CARLSBAD, Calif., May 19 /PRNewswire-FirstCall/ -- Isis Pharmaceuticals, Inc. (Nasdaq: ISIS) announces the following webcast:

     What:    Isis Pharmaceuticals to provide a general corporate update in
              conjunction with the 2004 Annual Meeting of Stockholders.  The
              corporate update will be presented by Stanley T. Crooke, M.D.,
              Ph.D., Chairman and Chief Executive Officer of Isis.



     When:    Wednesday, May 26, 2004 at 5:30 PM (EDT)



     Where:   http://www.firstcallevents.com/service/ajwz406916921gf12.html or
              www.isispharm.com.



     How:     Live on the internet.  Simply log onto either of the web sites
              listed above.



     Contact:         Kristina Peterson
                      Executive Director, Corporate Communications
                      (760) 603-2521
                      or
                      Alison Trollope
                      Executive Director, Investor Relations
                      (760) 603-3880

If you are unable to participate during the live event, a replay of the webcast will be available at www.isispharm.com, under the "Investor Center" tab, for up to 30 days.

Isis Pharmaceuticals, Inc. is exploiting its expertise in RNA to discover and develop novel human therapeutic drugs for its pipeline and its partners. The company has successfully commercialized the world's first antisense drug and has 11 antisense products in development to treat metabolic, cardiovascular, inflammatory and viral diseases and cancer. Through its Ibis Therapeutics® program, Isis is developing a biosensor to identify infectious organisms, and is discovering small molecule drugs that bind to RNA. As an innovator in RNA-based drug discovery and development, Isis is the owner or exclusive licensee of more than 1,300 issued patents worldwide. Additional information about Isis is available at www.isispharm.com.

This press release includes forward-looking statements regarding Isis Pharmaceuticals. Any statement describing our goals, expectations, intentions or beliefs is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of developing technology and systems used to identify infectious agents, discovering and commercializing drugs that are safe and effective for use as human therapeutics and in the endeavor of building a business around such products and services. Actual results could differ materially from those discussed in this alert. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis' research and development programs are described in additional detail in Isis' Annual Report on Form 10-K for the year ended December 31, 2003, which is on file with the U.S. Securities and Exchange Commission. Copies of this and other documents are available from the company.

Ibis Therapeutics® is a registered trademark of Isis Pharmaceuticals, Inc.

SOURCE Isis Pharmaceuticals, Inc.