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ARAMED REPORTS 1993 FIRST QUARTER RESULTS

 SAN DIEGO, May 7 /PRNewswire/ -- Aramed Inc. (NASDAQ: ARAMZ) today reported a net loss of $1.1 million, or $0.39 per callable common share, in the first quarter ended March 31, 1993, compared to a net loss of $557,000, or $0.19 per callable common share, in the 1992 first quarter.
 At March 31, 1993, Aramed had working capital of $45.8 million consisting primarily of cash, cash equivalents and short-term investments.
 Operating expenses were $1.6 million for the first quarter of 1993 and $1.0 million in the comparable 1992 period. These expenses consisted primarily of funds expended under a contract with Gensia Pharmaceuticals Inc. (NASDAQ: GNSA) to conduct research and development of second-generation adenosine regulating agents (ARAs). These expenses increased to $1.3 million in the first quarter of 1993 from $809,000 in the first quarter of 1992. General and administrative expenses of $224,000 in the first quarter of 1993 were approximately equal to expenses of $228,000 in the prior-year period. Interest income was $438,000 in the 1993 first quarter, compared to $480,000 in the first quarter of 1992.
 Aramed was formed to accelerate the discovery, research and development of certain compounds utilizing Gensia's ARA technology. Aramed has contracted with Gensia to conduct research and development in three programs areas: second-generation ARAs for use in the intravenous treatment of acute cardiovascular disorders, ARAs for the oral and intravenous treatment of certain seizure disorders and ARAs and adenosine agonists for the intravenous treatment of acute cerebrovascular disorders.
 ARAMED INC.
 Balance Sheet Data
 (1993 is without audit, in thousands)
 March 31, Dec. 31,
 1993 1992
 (unaudited)
 Assets:
 Current assets:
 Cash, cash equivalents
 & short-term investments $45,806 $46,959
 Other current assets 443 617
 Total assets $46,249 $47,576
 Liabilities and
 stockholders' equity:
 Current liabilities 442 655
 Stockholders' equity 45,807 46,921
 Total liabilities &
 stockholders' equity $46,249 $47,576
 ARAMED INC.
 Statement of Operations Data
 (Without audit, in thousands expect per share data)
 Three Months Ended
 March 31,
 1993 1992
 Interest income $438 $480
 Costs and expenses:
 Research and development 1,328 809
 General and administrative 224 228
 Total costs and expenses 1,552 1,037
 Net loss ($1,114) ($557)
 Net loss per callable
 common share ($.39) ($.19)
 Weighted average callable
 common shares outstanding 2,875 2,875
 -0- 5/7/93
 /CONTACT: Elizabeth A. Gard of Gensia Pharmaceuticals, 619-546-8300/
 (ARAMZ GNSA)


CO: Aramed Inc.; Gensia Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

TM-JL -- LAON2 -- 5806 05/07/93 09:03 EDT
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Date:May 7, 1993
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