Isis Pharmaceuticals Receives $10M Milestone PaymentTuesday, June 4, 2013
Carlsbad-based Isis Pharmaceuticals Inc. has received a $10 million milestone payment from AstraZeneca Plc for its prostate cancer drug, ARRx.
The drug uses Isis’ proprietary antisense technology, which engineers RNA molecules to deactivate prostate cancer-causing genes.
The company is on a roll as far as payouts go — it recently filed a secondary public stock offering that it said could bring in an additional $171 million on June 4.
At market close June 3, the $2.2 billion market cap company traded at $21.38 per share — a 31 cent decrease from the previous week.
— SDBJ Staff Report