Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ISIS Pharmaceuticals, Inc.

  Law Offices of Howard G. Smith Announces Class Action Lawsuit Against ISIS
  Pharmaceuticals, Inc.

Business Wire

BENSALEM, Pa. -- January 26, 2013

Law Offices of Howard G. Smith announces that a class action lawsuit has been
filed in the United States District Court for the Southern District of
California on behalf of all purchasers of the common stock of ISIS
Pharmaceuticals, Inc. (“ISIS” or the “Company”) (NASDAQ:ISIS) between March
29, 2012 and October 15, 2012, inclusive (the “Class Period”).

ISIS engages in the discovery and development of drugs utilizing antisense
technology, primarily to treat cardiovascular, metabolic, severe and rare
diseases, as well as cancer. The Complaint alleges that throughout the Class
Period the Company and certain of its executive officers issued materially
false and misleading statements regarding the safety and efficacy of the
Company’s flagship product, Kynamro (mipomersen sodium), for the treatment of
patients with Homozygous Familial Hypercholesterolaemia. Specifically, the
Complaint alleges that defendants, through a series of materially false and
misleading statements regarding the safety and efficacy of the product, and
reportedly positive results from Kynamro’s clinical trials, conditioned
investors to believe that Kynamro would receive approval from the U.S. Food
and Drug Administration (FDA).

On October 16, 2012 the FDA published a clinical briefing document raising
concerns regarding the safety and efficacy of Kynamro, noting among other
things, abnormal growths or neoplasms developed in 3.1% of patients treated
with Kynamro, as compared to only 0.9% of patients who took a placebo; that
the data submitted by the Company was limited by a small sample size and a
short treatment time, and that during the clinical testing two patients
treated with Kynamro died of heart attacks and another patient died of acute
liver failure. The FDA report concluded that this “imbalance in neoplasms will
need to be assessed further in on-going and future studies and post-marketing
(if approved),” and that “the potential for a contributing effect of
mipomersen cannot be ruled out” in the patient deaths. As a result of these
disclosures, ISIS shares declined nearly 22%, to close at $10.27 on October
16, 2012.

No class has yet been certified in this action. Until a class is certified,
you are not represented by counsel unless you retain one. If you purchased
ISIS common stock during the Class Period, you have certain rights, and have
until February 26, 2013 to move for lead plaintiff status. To be a member of
the class you need not take any action at this time, and you may retain
counsel of your choice. If you wish to discuss this action or have any
questions concerning this Notice or your rights or interests with respect to
these matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to
howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.

Contact:

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com