San Diego Business Journal

Isis Pharmaceuticals Receives $10M Milestone Payment

Tuesday, June 4, 2013

Carlsbad-based Isis Pharmaceuticals Inc. has received a $10 million milestone payment from AstraZeneca Plc for its prostate cancer drug, ARRx.

The drug uses Isis’ proprietary antisense technology, which engineers RNA molecules to deactivate prostate cancer-causing genes.

The company is on a roll as far as payouts go — it recently filed a secondary public stock offering that it said could bring in an additional $171 million on June 4.

At market close June 3, the $2.2 billion market cap company traded at $21.38 per share — a 31 cent decrease from the previous week.

— SDBJ Staff Report