IONIS PHARMACEUTICALS INC — Director's Dealing 2012

Sep 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ISIS PHARMACEUTICALS INC (ISIS)
CIK: 0000874015
Period of Report: 2012-09-19

Reporting Person: CROOKE STANLEY T (Director, Chairman, CEO and President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-09-19	Common Stock	M	30000	$5.25	Acquired	30000	Direct
2012-09-19	Common Stock	S	30000	$14.815	Disposed	0	Direct
2012-09-20	Common Stock	M	9462	$5.25	Acquired	9462	Direct
2012-09-20	Common Stock	S	9462	$15.008	Disposed	0	Direct
2012-09-20	Common Stock	M	20538	$6.84	Acquired	20538	Direct
2012-09-20	Common Stock	S	20538	$15.008	Acquired	0	Direct
2012-09-21	Common Stock	M	29462	$6.84	Acquired	29462	Direct
2012-09-21	Common Stock	S	29462	$14.06	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-09-19	Employee Stock Option (right to buy)	$5.25	M	30000	Disposed	2013-01-02	Common Stock (30000)	Direct
2012-09-20	Employee Stock Option (right to buy)	$5.25	M	9462	Disposed	2013-01-02	Common Stock (9462)	Direct
2012-09-20	Employee Stock Option (right to buy)	$6.84	M	20538	Disposed	2013-01-01	Common Stock (20538)	Direct
2012-09-21	Employee Stock Option (right to buy)	$6.84	M	29462	Disposed	2013-01-01	Common Stock (29462)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	875391	Indirect

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 6/27/2012.