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CYGNUS THERAPEUTIC SYSTEMS ANNOUNCES POSTPONEMENT OF SECONDARY OFFERING

 CYGNUS THERAPEUTIC SYSTEMS ANNOUNCES POSTPONEMENT
 OF SECONDARY OFFERING
 REDWOOD CITY, Calif., April 20 /PRNewswire/ -- Cygnus Therapeutic Systems (NASDAQ: CYGN), announced today that it has postponed its 3,000,000 share secondary offering due to market conditions. The company filed a registration statement on March 5, 1992 with the Securities and Exchange Commission with respect to a proposed public offering of its Common Stock.
 "We will continue to monitor the market climate for growth stocks and expect to reinstate our offering when more favorable market conditions arise," according to Gregory B. Lawless, president and CEO. "The postponement will have no effect upon our plans to commercialize our products in a timely fashion."
 Cygnus is a leader in the development of advanced transdermal drug delivery systems, and has 203 employees located at its Redwood City headquarters. Cygnus's nicotine transdermal product, Nicotrol(TM), is in the final stages of review by the FDA and approval is expected during 1992. Two other products are in advanced clinical trials, an estradiol patch for the treatment of the symptoms of menopause and the prevention of osteoporosis, and a fentanyl patch for post-operative pain management. Cygnus Therapeutic Systems has 11 U.S. patents issued or allowed and over 300 applications worldwide covering its transdermal technology.
 -0- 4/20/92
 /CONTACT: Shirley Clayton of Cygnus, 415-369-4300/
 (CYGN) CO: Cygnus Therapeutic Systems ST: California IN: MTC SU:


MM-DG -- SF003 -- 9844 04/20/92 08:02 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
Words:237
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