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ECOGEN REPORTS SECOND QUARTER AND SIX MONTH RESULTS

 ECOGEN REPORTS SECOND QUARTER AND SIX MONTH RESULTS
 LANGHORNE, Pa., Aug. 13 /PRNewswire/ -- Ecogen Inc. (NASDAQ: EECN)


today announced its financial results for the second quarter and six months ended June 30, 1992.
 Total revenues for the quarter increased to $2,346,000, from $1,781,000 for the same period in 1991. Revenues from products sales jumped to $953,000, up almost 150 percent from the same period last year. Net loss for the quarter increased to $2,862,000 or ($0.17) per share on 16,925,000 shares, compared with $1,351,000 or ($0.11) per share on 12,829,000 shares for the same quarter in 1991. The current quarter includes operating expenses, primarily research and development, of Ecogen Israel and Ecogen Australia, which are recent acquisitions. The 1991 quarter includes one-time license income of $350,000.
 Revenues for the six months ended June 30, 1992 were $3,847,000 exceeding revenues of $3,467,000 for the six months ended June 30, 1991. Revenues from product sales increased 65 percent to $1,090,000 from $660,000 in 1991. Net loss for the period was $5,788,000 or ($0.34) a share on 16,818,000 shares compared to $2,850,000 or ($0.23) a share on 12,535,000 shares, for the same period last year. The current period includes a special charge of $787,000 or $0.05 per share relating to the acquisition of Ecogen Australia in the second quarter. In addition, the 1991 period includes income of $1,075,000 in one-time licensing fees from Roussel-Uclaf and Pioneer Hi-Bred.
 "Condor(R) bioinsecticide was very successfully introduced into the cotton market in the second quarter. In fact, we believe Condor has now captured the number one market share position for a bioinsecticide in the cotton market, a new and rapidly growing opportunity. As a result, Ecogen continues to experience solid growth in product sales," said John E. Davies, chairman and chief executive officer. "At the same time, we continue to invest heavily in expanding and diversifying our product portfolio to ensure that Ecogen remains on the cutting edge of biopesticide technology."
 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 bioinsecticide for vegetables, cotton, and soybeans; Foil(R) potato bioinsecticide; Otinem(TM) bioinsecticides 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.
 NOTE: Cutlass, Condor, Foil and Collego are trademarks of Ecogen Inc.
 ECOGEN INC. AND SUBSIDIARIES
 Condensed Statement of Operations
 (Amounts in thousands, except per share data)
 Periods ended Quarter Six months
 June 30, 1992 1991 1992 1991
 Revenues
 Contract revenue $1,140 $ 934 $2,140 $1,496
 Product sales 953 389 1,090 660
 License income 20 350 135 1,075
 Interest income 233 108 482 236
 Total revenues 2,346 1,781 3,847 3,467
 Costs and Expenses
 Cost of products sold 660 313 760 520
 Operating expenses 4,548 2,819 8,088 5,797
 Purchased technology -- -- 787 --
 Total costs and
 expenses 5,208 3,132 9,635 6,317
 Net loss $(2,862) $(1,351) $(5,788) $(2,850)
 Net loss per
 common share $(0.17) $(0.11) $(0.34) $(0.23)
 Wtd. avg. common
 shares outstg. 16,925 12,829 16,818 12,535
 Condensed Balance Sheets
 6/30/92 6/30/91
 Assets
 Cash, cash equivalents
 and temporary investments $24,383 $16,079
 Other current assets 4,500 2,517
 Furniture, equipment and
 leasehold improvements 1,243 1,182
 Purchased proprietary tech. 47 123
 Other assets 1,097 266
 Total assets $31,270 $20,167
 Liabilities and stockholders'
 equity
 Notes payable, current -- 1,000
 Other current liabilities
 and deferred revenue 4,728 3,342
 Stockholders' equity 26,542 15,825
 Total liabilities and
 stockholders' equity $31,270 $20,167
 -0- 8/13/92
 /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 (media) of Noonan/Russo Communications, 212-979-9180, for Ecogen/
 (EECN) CO: Ecogen Inc. ST: Pennsylvania IN: MTC SU: ERN


SM-SH -- NY012 -- 9545 08/13/92 10:50 EDT
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