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RIBI IMMUNOCHEM REPORTS 1992 FINANCIAL RESULTS

 HAMILTON, Mont., Feb. 5 /PRNewswire/ -- Ribi ImmunoChem Research Inc. (NASDAQ: RIBI) announced today its financial results for the fourth quarter and year ended Dec. 31, 1992.
 Total revenues for the fourth quarter ended Dec. 31, 1992, increased 40 percent as a result of higher investment income and license fees, achieving $529,864, as compared to $378,364 for the comparable period in 1991.
 The net loss for the fourth quarter ended Dec. 31, 1992, was $1,020,065, or 7 cents per share, as compared to a net loss of $847,399, or 7 cents per share, for the fourth quarter of 1991.
 Sales for the year ended Dec. 31, 1992, increased 27 percent, achieving $1,116,562, as compared to $880,647 in the comparable period in 1991. Total revenues for the year ended Dec. 31, 1992, increased 53 percent as a result of higher sales, investment income and license fees, achieving $2,116,506, as compared to $1,385,699 for the comparable period in 1991.
 The net loss for the year ended Dec. 31, 1992, was $3,602,926, or 27 cents per share, as compared to a net loss of $3,217,388, or 31 cents per share for the comparable period in 1991.
 "We are most gratified by the increased sales and license fees in 1992, which represent increasing interest by others in the commercial potential of our products," said Robert E. Ivy, chief executive officer, president and chairman. "Increased investment income, made possible by an $11-million equity infusion in the second quarter, and the increased sales and license fees, enabled us to pursue aggressively the clinical development necessary to bring our products to market. Our cash position at year-end 1992 represents a 71-percent increase compared to year-end 1991."
 RIBI IMMUNOCHEM RESEARCH INC.
 SUMMARY OF OPERATIONS
 Three Months Year
 Ended Dec. 31: 1992 1991 1992 1991
 (unaudited)
 Revenues:
 Sales $ 201,576 $ 230,443 $ 1,116,562 $ 880,647
 License and option
 fees 75,000 -- 135,000 60,000
 Investment and other 253,288 147,921 864,944 445,052
 Total 529,864 378,364 2,116,506 1,385,699
 Costs and expenses 1,549,929 1,225,763 5,719,432 4,603,087
 Net loss $(1,020,065) $ (847,399) $(3,602,926) $(3,217,388)
 Loss per common
 share $ (0.07) $ (0.07) $ (0.27) $ (0.31)
 Average number
 of shares
 outstanding 13,883,640 11,631,304 13,249,853 10,274,155
 CONDENSED BALANCE SHEETS
 Dec. 31: 1992 1991
 Current assets, principally cash and
 short-term investments $ 8,756,774 $ 7,300,902
 Long-term investments 9,905,440 3,760,849
 Property, plant and equipment, net 4,279,413 3,775,658
 Other assets, net 426,098 441,443
 Total $23,367,725 $15,278,852
 Current liabilities $ 577,806 $ 412,514
 Long-term debt -- --
 Shareholders' equity 22,789,919 14,866,338
 Total $23,367,725 $15,278,852
 -0- 2/5/93
 /CONTACT: Vern D. Child, vice president - Finance, or Jeffrey S. McDowell, corporate information manager, of Ribi ImmunoChem, 406-363-6214/
 (RIBI)


CO: Ribi ImmunoChem Research Inc. ST: Montana IN: MTC SU: ERN

SW-LM -- SE001 -- 3440 02/05/93 10:18 EST
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Date:Feb 5, 1993
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