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Pharmaceutical company reports increased losses, reduced revenues

Published in Obesity and Diabetes Week, March 8th, 2004

Isis Pharmaceuticals, Inc., (ISIS) announced its financial results for the year ended December 31, 2003.

The company's loss from operations for 2003 was $79.0 million compared to $50.8 million in 2002, according to generally accepted accounting principles (GAAP). Consistent with its guidance, the company's loss from operations for 2003 on a proforma basis was $76.3 million, which is adjusted from GAAP to exclude noncash compensation charges of $913,000 and restructuring charges of $1.8 million. This compared to a proforma loss from operations in 2002 of $52.4 million, which excludes $3.0 million in noncash compensation benefit and restructuring charges of $1.4...

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