The present invention relates to 5-substituted isoindoline compounds of formula (III) or formula (IV) wherein R 10 , R 11 , R 13 , R 14 , X and Y are as defined herein; or a pharmaceutically acceptable salt, solvate, stereoisomer, or prodrug thereof. The present invention also relates to a pharmaceutical composition of the compounds of the invention. The present invention also relates to a compound of the invention for use in treating, managing or preventing disease conditions as disclosed herein.