Thursday, Isis Pharmaceuticals Inc. (ISIS) reported a narrower loss in the second quarter from the previous year, helped by an increase in revenues.
Second-quarter net loss attributable to stockholders was $2.90 million compared to a net loss of $3.7 million last year. Loss per share were $0.03 compared to $0.02 a year ago. Pro forma net income increased to $669 thousand from $269 thousand a year ago. On average, 12 analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the quarter.
Isis also reported a pro forma net operating loss of $1.3 million for the second quarter, compared to a pro forma net operating income of $4.6 million for the same period in 2008.
Total revenue increased to $30.99 million from $29.70 million a year ago. Analysts expected revenues of $32.11 million for the quarter.
Net income attributable to common stockholders for the six months were $168.9 million or $0.02 per share, compared to a net loss of $9.5 million or $0.04 loss per share for the last year. For the six months , total revenue increased to $62.56 million from $48.07 million last year.
ISIS is currently trading at $17.01down $1.40 or 7.60% on a volume of 1.046 million shares on the Nasdaq.
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