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CYTOGEN CORPORATION ANNOUNCES THIRD QUARTER RESULTS

 CYTOGEN CORPORATION ANNOUNCES THIRD QUARTER RESULTS
 PRINCETON, N.J., Oct. 20 /PRNewswire/ -- Cytogen Corporation


(NASDAQ: CYTO) today reported total revenues for the 13-week period ended Sept. 26, 1992. of $3.0 million as compared to $3.6 million reported for the comparable period in 1991 when a one-time milestone payment of $2.0 million from EuroCetus was recorded.
 The current quarter's revenues included $2.0 million from the sale of research services of which $1.5 million was generated from Cytorad (NASDAQ: CYTDZ), and $0.9 million was realized from interest income. Product related revenues were negligible in the third quarter as the company, through its European distributor, EuroCetus, initiated an expanded medical education program focused on nuclear medicine specialists. For the 39-week period ended Sept. 26, 1992, revenues of $11.7 million, of which $7.0 million was attributable to Cytorad, were significantly above the $5.8 million recorded during the same period of 1991.
 The net loss for the 13-week period ended Sept. 26, 1992, was $4.9 million as compared to $2.8 million incurred during the same period in 1991. The loss per common share in 1992 was $0.29 on 18.4 million average shares outstanding in comparison to $0.18 per share on 18.3 million average shares outstanding for the same period in 1991. For the 39-week period ended Sept. 26, 1992, the net loss of $10.3 million was 16 percent below the $12.3 million loss that was recorded in the same period of 1991. The loss per common share was $0.63 on 18.4 million average shares outstanding as compared to $0.80 per share on 17.0 million average shares outstanding for the comparable period in 1991.
 Cytogen is a biopharmaceutical company engaged in the development of products utilizing monoclonal antibodies for the targeted delivery of diagnostic and therapeutic substances directly to sites of disease. Cytogen uses its patented and proprietary antibody "linker" technology primarily to develop specific cancer diagnostic imaging and cancer therapeutic products.
 Cytorad is a public corporation recently formed specifically to acquire licenses to Cytogen's prostate and bladder cancer products which it did in 1992 immediately following its initial public offering.
 CYTOGEN CORPORATION
 Third Quarter Ended Sept. 26, 1992
 (Unaudited; all amounts in thousands except per share data)
 CONDENSED BALANCE SHEET
 Sept. 26, 1992 Dec. 28, 1991
 Assets:
 Cash and
 short-term investments $41,139 $54,506
 Other current assets 3,637 3,325
 Inventory 3,769 1,668
 Property and equipment 5,545 4,872
 Other assets 97 100
 Total Assets $54,187 $64,471
 Liabilities & Stockholders' Equity:
 Current Liabilities $5,234 $6,115
 Deferred Charges 299 346
 Preferred Stock 17,245 17,250
 Redeemable Common Stock 2,000 2,000
 Common stock and
 accumulated deficit 29,409 38,760
 Total liabilities and
 stockholders' equity $54,187 $64,471
 CONDENSED STATEMENT OF OPERATIONS
 Periods ended 13 weeks 39 Weeks
 9/26/92 9/28/91 9/26/92 9/28/91
 Total revenues $2,968 $3,608 $11,683 $5,843
 Operating expenses 7,832 6,379 22,013 18,137
 Net loss $(4,864) $(2,771) $(10,330) $(12,294)
 Net loss per
 common shares $(0.29) $(0.18) $(0.63) $(0.80)
 Weighted average
 common shares
 outstanding 18,433 18,270 18,406 17,034
 /delval/
 -0- 10/20/92
 /CONTACT: Martin D. Cleary, group vice president of Cytogen, 609-987-8221/
 (CYTO) CO: Cytogen Corporation ST: New Jersey IN: MTC SU: ERN


CC -- PH002 -- 2068 10/20/92 09:43 EDT
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Date:Oct 20, 1992
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