmaceuticals/
 (ISIP)


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

LD-TM -- NY087 -- 7156 01/20/93 18:26 EST
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Publication:PR Newswire
Date:Jan 20, 1993
Words:278
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