ISIS CUTS STAFF BY 40 PERCENT, FOCUSES ON KEY AREAS

Isis Pharmaceuticals on Monday said it is cutting its work force by about 40 percent as part of a move to reduce costs and focus on developing its most advanced experimental drugs and technology. The company, based in Carlsbad, Calif., said it expects to take non-cash write downs on equipment and patents that are not essential to its current focus of between $30 million to $40 million in the fourth quarter of 2004 and further restructuring charges in the first quarter of 2005.

Reuters (http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=7279934)