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RIBI IMMUNOCHEM REPORTS 1991 FINANCIAL RESULTS

 RIBI IMMUNOCHEM REPORTS 1991 FINANCIAL RESULTS
 HAMILTON, Mont., Jan. 28 /PRNewswire/ -- Ribi ImmunoChem Research


Inc. (NASDAQ: RIBI) announced today its financial results for the fourth quarter and year ended Dec. 31, 1991.
 Sales for the fourth quarter ended Dec. 31, 1991, increased 35 percent, achieving $230,443, as compared to $170,874 in the comparable period in 1990. Total revenues for the quarter ended Dec. 31, 1991, increased 45 percent as a result of higher sales and higher interest income, achieving $378,364, as compared to $261,507 for the comparable period in 1990.
 The net loss for the fourth quarter ended Dec. 31, 1991, was $847,399, or 7 cents per share, compared to a net loss of $935,919, or 10 cents per share, for the fourth quarter of 1990.
 Sales for the year ended Dec. 31, 1991, achieved $880,647, as compared to $918,782 in the comparable period in 1990. Total revenues for the year ended Dec. 31, 1991, achieved $1,385,699, as compared to $1,316,816 for the comparable period in 1990.
 The net loss for the year ended Dec. 31, 1991, was $3,217,388, or 31 cents per share, compared to a net loss of $2,714,797, or 31 cents per share for 1990.
 "The net loss largely reflects aggressive spending on product research and human clinical development made possible by cash infusions totaling $9.24 million in 1991," said Robert E. Ivy, chief executive officer, president and chairman. "The $9.24 million raised our cash position by more than 226 percent from the end of the first quarter and by more than 163 percent over the 1990 year-end position."
 RIBI IMMUNOCHEM RESEARCH INC.
 SUMMARY OF OPERATIONS
 Three Months Year
 Ended Dec. 31: 1991 1990 1991 1990
 (unaudited)
 Revenues:
 Sales $ 230,443 $ 170,874 $ 880,647 $ 918,782
 License and option fees -- -- 60,000 --
 Investment and other 147,921 90,633 445,052 398,034
 Total 378,364 261,507 1,385,699 1,316,816
 Costs and expenses 1,225,763 1,197,426 4,603,087 4,031,613
 Net loss $ (847,399)$ (935,919)$(3,217,388)$(2,714,797)
 Loss per common
 share $ (0.07)$ (0.10)$ (0.31)$ (0.31)
 Average number
 of shares
 outstanding 11,631,304 8,935,518 10,274,155 8,797,549
 CONDENSED BALANCE SHEETS
 Dec. 31: 1991 1990
 Current assets, principally cash and
 short-term investments $11,061,751 $ 4,562,929
 Property, plant and equipment, net 3,775,658 3,961,835
 Other assets, net 441,443 427,724
 Total $15,278,852 $ 8,952,488
 Current liabilities $ 412,514 $ 444,683
 Long-term debt -- --
 Shareholders' equity 14,866,338 8,507,805
 Total $15,278,852 $ 8,952,488
 -0- 1/28/92
 /CONTACT: Vern D. Child or Jeffrey S. McDowell of Ribi ImmunoChem Research, 406-363-6214/
 (RIBI) CO: Ribi ImmunoChem Research Inc. ST: Montana IN: MTC SU: ERN


SC-LM -- SE012 -- 4327 01/28/92 14:48 EST
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Date:Jan 28, 1992
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