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ALPHA-BETA TECHNOLOGY, INC. REPORTS YEAR-END FINANCIAL RESULTS

 WORCESTER, Mass., Feb. 11 /PRNewswire/ -- Alpha Beta Technology, Inc. (NASDAQ: ABTI) today reported financial results for year ended Dec. 31, 1992. For the 12-month period, there was a net loss of $6,516,681, or 84 cents per share, on revenues of $583,723 and expenses of $7,100,404.
 "The past year was highlighted by the rapid advance of Betafectin(tm), our receptor-targeted carbohydrate, into Phase II clinical trials for the prevention and treatment of infection; a bond financing agreement with the State of Rhode Island to fund a commercial manufacturing facility for Betafectin; and a successful initial public offering that raised approximately $16.4 million," commented Dr. Spiros Jamas, president and chief executive officer of Alpha-Beta. "The financial results reflect these activities as well as the continued development of our other carbohydrate-based products, principally Cholestran(tm) to reduce elevated cholesterol levels and Fibercel(tm), our fiber-based fat substitute and dietary fiber supplement.
 "During the year, we completed Phase I trials of Betafectin in healthy volunteers and began several Phase II studies in patients undergoing major chest or abdominal surgery and in patients with severe burns," Jamas noted. "We are very encouraged by the results of the Phase I study and by the preliminary findings from the first Phase II trial. The results of the trials were recently presented at the International Congress on Biological Response Modifiers. "In the coming months, we will refine the initial Phase II results through additional analyses and hope to confirm them in ongoing and subsequent Phase II clinical trials." Jamas said.
 Jamas added that the Rhode Island Port Authority recently priced $30 million in taxable revenue bonds and the closing is expected to occur on or about Feb. 17. "With this financial support from the State of Rhode Island and the Rhode Island Port Authority, Alpha-Beta will be positioned to construct a commercial manufacturing facility while conserving equity capital for the development of our existing products and for new product discovery," he said.
 Alpha-Beta Technology, Inc. is developing patentable carbohydrate- based products for the health care industry through the application of carbohydrate engineering. The company's major products in development include Betafectin for the treatment and prevention of infections; Cholestran(tm) for the treatment and prevention of cardiovascular disease; and Fibercel(tm), a fat substitute. Alpha-Beta's headquarters, laboratory and pilot production facilities are located in Worcester, Mass.
 ALPHA-BETA TECHNOLOGY, INC. AND SUBSIDIARY
 Condensed COnsolidated Statement of Operations
 (unaudited)
 Years Ended
 Dec. 31
 1992 1991
 (Unaudited)
 Revenues:
 Product sales $ 23,245 $ 63,588
 Interest income 556,969 88,052
 Other income 3,509 3,996
 Total revenues 583,723 155,636
 Expenses:
 Research and
 development 4,555,218 2,460,690
 General and
 administrative 2,461,813 1,102,546
 Interest expense 83,373 34,512
 Total expenses 7,100,404 3,597,748
 Net loss $(6,516,681) $(3,442,112)
 Loss per share (84 cents) (53 cents)
 Shares used in
 calculation of
 net loss per
 share 7,715,051 6,528,546
 SELECTED CONSOLIDATED BALANCE SHEET DATA
 Dec. 31 Dec. 31
 1992 1991
 (Unaudited)
 Cash, cash
 equivalents,
 & short-term
 investments $23,810,781 $2,524,890
 Accounts receivable 7,494 8,964
 Other current assets 364,065 28,097
 Total current assets 24,182,340 2,561,951
 Long-term investments 997,648 ---
 Property and equipment,
 net 3,204,947 365,594
 Other assets, net 515,852 398,488
 Total assets $28,900,787 $3,326,033
 Current liabilities $2,207,459 $741,306
 Non-current liabilities 543,042 7,433,408
 Stockholders' equity 26,150,286 (4,848,681)
 Total liabilities &
 stockholders' equity $28,900,787 $3,326,033
 -0- 2/11/93
 /CONTACT: Spiros Jamas, Sc.D., president and CEO of Alpha-Beta Technology, 508-798-6900; or Robert Gottlieb, senior vice president of Feinstein Partners, 617-577-8110, for Alpha-Beta Technology/
 (ABTI)


CO: Alpha-Beta Technology, Inc. ST: Massachusetts IN: MTC SU: ERN

CH -- NE001 -- 5520 02/11/93 08:32 EST
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Date:Feb 11, 1993
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