Isis Pharmaceuticals Inc. announced Wednesday that it hascompleted its secondary public offering of 2.5 million shares ofcommon stock at $7.75 per share.

Isis (NASDAQ:ISIP) filed for this offering on Dec. 15, 1992. TheCarlsbad, Calif., company will have 15.5 million shares ofcommon stock outstanding upon completion of the offering,assuming the underwriters don't exercise their overallotmentoption for 375,000 shares of common stock. The underwritinggroup is managed by Lehman Brothers, PaineWebber Inc.,Cowen & Co. and Daiwa Securities America Inc.

Isis said it intends to use the net proceeds from the offering forits research, drug discovery and development programs, andfor other general corporate purposes.

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