Isis Pharma Q3 Loss Widens - Quick Facts

(RTTNews) - Isis Pharmaceuticals Inc. (ISIS) reported that its third-quarter net loss widened to $26.68 million or $0.23 per share from $24.57 million or $0.21 per share in the prior year quarter.

But, Pro forma net loss narrowed to $18.56 million from $21.76 million in the previous year.

Total revenue for the quarter grew to $44.06 million from $23.59 million in the prior year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.20 per share and revenues of $45.79 million for the quarter. Analysts' estimates typically exclude special items.

As of September 30, 2014, Isis had cash, cash equivalents and short-term investments of $592.0 million compared to $656.8 million at December 31, 2013 and had working capital of $573.8 million at September 30, 2014 compared to $637.7 million at December 31, 2013. The decrease in cash and working capital primarily relates to cash used to fund Isis' operations.

Isis' cash balance at September 30, 2014 does not include approximately $23.5 million in payments that it recognized into revenue in the third quarter and received in the fourth quarter and $20.4 million of proceeds Isis received in November 2014 from participating in Regulus' recently completed equity offering.