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ISIS PHARMACEUTICALS REPORTS FIRST QUARTER RESULTS

 ISIS PHARMACEUTICALS REPORTS FIRST QUARTER RESULTS
 CARLSBAD, Calif., April 29 /PRNewswire/ -- Isis Pharmaceuticals,


Inc. (NASDAQ: ISIP), today announced its financial results for the first quarter ended March 31, 1992.
 Total revenues for the quarter, which consisted of contract research revenues and interest income, were $2.5 million, compared with $1.7 million for the first quarter of 1991, an increase of 46 percent. Reflecting continued spending on preclinical research and development, Isis reported a net loss of $5 million, or 39 cents per share for the quarter, as compared to a net loss of $1.1 million, or 13 cents per share for the comparable period in 1991.
 "The financial results for the quarter reflect our continued efforts in antisense technology and numerous therapeutic areas of application," said Stanley T. Crooke, chairman, CEO and president. "This has been a particularly productive quarter. We started clinical trials with a compound for one of our target diseases, human papillomavirus. Additionally, Isis signed a licensing agreement with Vical, Inc., for lipid formulations technology and obtained exclusive rights to peptide nucleic acid technology from Panum Institute of the University of Copenhagen and Riso National Laboratory."
 Isis Pharmaceuticals, Inc., located in northern San Diego County, is engaged in the discovery and development of novel therapeutic products based on antisense oligonucleotides.
 ISIS PHARMACEUTICALS, INC.
 Selected Financial Data
 (In thousands, except per share data)
 Statement of Operations
 Three months ended March 31 1992 1991
 Revenues $ 2,493 $ 1,706
 Net loss $(5,006) $(1,102)
 Net loss per share $(.39) $(.13)
 Weighted average shares outstanding 12,849 8,250
 Balance Sheet
 3/31/92 12/31/91
 Cash, cash equivalents and
 short-term investments $52,414 $60,998
 Total assets 68,455 73,625
 Long-term obligations, net
 of current portion 7,151 7,209
 Stockholders' equity $54,117 $59,104
 -0- 4/29/92
 /CONTACT: Lynne Parshall, vice president of Isis, 619-931-9200; or Alexander A. Fudukidis of Noonan/Russo Communications, 212-979-9180, for Isis/
 (ISIP) CO: Isis Pharmaceuticals, Inc. ST: California IN: MTC SU: ERN


GK-TS -- NY011 -- 4208 04/29/92 09:21 EDT
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Date:Apr 29, 1992
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