IONIS PHARMACEUTICALS INC — Director's Dealing 2012

Jun 22, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2012-06-22

Reporting Person: REED JOHN C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-22	Common Stock	M	10000	$8.15	Acquired	10000	Direct
2012-06-22	Common Stock	S	10000	$11.06	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-06-22	Director Stock Option (right to buy)	$8.15	M	10000	Disposed	2012-06-30	Common Stock (10000)	Direct

Footnotes

F1: Acquired as a result of exercising a stock option that was scheduled to expire on 6/30/12. The purchase and sale reported on this Form 4 was effective pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person on 10/3/11.