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ALPHA 1 BIOMEDICALS, INC. FIRST QUARTER CALENDAR YEAR 1993 RESULTS

 BETHESDA, Md., May 6 /PRNewswire/ -- Alpha 1 Biomedicals, Inc. (NASDAQ: ALBM) today reported financial results for the first quarter of calendar year 1993.
 Revenues for the first quarter were $451,454 resulting in a net loss of $1,016,017 or $.013 per share. The results for the same quarter of the preceding year were a net loss of $927,331 or $0.13 per share. No revenues were recorded for the comparable period a year earlier.
 Revenues for the first quarter 1993 included licensing fees and the proceeds of product sales resulting primarily from the shipment of Thymosin alpha 1 to licensees for use in clinical trials.
 The losses for the quarter were in line with management's expectations and were primarily associated with increased cost and expenses related to product sales, occupancy expenses, patent related expenses, and a royalty payment.
 As previously announced, during March 1993 the company gave notice to the intended redemption of its 1,100,000 outstanding class B warrants. Prior to redemption 1,098,170 of the warrants were exercised yielding gross proceeds of $10,981,700. Each holder who exercised a class B warrant received one share of common stock and one class C warrant. The class C warrants expire on Feb. 28, 1997, and are redeemable by the company after Feb. 28, 1994, at a redemption price of $0.10 per warrant, it the average price of the common stock exceeds $25.00 for 20 consecutive business days. The proceeds will be used to fund clinical research operations and capital investment expenses.
 Alpha 1 Biomedicals, Inc. is engaged in the development of pharmaceutical products for the treatment of chronic viral diseases, immune disorders and cancer. The company's lead drug, Thymosin alpha 1, is currently in United States clinical trials for the treatment of chronic hepatitis B, chronic hepatitis C and AIDS.
 ALPHA 1 BIOMEDICALS, INC.
 Statement of Operations
 (unaudited)
 Three months ended March 31 1993 1992
 Total revenues $ 451,454 $ --
 Expenses 1,386,547 917,522
 Operating loss (935,093) (917,522)
 Non-operating expenses, net (80,924) (9,809)
 Net loss 1,016,017 927,331
 Net loss per common share 0.13 0.13
 Weighted average number of
 common shares outstanding 7,684,821 7,289,430
 -0- 5/6/93
 /CONTACT: R. J. Lanham, |ice president-finance of Alpha 1 Biomedicals, Inc., 301-564-4400, or Anita Monteith Dixon of Long Ridge Associates, 203-790-0647, for Alpha 1 Biomedicals, Inc./
 (ALBM)


CO: Alpha 1 Biomedicals, Inc. ST: Maryland IN: MTC SU: ERN

TS-OS -- NY096 -- 5581 05/06/93 15:27 EDT
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Publication:PR Newswire
Date:May 6, 1993
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