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ECOGEN REPORTS FIRST QUARTER RESULTS

 ECOGEN REPORTS FIRST QUARTER RESULTS
 LANGHORNE, Pa., May 18 /PRNewswire/ -- Ecogen Inc. (NASDAQ: EECN)


today announced its financial results for the first quarter ended March 31, 1992.
 Total revenues for the quarter were $1,501,000 compared with $1,686,000 for the same period in 1991. Net loss for the quarter increased to $2,926,000 or $(0.18) per share on 16,712,000 shares, compared with $1,499,000 or ($0.12) per share on 12,239,000 shares for the same quarter in 1991. The current quarter includes a special charge of $787,000 of $.05 per share relating to the purchase of the nematode technology in March 1992. In addition, the 1991 quarter includes income of $725,000 from a one-time licensing fee from the Roussel Uclaf transactions.
 "During the first quarter, we saw a below average use of insecticides as states like Florida suffered through a prolonged cold spell, which resulted in less than normal levels of insect pressure," said John E. Davies, chairman and chief executive officer. "In April, however, we saw a significant rebound with North American shipments of our bioinsecticides reaching their highest levels ever, a trend that is continuing into May."
 Ecogen Inc. is an agricultural biotechnology company specializing in biological pest control. Ecogen has developed and is marketing a number of novel and proprietary biopesticides, including Cutlass(R) bioinsecticide for vegetables, and tree, nut and vine crops, Condor(R) bioinsecticide for vegetables, cotton, and soybeans, Foil(R) potato bioinsecticide, Otinem(TM) bioinsecticide and Collego(R) rice bioherbicide. The company is also developing products for corn, home/garden and ornamental use as well as biofungicides including products for the control of powdery mildew and post harvest rot diseases.
 ECOGEN INC. AND SUBSIDIARIES
 (Amounts in thousands except per share data)
 Condensed Statements of Operations
 Quarter ended March 31 1992 1991
 Revenues
 Contract revenue $1,000 $ 562
 Product sales 137 271
 License income 115 725
 Interest income 249 128
 Total revenues 1,501 1,686
 Costs and expenses
 Cost of products sold 100 207
 Operating expenses 3,540 2,978
 Purchased technology 787 --
 Total costs and expenses 4,427 3,185
 Net loss (2,926) (1,499)
 Net loss per common share (0.18) (0.12)
 Weighted average common shares outstanding 16,712 12,239
 Condensed Balance Sheets
 Quarter ended March 31 1992 1991
 Assets
 Cash and cash equivalents $ 8,008 $ 3,577
 Temporary investments 13,513 3,066
 Inventory and other current assets 3,264 1,445
 Furniture, equipment and leasehold
 improvements 1,314 1,308
 Other assets 326 426
 Total assets 26,425 9,822
 Liabilities and Stockholders' Equity
 Note payable, current -- 1,000
 Other current liabilities and
 deferred revenue 2,930 2,575
 Stockholders' equity 23,495 6,247
 Total liabilities and stockholders' equity 26,425 9,822
 NOTE: Cutlass, Condor, Foil, and Collego are registered trademarks of Ecogen Inc.
 -0- 5/18/92
 /CONTACT: Peter B. Stevens, vice president and CFO of Ecogen, 215-757-1590; Donald C. Weinberger (investors) of Strategic Growth International, 212-826-9622; or Anthony J. Russo of Noonan/Russo Communications, 212-979-9180, for Ecogen/
 (EECN) CO: Ecogen Inc. ST: Pennsylvania IN: CHM SU: ERN


SH-OS -- NY062 -- 1424 05/18/92 15:15 EDT
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Date:May 18, 1992
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