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DEPRENYL USA, INC. REPORTS RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPT. 30, 1992; EXPECTS TO FILE ITS FIRST INVESTIGATIONAL NEW DRUG

DEPRENYL USA, INC. REPORTS RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPT. 30, 1992; EXPECTS TO FILE ITS FIRST INVESTIGATIONAL NEW DRUG
 PARSIPPANY, N.J., Nov. 9 /PRNewswire/ -- Deprenyl USA Inc. (NASDAQ: DUSA; DUSAW warrants) a development stage pharmaceutical company today reported interest income of $216,864 and $639,600 for the three and nine month periods ended Sept. 30, 1992, earned from the proceeds of the company's initial public offering in late January 1992.
 Operating expenses of $494,191 in the current quarter and $1,363,321 for the nine months ended Sept. 30 largely reflect the company's investment in its new drug development program for ALA Photodynamic Therapy (PDT). The latter is a potential new treatment for superficial skin cancers, pre-cancers and psoriasis.
 As a result of these planned expenditures, the company reported a net loss for the quarter ending Sept. 30, 1992, of $264,406, or $0.05 per share on an average of 5,075,000 shares outstanding. For the nine month period ended Sept. 30, 1992, the loss was $704,633 or $0.14 per share on the 4,907,117 average number of shares outstanding. Comparisons with prior-year periods are provided for reference and completeness as drug development expenses only began in the current year.
 The company had shareholders' equity of $15,554,428 at Sept. 30, 1992, invested primarily in U.S. Treasury Notes and Treasury Bills.
 Dr. Geoffrey Shulman, president and CEO said, "Operations are progressing according to plan and on budget. I am pleased to report that we are enlarging our first Investigational New Drug (IND) submission to the United States Food & Drug Administration (FDA) to now include psoriasis as well as actinic keratoses." This submission is expected to be filed in late fall 1992.
 During the third quarter, the company completed an option agreement on a new series of compounds for PDT that offer potential treatment for large or hidden internal cancers. The option agreement covers a worldwide license and is exercisable during the initial two-year period. Thereafter, an extended term is available under certain conditions.
 Dr. Shulman also announced the appointment of O'Connor, Biro & Associates of Chicago as investor relations advisors to the company.
 Deprenyl USA, Inc., is a development stage company established to develop prescription pharmaceutical products for worldwide markets, initially the United States and Canada, primarily in the field of Photodynamic Therapy. PDT combines the use of pharmaceutical products with exposure to light to induce a therapeutic effect. The company is initially developing ALA PDT for dermatological indications such as pre- cancerous actinic keratoses, basal cell skin cancers and psoriasis.
 DEPRENYL USA INC.
 (All figures in U.S. dollars and unaudited)
 Periods ended Three months Nine months
 Sept. 30 1992 1991 1992 1991
 Interest income $216,864 $11,408 $639,600 $11,408
 Operating expenses 494,191 7,683 1,363,321 7,683
 Net profit (loss) (264,406) 2,881 (704,633) 2,881
 Loss per share $(0.05) -- $(0.14) --
 -0- 11/9/92
 /CONTACT: D. Geoffrey Shulman, M.D., president and CEO (Toronto), 416-537-1070, or 416-537-4372, or fax, 416-537-1653, or Joseph P. Castelli, vice president, 201-299-9070, or fax, 201-335-0372, both of Deprenyl USA; or Jim Tolan, senior vice president of O'Connor Biro & Associates, 708-498-2284, or fax, 708-498-3144/
 (DUSA) CO: Deprenyl USA Inc. ST: New Jersey IN: MTC SU: ERN


CK -- NY048 -- 8612 11/09/92 10:41 EST
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Date:Nov 9, 1992
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