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ONCOGENE SCIENCE REPORTS SECOND QUARTER RESULTS

    UNIONDALE, N.Y., Aug. 13 /PRNewswire/ -- Oncogene Science, Inc. (NASDAQ: ONCS) today announced revenues of $4,078,699 for the third quarter ending June 30, 1993, an increase of 38 percent from the $2,945,684 reported or the third quarter last year.  The company had a net loss of $1,061,675, or $(.07) per share, compared to a net loss of $1,144,615, or $(.08) per share, for the same period last year.  For the nine months ended June 30, 1993, the company had a net loss of $2,968,789 on operating revenues of $11,159,080 compared to a net loss of $3,225,785 on operating revenues of $8,185,048 for the same period a year ago.
    Oncogene Science, Inc. is a biopharmaceutical company, which uses its proprietary gene transcription technology to develop products for the treatment of cancer, cardiovascular and other diseases involving cell regulation.
                ONCOGENE SCIENCE, INC. AND SUBSIDIARIES
                  Selected Consolidated Financial Data
    Periods ended            Three Months           Nine Months
     June 30               1993         1992      1993         1992
    Revenues          $4,078,699   $2,945,684  $11,159,080  $8,185,048
    Net loss          (1,061,675)  (1,144,615)  (2,968,789) (3,225,785)
    Loss per share          (.07)        (.08)        (.19)       (.22)
                               June 30, 1993           Sept. 30, 1992
    Cash and short term
     investments                 24,893,900               18,897,238
    Working capital              26,652,371               22,363,383
    Total assets                 47,759,197               43,930,705
    Stockholders' equity         45,365,082               41,960,868
    -0-             08/13/93
    CONTACT:  Robert L. Van Nostrand, vice president - finance and administration, 516-222-0023
    (ONCS) CO:  ONCOGENE SCIENCE, INC. IN:  MTC SU:  ERN ST:  NY


-- NY009 -- X527 08/13/93
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Publication:PR Newswire
Date:Aug 13, 1993
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