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ISIS REPORTS FOURTH QUARTER AND YEAR END RESULTS FOR 1992

 CARLSBAD, Calif., Feb. 24 /PRNewswire/ -- Isis Pharmaceuticals, Inc. (NASDAQ: ISIP), today reported its financial results for the fourth quarter and for the year ended Dec. 31, 1992. For the year ended Dec. 31, 1992, Isis' total revenues reached $10.8 million, up 34 percent from 1991. The principal source of the increased revenues was additional contract research payments from corporate partners. The increase in the company's net loss for 1992 of $19.5 million ($1.51 per share) compared with $8.7 million ($0.84 per share) in 1991 was due to the expansion of activities needed to develop and test ISIS 2105, and to advance several other compounds through preclinical development.
 During the fourth quarter, total revenues reached $2.7 million, compared with $2.6 million in the same quarter of 1991, an increase of 5 percent. Expenses increased to $8.0 million, up 38 percent from $5.8 million in 1991. The fourth quarter loss of $5.3 million represents a per share loss of $0.41, compared with $0.27 during the same period in 1991.
 "During 1992, we began clinical testing of ISIS 2105 for treating genital warts. This drug is now in Phase II pivotal trials. In addition, we have carried out preclinical studies on compounds against seven other targets and have made significant strides in medicinal chemistry and manufacturing. Our results for the fourth quarter and for the year reflect our progress in both development and research," said Jacqueline G. Siegel, Ph.D., vice president and chief financial officer. "We have also added to our corporate partner relationships through our agreement with Kaketsuken and Mochida Co., Ltd. to develop antisense therapeutics against the hepatitis C virus."
 Isis Pharmaceuticals, based in northern San Diego County, is engaged in the discovery and development 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.
 ISIS PHARMACEUTICALS, INC.
 Selected Financial Data
 (Amounts in thousands, except per share data)
 Periods ended Three Months Fiscal Year
 Dec. 31 1992 1991 1992 1991
 Revenues $ 2,719 $ 2,583 $ 10,816 $ 8,043
 Net loss $(5,314) $(3,228) $(19,510) $(8,737)
 Net loss per share $(.41) $(.27) $(1.51) $(.84)
 Weighted average
 shares outstanding 12,962 11,985 12,892 10,355
 -0- 2/24/93
 /CONTACT: Jacqueline G. Siegel, Ph.D., of Isis, 619-931-9200; or Anthony J. Russo, Ph.D., of Noonan/Russo Communications, 212-979-9180, for Isis/
 (ISIP)


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

SM-GK -- NY049 -- 9974 02/24/93 14:13 EST
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Publication:PR Newswire
Date:Feb 24, 1993
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