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MYCOGEN ANNOUNCES THIRD QUARTER RESULTS

 MYCOGEN ANNOUNCES THIRD QUARTER RESULTS
 SAN DIEGO, Oct. 22 /PRNewswire/ -- Mycogen Corp. (NASDAQ: MYCO)


today reported third quarter revenues of $12,513,000 for the period ended Sept. 30, 1992, compared to $10,032,000 in the same period last year. Net loss was $1,533,000 or $.11 per share, compared to net income of $415,000, or $.03 per share, for the same period in 1991.
 For the nine months ended Sept. 30, 1992, revenues were $32,265,000, compared to $17,211,000 for the same period last year. The net loss increased to $2,972,000 or $.21 per share, compared to $1,389,000, or $.12 per share last year.
 Overall operating revenue increased primarily due to the inclusion of the operating results of Soilserv, acquired in August 1991. This was partially offset by a decrease in contract revenues due to the expiration of certain research agreements.
 Cost of operating revenues and selling, general and administrative expenses increased for the three and nine months ended Sept. 30, 1992, as compared to last year due to the increased costs associated with Soilserv. Research and development costs declined as a result of the cost efficiencies obtained from the consolidation of the Ruston, La., research facility, as well as a reduction in Cellcap(R) process development costs. In addition, the company incurred a one-time charge of $2,094,000 or $.15 per share as a result of the previously disclosed settlement of a patent dispute.
 "Overall, we were pleased with the operating results of the company," said James R. Glynn, executive vice president of Mycogen. "Although the financial impact of the patent settlement put us in a loss position for the quarter, settling the dispute allows us to move forward and concentrate on our goal of becoming a leader in applying genetic engineering techniques to enhance crop production."
 Mycogen Corp. develops, manufactures and markets biopesticides as alternatives to chemical pesticides to control a variety of insects, weeds and other pests. Mycogen's biopesticide products are based on natural agents such as microorganisms and fatty acid compounds which are compatible with the environment. The company develops its products through the application of genetic engineering technology and innovative formulations.
 MYCOGEN CORP.
 Consolidated Statements of Operations
 (Unaudited; in thousands except shares and per share amounts)
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues:
 Net operating
 revenues $11,394 $7,705 $26,789 $9,444
 Contract revenue 300 1,160 1,303 3,740
 Interest and other
 income 819 1,167 4,173 4,027
 Total revenues 12,513 10,032 32,265 17,211
 Costs and expenses:
 Cost of operating
 revenues 6,837 4,655 17,578 5,959
 Research and
 development 2,017 2,409 6,407 7,453
 Selling, general
 and administrative 2,767 2,373 8,206 4,874
 Amortization of
 intangible assets
 and other 331 180 952 314
 Patent litigation
 settlement 2,094 --- 2,094 ---
 Total costs and
 expenses 14,046 9,617 35,237 18,600
 Net income (loss) ($1,533) $415 ($2,972) ($1,389)
 Net income (loss)
 per common share ($0.11) $0.03 ($0.21) ($0.12)
 Weighted average
 number of
 shares 14,457,570 12,853,749 14,417,102 11,818,861
 MYCOGEN CORP.
 Consolidated Balance Sheets
 (Unaudited, in thousands)
 Sept. 30, Dec. 31,
 1992 1991
 Assets:
 Cash and short-term cash
 investments $66,622 $75,835
 Other current assets 10,439 5,929
 Net property, plant and equipment 15,391 15,882
 Net intangible assets 17,094 15,008
 Deposits and other assets 2,726 1,886
 Total assets $112,272 $114,540
 Liabilities and stockholders'
 equity:
 Current liabilities $6,858 $7,529
 Stockholders' equity 105,414 107,011
 Total liabilities and
 stockholders' equity $112,272 $114,540
 -0- 10/22/92
 /CONTACT: James R. Glynn, executive VP and CFO, or Marie C. Burke, investor relations, of Mycogen, 619-453-8030/
 (MYCO) CO: Mycogen Corp. ST: California IN: CHM SU: ERN


JL-KJ -- SD002 -- 3310 10/22/92 08:41 EDT
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