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INTERFERON SCIENCES, INC. REPORTS FIRST QUARTER RESULTS

 INTERFERON SCIENCES, INC. REPORTS FIRST QUARTER RESULTS
 NEW BRUNSWICK, N.J., May 14 /PRNewswire/ -- Interferon Sciences, Inc. (NASDAQ-NMS: IFSC), today announced results for the first quarter ended March 31, 1992 (table follows). In making the announcement, the company reported higher revenues, resulting from sales of its ALFERON (R) N Injection pharmaceutical and a reduction in the net loss for the latest first quarter as compared to the first quarter of 1991.
 Commenting on the quarter, Samuel H. Ronel, Ph.D., president of Interferon Sciences, Inc. states, "We are truly pleased that the anticipated cost reduction in the production of ALFERON (R) N Injection, resulting from process improvements and new facility expansion approved last year by the Food and Drug Administration, is now beginning to materialize. This has enabled us to generate a favorable gross margin from the sale of this product for the second quarter in a row." In addition, Dr. Ronel stated, "We are pleased that during this quarter the Walter Reed Army Institute of Research commenced a Phase I clinical trial in asymptomatic HIV (Human Immunodeficiency Virus) infected patients utilizing the company's injectable formulation of interferon alfa-n3 (human leukocyte derived)."
 Interferon Sciences, Inc. is a biopharmaceutical company which manufactures the only Food and Drug Administration approved alpha interferon naturally derived from human leukocytes (white blood cells) and is the world's leading producer of white blood cell-derived alpha interferon. The product is manufactured and distributed under the trade name ALFERON (R). The company has other alpha interferon-based formulations in various stages of development for the potential treatment of viral and immune system diseases and cancer. Interferon Sciences, Inc. is a subsidiary of National Patent Development Corporation (AMEX: NPD)
 INTERFERON SCIENCES, INC.
 OPERATING RESULTS
 UNAUDITED
 Quarter Ended March 31,
 1992 1991
 Revenues $1,267,000 $15,000
 Net income (loss) (1,264,000) (1,474,000)
 Net income (loss) per share $ (.09) $ (.24)
 Weighted average shares used
 for per share amounts 14,235,000 6,244,000
 -0- 5/14/92
 /CONTACT: Stanley G. Schutzbank, Ph.D. of Interferon Sciences, 908-249-3250; or David G. Diamond of Strategic Growth International, 212-826-9622, for Interferon Sciences/
 (IFSC) CO: Interferon Sciences, Inc. ST: New Jersey IN: MTC SU: ERN


JB-AK -- NY023 -- 0112 05/14/92 10:22 EDT
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Publication:PR Newswire
Date:May 14, 1992
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