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CAMBRIDGE BIOTECH ANNOUNCES SHELF REGISTRATION AND DISCUSSES FOURTH QUARTER RESULTS

 WORCESTER, Mass., Jan. 5 /PRNewswire/ -- Cambridge Biotech Corporation (NASDAQ: CBCX) today announced that the Securities and Exchange Commission has recently declared effective a shelf registration of four million shares of Cambridge common stock. In connection with anticipated discussions with prospective investors, which may include purchasers of a portion of these registered shares, the company is issuing a preliminary view of 1993 results.
 James C. Bass, chief financial officer, said he expects to see a "substantial" loss in the fourth quarter. "While we don't have final numbers yet, we do know we will have a loss from operations," noting that diagnostic product sales fell short of management's internal projections. Bass added that revenue in the Biopharmaceuticals Division was higher than in the two preceding quarters, but not enough to bridge the gap. "We also expect to take significant one-time charges in the fourth quarter principally as a result of asset revaluation and inventory obsolescence."
 Patrick J. Leonard, chief executive officer of Cambridge, added that the company is "actively pursuing a number of measures to improve results and reduce cash requirements, while maximizing the potential of both the Biopharmaceuticals and Diagnostics Divisions."
 Cambridge Biotech Corporation is a therapeutics and diagnostics company involved in infectious diseases. The company is developing vaccines, adjuvants and diagnostics for humans and animals.
 -0- 1/5/94
 /CONTACT: Frederick V. Casselman, vice president legal affairs & technology licensing, 508-797-5777, ext. 507; or Alyson Button Stone, coordinator of investor relations, 508-797-5777, ext. 541, of Cambridge Biotech/
 (CBCX)


CO: Cambridge Biotech Corporation ST: Massachusetts IN: MTC SU: ERP

JL-CM -- NE004 -- 9287 01/05/94 10:59 EST
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Publication:PR Newswire
Date:Jan 5, 1994
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