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IMMULOGIC REPORTS FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS

 IMMULOGIC REPORTS FOURTH QUARTER AND YEAR-END FINANCIAL RESULTS
 CAMBRIDGE, Mass., Feb. 12 /PRNewswire/ -- ImmuLogic Pharmaceutical Corporation (NASDAQ: IMUL) reported today financial results for the fourth quarter and year ended Dec. 31, 1991. For the 12-month period, revenues were $4,604,000 compared to $4,712,000 in 1990. Net losses for the year were $9,941,000, or $1.20 per share, compared to $6,043,000, or 89 cents per share, in 1990.
 Fourth quarter revenues were $1,259,000 compared to $1,107,000 in the fourth quarter of 1990. There was a net loss of $3,367,000, or 36 cents per share, compared to $2,347,000, or 35 cents per share, in the final three months of 1990.
 "Several key events highlighted 1991, including our major collaboration agreement with Marion Merrell Dow to commercialize ImmuLogic's ALLERAX(tm) allergy therapeutics, and our two successful public offerings that raised $66.3 million," commented Richard Bagley, president and CEO of ImmuLogic. "We are now well positioned to begin our human clinical program for CATVAX(tm) and to continue to pursue research and preclinical development of our other ALLERVAX allergy therapeutics." The company expects to submit an IND for CATVAX by the end of the first quarter.
 "In addition to initial CATVAX trials, we look forward in 1992 to continuing our collaboration with Merck & Co. to develop new treatments for Type I diabetes and rheumatoid arthritis," Bagley said.
 Bagley commented that the financial results for the quarter and the full year reflect increasing preclinical development activities related to the CATVAX product, as well as research and development on other ALLERVAX products and the company's ongoing collaborative research program with Merck. At Dec. 31, the company had $45.6 million in cash and short-term investments and the company received an additional $45.5 million upon the closing in January of its second public offering.
 ImmuLogic is developing products to treat allergies and autoimmune diseases. The company's technical approach is based upon proprietary discoveries and an advanced understanding of the molecular events controlling the human immune system. ImmuLogic is developing a family of ALLERVAX products to treat allergic diseases and the company has announced an agreement with Marion Merrell Dow Inc. to collaborate on the worldwide commercialization of these products. The company is also collaborating with Merck & Co. to development treatments for TYPE I diabetes and rheumatoid arthritis.
 IMMULOGIC PHARMACEUTICAL CORPORATION
 Comparative Financial Summary
 Dec. 31, 1991
 (Unaudited)
 (in thousands, except per share data)
 Three Months Twelve Months
 1991 1990 1991 1990
 Revenues:
 Sponsored research revenues $834 $801 $3,165 $3,265
 Interest income 425 306 1,439 1,447
 Total revenues 1,259 1,107 4,604 4,712
 Expenses:
 Sponsored research & development 862 739 3,233 2,920
 Proprietary research & development 2,523 1,174 7,836 4,315
 General and administrative 1,213 1,511 3,352 3,367
 Interest expense 28 30 124 153
 Total expenses 4,626 3,454 14,545 10,755
 Net loss $(3,367)$(2,347) $(9,941)$(6,043)
 Loss per common share $(.36) $(.35) $(1.20) $(.89)
 Weighted average number of
 common shares 9,388,284 6,802,792 8,284,499 6,803,303
 -0- 2/12/92
 /CONTACT: Janet C. Bush, vice president-finance and administration, of ImmuLogic, 617-494-0060/
 (IMUL) CO: ImmuLogic Pharmaceutical Corporation ST: Massachusetts IN: MTC SU: ERN


TM-SH -- NE015 -- 9348 02/12/92 15:14 EST
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Date:Feb 12, 1992
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