The Compensation Committee set the Company Performance Factor for the 2014MBO at 125%due to our
strong achievements for the year across drug discovery, development and corporate development, including the
significant increase in the stock price, continued advancement of the ongoing Phase 3 study for ISIS-TTR
Rx
,
including an $18 million payment fromGSK, advancing key programs into Phase 3 studies, and six positive
efficacy studies for drugs in our pipeline. The table below provides a detailed evaluation of each objective and
the related achievements:
Evaluation of 2014 Corporate Objectives
Objective &Pre-ApprovedMeasures
Evaluation
1 Advance Pipeline:
Isis
exceeded
this objective:
•
Add four new drugs into pipeline
•
Initiate Phase 2 Clinical Trials on four drugs
•
Report positive Phase 2 clinical data on at least
three drugs
•
Initiate Phase 3 Clinical Trials on ISIS-SMN
Rx
(two patient populations)
•
Initiate Phase 3 Clinical Trials on ISIS-APOCIII
Rx
(two patient populations)
•
Continue to advance ongoing Phase 3 clinical trial
for ISIS-TTR
Rx
•
Complete discussions with FDAand EMA that are
supportive of advancing ISIS-SMN
Rx
and
ISIS-APOCIII
Rx
into Phase 3 clinical trials
•
Isis added six drugs to its pipeline
•
Isis and its partners initiated Phase 2 clinical
studies for four drugs
•
Isis reported positive Phase 2 clinical data on
seven drugs
•
Isis initiated ENDEAR and CHERISH, Phase 3
studies for ISIS-SMN
Rx
•
Isis initiatedAPPROACH, a Phase 3 study for
ISIS-APOCIII
Rx
•
Isis successfully advanced the ongoing Phase 3
Clinical Trial for ISIS-TTR
Rx
•
Discussions with FDAand EMAwere supportive
of advancing ISIS-SMN
Rx
and ISIS-APOCIII
Rx
into Phase 3 clinical trials
2 Stock price increase by a percentage greater than or
equal to median of the companies listed in the
NASDAQBiotechnology Index
Isis
exceeded
this objective:
•
Isis’ stock price increased over 50% for the year
while the median stock price change for companies
listed in the NASDAQBiotechnology Index
increased 17%
3 Meet budget and financial projections for the year
Isis
exceeded
this objective:
•
Isis met its budget
•
Isis significantly exceeded its financial guidance
for the year
4 Make Biogen Idec relationship successful:
Isis
exceeded
this objective:
•
Target sanction of at least two targets
•
Isis achieved target sanction for two targets under
its Biogen Idec collaborations
•
Initiate Phase 1 clinical trial for ISIS-DMPK
Rx
•
Isis initiated a Phase 1/2 study of
ISIS-DMPK-2.5
Rx
•
Identify at least two Collaboration Targets
•
Isis identified two collaboration targets under its
Biogen Idec collaborations
•
Identify at least two Development Candidates
•
Isis identified two Development Candidates under
its Biogen Idec collaborations
•
Achieve $120 million in revenue from relationship
•
Isis recognized over $123 million in revenue
during 2014 under its Biogen Idec collaborations
5 Advance at least one LICAdevelopment candidate
through IND-enabling toxicology studies
Isis
met
this objective:
•
Isis completed IND-enabling toxicology studies for
a LICAdevelopment candidate
6 Strengthen clinical leadership and organization
Isis
exceeded
this objective:
•
Successfully integrate newmedical leadership
•
Isis hired five newmedical doctors into its clinical
organization and successfully integrated them
7 Develop and execute long term
commercialization/partnering strategy for
ISIS-APOCIII
Rx
Isis
met
this objective:
•
Isis establishedAkcea Therapeutics to develop and
commercialize the drugs from its lipid franchise
8 Complete an additional strategic partnership
Isis
met
this objective:
•
Isis formed an alliance with Janssen Biotech, Inc.
to discover and develop antisense drugs to treat
autoimmune disorders of the GI tract.
9 Achieve $18 million milestone for ISIS-TTR
Rx
Isis received an $18 million milestone payment from
GSK related to advancing the Phase 2/3 study of
ISIS-TTR
Rx
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