IONIS PHARMACEUTICALS INC — Director's Dealing 2012

Sep 6, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2012-09-04

Reporting Person: REED JOHN C (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-04	Common Stock	M	5100	$5.17	Acquired	5100	Direct
2012-09-04	Common Stock	S	5100	$15.17	Disposed	0	Direct
2012-09-06	Common Stock	M	4900	$5.17	Acquired	4900	Direct
2012-09-06	Common Stock	S	4900	$15.175	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-04	Director Stock Option (right to buy)	$5.17	M	5100	Disposed	2013-06-30	Common Stock (5100)	Direct
2012-09-06	Director Stock Option (right to buy)	$5.17	M	4900	Disposed	2013-06-30	Common Stock (4900)	Direct

Footnotes

F1: Acquired as a result of exercising a stock option pursuant to a Rule 10b5-1 Trading Plan. 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 10/3/2011.