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Recombinant and MAVERIC are continuing to work together on the next phases of GenISIS, which will include the clinical data warehouse integrating genomic data with the clinical data maintained in the VistA EMR, biorepository management, cohort discovery and hypothesis testing tools, and the genomics analysis framework.
The overall goal of GenISIS and MVP is to create a patient recruitment infrastructure and data repository integrating genomic and clinical data, in support of the VA's research to understand the disease mechanisms involved in disorders of importance to veterans' health.
3 million that Isis recognized when it acquired Symphony GenIsis in 2007.
SELECTED FINANCIAL INFORMATION Condensed Consolidated Statements of Operations (In Thousands, Except Per Share Data) Three months ended, March 31, 2008 2007 (unaudited) Revenue: Research and development revenue under collaborative agreements $20,686 $2,002 Licensing and royalty revenue 668 448 Total revenue 21,354 2,450 Expenses: Research and development 26,449 19,949 Selling, general and administrative 3,736 3,402 Total operating expenses 30,185 23,351 Loss from operations (8,831) (20,901) Other income (expense): Investment income 4,956 3,401 Interest expense (1,398) (2,628) Gain on investments - 1,521 Loss on early retirement of debt - (1,219) Loss attributed to noncontrolling interest in Symphony GenIsis, Inc.
related to its collaboration with Symphony GenIsis.
4 million cash payment for the acquisition of Symphony GenIsis and the cash used in operations offset by the net cash received from the issuance of the 2 5/8% notes after repayment of the 5 1/2% notes, the $15 million upfront licensing fee received from BMS and the $26.
Symphony GenIsis was the entity formed in April 2006 by Symphony Capital Partners, L.
In 2006, the loss attributed to noncontrolling interest in Symphony GenIsis was $13.
The Symphony GenIsis collaboration, the Azimuth Opportunity transaction and the issuance of the New Notes provide Isis with the financial strength to continue to successfully execute its goals.
3 million for the three and nine months ended September 30, 2006, respectively, in the Noncontrolling Interest in Symphony GenIsis Inc.
Isis expects pro forma operating expenses to increase slightly during the remainder of 2006 as the Company advances the development of ISIS 301012 and the two preclinical diabetes drug candidates funded through Isis' collaboration with Symphony GenIsis, Inc.