IONIS PHARMACEUTICALS INC — Director's Dealing 2012

Jul 11, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2012-07-09

Reporting Person: Geary Richard S (Sr VP, Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-07-09	Common Stock	M	2686	$5.25	Acquired	5876	Direct
2012-07-09	Common Stock	S	2686	$13.47	Disposed	3190	Direct
2012-07-09	Common Stock	M	2000	$5.25	Acquired	5190	Direct
2012-07-09	Common Stock	S	2000	$13.49	Disposed	3190	Direct
2012-07-09	Common Stock	M	1000	$5.25	Acquired	4190	Direct
2012-07-09	Common Stock	S	1000	$13.45	Disposed	3190	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-09	Employee Stock Option (right to buy)	$5.25	M	5686	Disposed	2013-01-02	Common Stock (5686)	Direct

Footnotes

F1: Acquired as a result of exercising a stock option that was scheduled to expire on 1/2/2013. 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 10/14/2010.