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Thursday, Mar 28, 2024
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Isis Pharmaceuticals Reports Q3 Financial Results

Isis Pharmaceuticals Inc. announced financial results for the third quarter of this fiscal year.

The Carlsbad company reported a net loss of $35.8 million, compared with a net loss of $26.7 million in the same period last year. Revenue was up 11 percent to $49.1 million in Q3, compared with $44.1 million in the third quarter of 2014. According to the report, the increase in operating expenses are due to the company’s maturing pipeline of drugs, and activities to prepare for the launch and commercialization of a drug to treat patients with severely high triglycerides.

Cash, cash equivalents and short-term investments are $812.2 million as of Sept. 30, 2015.

Isis, which is developing 38 drugs with its antisense technology, is currently partnered with several large pharmaceutical companies, including AstraZeneca, Bayer and Biogen.

Already in the fourth quarter of 2015, Isis has earned $16 million in milestone payments from Biogen and GSK.

Isis Pharmaceuticals’ stock is up over 6 percent since the financial results were released Monday. Shares are currently trading for $61.63 per share on Nasdaq under the stock symbol ISIS.

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