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ADVANCED TISSUE SCIENCES REPORTS FULL YEAR RESULTS

 ADVANCED TISSUE SCIENCES REPORTS FULL YEAR RESULTS
 LA JOLLA, Calif., April 15 /PRNewswire/ -- Advanced Tissue Sciences,


Inc. (NASDAQ-NMS: ATISA) today released its results for the fourth quarter and fiscal year ended Jan. 31, 1992. Sales of the company's Skin(2)(TM) kits, used by the companies to perform toxicity and irritancy tests on products under development, were $189,200 in the fourth quarter and $488,500 for the fiscal year. The company introduced its Skin(2) kits in November 1990, producing sales of $13,000 in the fourth quarter of fiscal 1991. Total revenues for the quarter and year ended Jan. 31, 1992 were $482,300 and $1,356,900, respectively, compared with total revenues of $112,400 and $798,000, respectively, in fiscal 1991. In line with the company's expectations, the net loss for the fourth quarter was $2.0 million bringing the cumulative loss for fiscal year 1992 to $6.8 million. This compares to a loss of $1.6 million and $5.5 million for the corresponding periods in fiscal year 1991. On a per share basis, the net loss was $.10 and $.36 for the quarter and year ended Jan. 31, 1992, respectively, as compared to $.11 and $.37 for the corresponding prior year periods.
 Arthur J. Benvenuto, chairman, president and chief executive officer commented, "We continue be encouraged by the market's acceptance of our Skin(2) products and with the clinical trials of our Dermagraft(TM) product." Benvenuto added, "We are also pleased to report that the company ended fiscal year 1992 in the strongest financial position in its history with over $15 million in cash and investments, and that another $31 million in capital has been raised from our public offering in the first quarter of the new year. This, combined with our recently announced letter of intent to acquire Neomorphics, Inc., allows us to aggressively continue our programs to bring Dermagraft to market while accelerating the development of other tissues for transplantation."
 Neomorphics, Inc. is a privately held research and development company focusing on the engineering of human tissue and organ transplants and the development of advanced biomaterials through programs conducted by leading scientists at the Massachusetts Institute of Technology and the Children's Hospital in Boston, an affiliate of the Harvard Medical School. Neomorphics holds several patent licenses and licensing rights to future patents from these programs, The proposed acquisition of Neomorphics is scheduled to close in mid-August, subject to the satisfactory completion of various conditions.
 Dermagraft, a dermal replacement product for treating severe wounds, is currently in human clinical trials in patients with severe burns and chronic venous skin ulcers under an Investigational Device Exemption approved by the Food and Drug Administration (FDA). To date, over 75 patents have been enrolled in the clinical trials of Dermagraft in 12 burn and three wound care centers across the United States. The company will have to successfully complete these clinical trials and receive FDA approval before bringing Dermagraft to market.
 Advanced Tissue Sciences, Inc. (formerly Marrow-Tech Incorporated) 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
 Periods ended Three Months Year
 Jan. 31 1992 1991 1992 1991
 Revenues:
 Interest inc. $ 210,516 $ 98,405 $ 785,878 $ 619,801
 Product sales 189,211 13,015 488,504 13,015
 Other income 82,530 1,021 82,530 166,127
 Total revenues 482,257 112,441 1,356,912 798,943
 R&D costs 1,168,926 648,194 3,698,278 2,835,943
 Net loss $(1,993,399) $(1,604,039) $(6,804,775) $(5,487,989)
 Net loss per share $(.10) $(.11) $(.36) $(.37)
 Weighted aver. no.
 of common shares
 used in the
 computation of
 net loss
 per share 19,743,431 14,912,079 18,691,327 14,906,659
 -0- 4/15/92
 /CONTACT: James P. Linton of Advanced Tissue Sciences, 619-450-5707/
 (ATISA) CO: Advanced Tissue Sciences Inc. ST: California IN: MTC SU: ERN


SH-SG -- NY021 -- 8584 04/15/92 10:25 EDT
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Date:Apr 15, 1992
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