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ADVANCED TISSUE SCIENCES INC. REPORTS FIRST QUARTER RESULTS

 LA JOLLA, Calif., May 14 /PRNewswire/ -- Advanced Tissue Sciences Inc. (NASDAQ-NMS: ATIS) today released its results for the first quarter ended March 31, 1993. Total revenues and net loss for the quarter were $2.7 million and $2.6 million, respectively, compared with total revenues of $683,000 and a net loss of $1.9 million for the quarter ended March 31, 1992. On a per share basis, the net loss for the 1993 quarter was $.10, compared to a loss of $.09 for the corresponding prior-year period. Sales of Skin2(TM) in vitro laboratory test kits were in line with the company's expectations at $279,000, compared with sales of $277,000 for the first quarter of the previous year.
 "Increased revenues in this quarter reflect, in part, a commitment fee received from Kirin Brewery Co. Ltd. for the opportunity to develop Stem Cell Proliferation Factor, a novel growth factor," said Arthur J. Benvenuto, chairman, president and chief executive officer. "In addition, we have increased our research and development costs to support sponsored research programs for cartilage, liver and other engineered tissues as part of our strategic plan to develop a diverse product pipeline," Benvenuto added. "Data resulting from some of these programs were discussed in over 25 scientific presentations and publications in the first quarter."
 Advanced Tissue Sciences Inc. is a tissue engineering company engaged in the growth of human tissues and organs intended for therapeutic and laboratory research use. Using its proprietary three-dimensional culture system, the company has successfully replicated a variety of human tissues including skin, cartilage, bone and liver.
 ADVANCED TISSUE SCIENCES INC.
 (A Development Stage Company)
 Selected Financial Information
 (In thousands except per share amounts)
 Three months ended
 March 31,
 1993 1992
 Revenues:
 Product sales $279 $277
 Interest income 265 346
 Other income(a) 2,176 60
 Total revenues $2,720 $683
 Research and development costs $2,944 $1,133
 Net loss ($2,595) ($1,878)
 Net loss per share ($.10) ($.09)
 Weighted average number
 of common shares used
 in the computation of
 net loss per share 25,584 20,686
 March 31, Dec. 31,
 1993 1992
 Cash, cash equivalents and
 short-term investments $33,079 $34,970
 Other current assets 1,207 1,441
 Other assets 4,084 3,685
 Total assets $38,370 $40,096
 Current liabilities $2,430 $2,007
 Stockholders' equity 35,940 38,089
 Total liabilities and
 stockholders' equity $38,370 $40,096
 (a) Includes a $2 million commitment fee received from Kirin Brewery Co. Ltd. under an agreement for research and development of a stem-cell proliferation factor, a growth factor which is believed to stimulate cells responsible for repopulating the body's immune system.
 -0- 5/14/93
 /CONTACT: Janet M. Wahl, director of corporate communications of Advanced Tissue Sciences, 619-450-5737/
 (ATIS)


CO: Advanced Tissue Sciences Inc. ST: California IN: MTC SU: ERN

JL-BP -- SD006 -- 8575 05/14/93 11:00 EDT
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Date:May 14, 1993
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