Isis Loss Narrows On Higher Milestone Payments

(RTTNews) - Isis Pharmaceuticals Inc (ISIS) on Tuesday reported first-quarter net loss of $16.7 million or $0.14 per share compared with a loss of $31.3 million or $0.27 per share last year.

Pro forma loss for the quarter was $3.4 million compared with a loss of $24.2 million a year ago.

Revenues for the quarter were $62.6 million compared with $28.2 million in the prior year, due to higher milestone payments.

Analysts polled by Thomson Reuters estimated a loss of $0.20 per share on revenues of $52.7 million for the quarter. Analysts' estimates typically exclude special items.

Operating expenses rose to $71.9 million from $57.8 million a year ago, and interest expense increased to $9 million from about $5 million.