F-4
ISISPHARMACEUTICALS, INC.
CONSOLIDATEDSTATEMENTSOFOPERATIONS
(In thousands, except forper share amounts)
YearsEndedDecember 31,
2013
2012
2011
Revenue:
Research anddevelopment revenue under collaborative agreements ......... $ 144,194 $
96,415 $
96,190
Licensing and royalty revenue ....................................................................
3,091
5,634
2,896
Total revenue ..........................................................................................
147,285
102,049
99,086
Expenses:
Research, development andpatent expenses ...............................................
184,033
158,458
157,397
General and administrative .........................................................................
14,918
12,515
12,789
Total operating expenses .........................................................................
198,951
170,973
170,186
Loss fromoperations ...............................................................................
(51,666)
(68,924)
(71,100)
Other income (expense):
Equity in net loss ofRegulusTherapeutics Inc. ..........................................
—
(1,406)
(3,554)
Investment income ......................................................................................
2,085
1,844
2,414
Interest expense ...........................................................................................
(19,355)
(21,152)
(16,732)
Gainon investments, net .............................................................................
2,378
1,465
4,182
Gainon investment inRegulus Therapeutics Inc. .......................................
—
18,356
—
Loss on early retirement of debt .................................................................
—
(4,770)
—
Loss before income tax benefit (expense) .......................................................
(66,558)
(74,587)
(84,790)
Income tax benefit (expense) ..........................................................................
5,914
9,109
(11)
Net loss ........................................................................................................... $ (60,644) $
(65,478) $ (84,801)
Basic and dilutednet loss per share ................................................................ $
(0.55) $
(0.65) $
(0.85)
Shares used in computingbasic anddiluted net loss per share .......................
110,502
100,576
99,656
See accompanyingnotes.
