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ALTEON REPORTS FINANCIAL RESULTS FOR THE SECOND QUARTER ENDED JUNE 30, 1993

 NORTHVALE, N.J., July 19 /PRNewswire/ -- Alteon Inc. (NASDAQ: ALTN) announced investment income of $1,241,000 and a net loss of $3,115,000 or $.25 per share for the six months ended June 30, 1993 in line with expectations. This compares to investment income of $1,593,000 and a net loss of $1,871,000 or $.16 per share for the same period in 1992. The net loss increased primarily as a result of increased research and development expenses and a decrease in investment income due to lower interest rates. Cash, cash equivalents and short-term investments at June 30, 1993 totaled $54.9 million.
 Interest income for the three months ended June 30, 1993 was $641,000, and a net loss of $1,859,000 or $.15 per share. This compares to investment income of $756,000 and a net loss of $1,003,000 or $.08 per share for the same period in 1992.
 Alteon is engaged in the discovery and development of products for the detection and treatment of the complications of diabetes and aging. These products are designed to inhibit, reverse and measure damage to cells, tissues and organs caused by advanced glycosylation end-products (A.G.E.s) formed as a result of glucose in the body's circulatory system.
 ALTEON INC.
 Condensed Statement of Operations
 (Unaudited - Dollars in thousands except per share amounts)
 Period ended Six months Three months
 June 30 1992 1993 1992 1993
 Revenues $1,593 $1,241 $ 756 $ 641
 Net loss (1,871) (?3,115) (1,003) (1,859)
 Net loss per share (.16) (.25) (.08) (.15)
 Average shares
 outstanding 12,029,993 12,278,947 12,074,870 12,338,845
 Selected Balance Sheet Data
 12/31/92 6/30/93
 (Unaudited)
 Cash and investments $58,656 $54,919
 Total assets 60,554 57,534
 Cumulative deficit (4,362) (7,478)
 Shareholders' equity 59,690 56,639
 -0- 7/19/93
 /CONTACT: Charles A . Faden, president and CEO of Alteon Inc., 201-784-1010, or Anthony J. Russo of Noonan/Russo Communications, Inc., 212-979-9180, for Alteon Inc./
 (ALTN)


CO: Alteon Inc. ST: New Jersey IN: MTC SU: ERN

MP-OS -- NY061 -- 3077 07/19/93 13:04 EDT
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Date:Jul 19, 1993
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