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ADVANCED TISSUE SCIENCES INC. REPORTS FIRST QUARTER RESULTS

 ADVANCED TISSUE SCIENCES INC. REPORTS FIRST QUARTER RESULTS
 LA JOLLA, Calif., June 2 /PRNewswire/ -- Advanced Tissue Sciences Inc. (NASDAQ-NMS: ATISA) today released its results for the first quarter ended April 30, 1992. Sales of Skin2(TM), the company's toxicology testing kits composed of living human tissue, increased to $240,000, compared with the previous quarter's sales of $189,000. Skin2 sales for the first quarter of the previous year were $39,000. Total revenues and net loss for the quarter were $716,000 and $1.8 million, respectively, compared with total revenues of $120,000 and a net loss of $1.5 million in the first quarter of the previous year. Increased expenditures reflect higher research and development costs, according to Arthur J. Benvenuto, chairman, president and chief executive officer. On a per share basis, the net loss for the quarter was $0.08, compared to a loss of $0.09 per share for the corresponding prior-year period.
 "During the past quarter, we were able to strengthen our financial position through a public offering, add experienced management in key areas such as operations, legal and sales and marketing, and increase our presence within the research community with a variety of scientific presentations," said Benvenuto. "Taken together, these elements will allow us to expand our Dermagraft(TM) clinical trials and to accelerate our research and development efforts."
 In February, the company issued 2.3 million shares of common stock in a public offering which generated net proceeds of approximately $31 million. At the end of the first quarter, the company had approximately $44 million in cash and investments.
 The company also announced that its shareholders today approved a proposal whereby the company's class A common stock will be consolidated into a single class of common stock. The consolidation further simplifies the company's capital structure. As a result, the company's stock symbol on the NASDAQ-NMS will become "ATIS," effective June 3, 1992. Shareholders are to retain their existing class A stock certificates which will continue to evidence their ownership in the company.
 Advanced Tissue Sciences Inc. (formerly Marrow-Tech Inc.) is a tissue engineering company engaged in the growth of human tissue and organs for potential therapeutic and laboratory applications. Using its proprietary three-dimensional culture system, the company has successfully replicated a variety of human tissues including skin, cartilage, oral mucosa, bone marrow and liver.
 ADVANCED TISSUE SCIENCES INC.
 (A Development Stage Company)
 Selected Financial Information
 Three months ended April 30,
 1992 1991
 Revenues:
 Interest income $422,645 $80,951
 Product sales 239,798 39,264
 Other income 53,917 ---
 Total revenues $716,360 $120,215
 Research and development costs $1,050,568 $687,731
 Net loss ($1,781,978) ($1,496,019)
 Net loss per share ($.08) ($.09)
 Weighted average number of
 common shares used in the
 computation of net loss
 per share 21,473,722 15,794,201
 April 30, Jan. 31,
 1992 1992
 Cash, cash equivalents and
 short-term investments $43,902,814 $15,005,410
 Other current assets 723,763 774,076
 Other assets 3,343,864 3,741,287
 Total assets $47,970,441 $19,520,773
 Current liabilities $1,324,933 $1,908,338
 Long-term debt 1,295,326 1,408,490
 Stockholders' equity 45,350,182 16,203,945
 Total liabilities and
 stockholders' equity $47,970,441 $19,520,773
 -0- 6/2/92
 /CONTACT: James P. Linton of Advanced Tissue Sciences, 619-450-5707/
 (ATISA) CO: Advanced Tissue Sciences Inc. ST: California IN: MTC SU: ERN


KJ-JL -- SD001 -- 6244 06/02/92 13:20 EDT
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Date:Jun 2, 1992
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