Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2011

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

12. Quarterly Financial Data (Unaudited)

The following financial information reflects all normal recurring adjustments, which are, in the opinion of management, necessary for a fair statement of the results of the interim periods. Summarized quarterly data for the years ended December 31, 2011 and 2010 are as follows (in thousands, except per share data).

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2011 Quarters
Revenue	$	21,147		$	24,823		$	20,713		$	32,403
Operating expenses	37,255			38,883			43,029			51,019
Loss from operations	(16,108		)	(14,060		)	(22,316		)	(18,616		)
Net loss attributable to Isis Pharmaceuticals, Inc. common stockholders	$	(19,994	)	$	(17,889	)	$	(26,882	)	$	(20,036	)
Basic and diluted net loss attributable to Isis Pharmaceuticals, Inc. common stockholders(1)	$	(0.20	)	$	(0.18	)	$	(0.27	)	$	(0.20	)

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2010 Quarters
Revenue	$	29,926		$	23,503		$	28,624		$	26,420
Operating expenses	34,806			42,175			37,571			42,277
Loss from operations	(4,880		)	(18,672		)	(8,947		)	(15,857		)
Net loss attributable to Isis Pharmaceuticals, Inc. common stockholders	$	(9,658	)	$	(25,154	)	$	(12,454	)	$	(13,985	)
Basic and diluted net loss attributable to Isis Pharmaceuticals, Inc. common stockholders(1)	$	(0.10	)	$	(0.25	)	$	(0.13	)	$	(0.14	)

(1)We computed net loss per share independently for each of the quarters presented. Therefore, the sum of the quarterly net loss per share will not necessarily equal the total for the year.