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SPECTRASCIENCE REPORTS FIRST QUARTER RESULTS, CLINICAL PROGRESS

 MINNEAPOLIS, May 7 /PRNewswire/ -- SpectraScience (NASDAQ: SPSC) today announced a net loss of $1,068,948, or 9 cents per share, for its first quarter ended Mar. 31, 1993. The results compare with a net loss of $912,460, equivalent to 12 cents per share, for the 1992 first quarter. Revenue was $31,364, compared with $116,894 for the same period a year ago.
 The company announced in October 1992 that it was focusing its development efforts on a diagnostic system using laser induced fluorescence to identify and characterize vascular disease. A system consisting of a control console utilizing a 337 nm wavelength laser and a disposable "smart" diagnostic guidewire is currently undergoing clinical trials.
 SpectraScience designs, develops, manufactures and markets laser- enhanced systems for the diagnosis and treatment of cardiovascular disease. The laser diagnostic system currently is the main focus of the company's development efforts. SpectraScience is based in Minneapolis.
 SpectraScience, Inc.
 Statement of Operations
 (unaudited)
 Three Months Ended
 March 31,
 1993 1992
 Revenues $ 31,364 $116,894
 Cost of products sold 58,523 154,588
 Expenses:
 Research & development 702,181 431,689
 Selling, general and
 administrative 378,315 464,566
 Less interest and other
 (income) and expense (38,707) (21,489)
 Total expenses 1,041,789 874,766
 Net loss ($1,068,948) ($912,460)
 Net loss per share ($.09) ($.12)
 Weighted average common share 11,809,233 7,781,907
 -0- 5/7/93
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen, 612-371-0000 or Tom Ahmann of SpectraScience, 612-559-4000/
 (SPSC)


CO: SpectraScience ST: Minnesota IN: SU: ERN

DS -- MN007 -- 5852 05/07/93 10:19 EDT
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Publication:PR Newswire
Date:May 7, 1993
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