COR THERAPEUTICS, INC. ANNOUNCES 1996 FINANCIAL RESULTS AND COMPLETION OF PURSUIT PATIENT ENROLLMENT.

SOUTH SAN FRANCISCO, Calif.--(BW HealthWire)--Jan. 27, 1996--

COR Therapeutics, Inc. (Nasdaq: CORR) announced today its financial results for the fiscal year ended December 31, 1996. The Company reported revenues for 1996 of $18,755,000 compared to $31,850,000 for 1995. Revenues for both periods resulted primarily from the collaborative arrangement with Schering-Plough Corporation entered into in April 1995, including a one-time license fee of $20,000,000 received in 1995. The net loss for 1996 was $36,546,000, or $1.86 per share, compared to $7,531,000, or $0.39 per share, for 1995. The increased net loss was due to increased research and development expenses, including expenses associated with the clinical development of INTEGRILIN(TM) (antithrombotic injection).

The Company also reported revenues for the fourth quarter of 1996 of $4,888,000, which includes a safety-related milestone payment of $3,000,000 pertaining to the conduct of clinical studies of the INTEGRILIN(TM) product, and a net loss for the same period of $9,805,000, or $0.49 per share. These results compare with revenues of $2,950,000 and a net loss of $9,560,000, or $0.49 per share, for the same period last year. At December 31, 1996, the Company had cash, cash equivalents and short-term investments of $53,134,000.

COR also announced the completion of patient enrollment in its PURSUIT study. This Phase III study is a randomized, double-blind clinical trial evaluating the safety and efficacy of the INTEGRILIN(TM) product in reducing mortality and myocardial (re)infarction in patients with unstable angina or non-Q wave myocardial infarction. PURSUIT enrolled approximately 11,000 patients in over 700 clinical sites in more than 25 countries. The data will be collected over the next several quarters.

COR Therapeutics, Inc. is dedicated to the discovery, development and commercialization of novel pharmaceutical products for the treatment and prevention of severe cardiovascular diseases. The INTEGRILIN(TM) product, COR's first product, is under regulatory review for marketing approval for use in the setting of coronary angioplasty and is also being studied for the treatment of unstable angina and acute myocardial infarction. COR has complementary product research and development programs that seek to address critical needs in severe cardiovascular care, including unstable angina, acute myocardial infarction, deep vein thrombosis and restenosis.

This press release contains forward-looking statements that are subject to risks and uncertainties. A full discussion of the Company's operations and financial condition, and specific factors that could cause the Company's actual performance to differ from current expectations, are discussed in the Company's Form 10-Q for the quarter ended September 30, 1996 and Report on Form 10-K for the year ended December 31, 1995, both filed with the SEC. -0-

COR THERAPEUTICS, INC.

Statements of Operations
(in thousands, except per share amounts)


                           Three Months Ended         Years Ended
                              December 31,            December 31,
                           1996         1995         1996      1995
                              (unaudited)
Revenues                $  4,888     $  2,950     $ 18,755   $ 31,850
Expenses:
   Research and
     development          13,673       11,958       50,791     37,392
   Marketing, general &
     administrative        1,687        1,458        7,303      6,029
      Total expenses      15,360       13,416       58,094     43,421

Loss from operations     (10,472)     (10,466)     (39,339)   (11,571)

Interest income              844        1,161        3,552      4,876

Interest expense            (177)        (255)        (759)      (836)

Net loss                $ (9,805)    $ (9,560)    $(36,546)  $ (7,531)

Net loss per share      $  (0.49)    $  (0.49)    $  (1.86)  $  (0.39)

Shares used in net
 loss per share           19,999       19,425       19,636     19,360

-0-

Condensed Balance Sheets
(in thousands)

                                       December 31,       December 31,
                                          1996              1995
Assets
   Cash, cash equivalents &
     short-term investments            $  53,134         $  84,834
   Other current assets                   11,064             7,995
      Total current assets                64,198            92,829
   Property and equipment, net             7,047             8,077
                                       $  71,245         $ 100,906

Liabilities and stockholders' equity
   Current liabilities                 $  17,438         $  14,095
   Long-term obligations                   3,365             4,574
   Stockholders' equity                   50,442            82,237
                                       $  71,245         $ 100,906

CONTACT: COR Therapeutics, Inc. Burns McClellan, Inc.

Laura A. Brege Justin Jackson (Media)

Jacquelyn A. Jeffries Jonathan M. Nugent (Investors)

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