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ZONAGEN REPORTS THIRD QUARTER, NINE MONTHS 1993 FINANCIAL RESULTS

 THE WOODLANDS, Texas, Nov. 15 /PRNewswire/ -- Zonagen, Inc. (NASDAQ: ZONA) today reported a net loss of $584,807, or $.17 per share, for the quarter ended Sept. 30, 1993, compared to a net loss of $498,676, or $.26 per share, for the same quarter a year earlier. For the nine months ended Sept. 30, 1993, Zonagen reported a net loss of $1,545,290, or $.53 per share, compared to a net loss of $1,284,243, or $.68 per share, for the same period in 1992.
 "One of the highlights of the third quarter was the publication of an important study by one of our scientific advisors that identified for the first time the DNA sequence of a key protein comprising the zona pellucida. The study also identified similarities among the zona pellucida protein structure of various species, a factor which could facilitate the development of immunocontraceptive agents for many species, including humans," said Joseph S. Podolski, Zonagen's president. "We believe this study and a series of related studies being conducted by Zonagen's scientific team will provide new insight into the reproductive process and may serve as the basis for the development of a new class of contraceptives that utilize the body's natural immune system."
 Discussing other corporate milestones during the quarter Podolski added, "We completed the expansion of our laboratory facilities in The Woodlands, increasing our research facilities by more than 60 percent. This new lab space is designed to accommodate our immunologic research team, augmented by three senior immunologists at the close of the second quarter. We are also pleased to announce that Louis Ploth, Jr., formerly chief financial officer and vice president, Finance and Administration for Unisyn Technologies, has joined Zonagen as Chief Financial Officer."
 Zonagen is engaged in the development of products for reproductive health. The company's first products will originate from its proprietary and patented technology relating to the zona pellucida, the protein-rich shell surrounding a mammalian egg. Zonagen has adopted a business strategy that seeks to establish the validity of its technology in veterinary markets that are relatively easy to access, while simultaneously developing major products for human use.
 Zonagen, Inc.
 Statements of Operations
 (unaudited)
 Three Months Ended Nine Months Ended
 1993 1992 1993 1992
 Revenues
 Licensing Fee $0 $0 $0 $0
 Interest Income 33,320 7,236 68,336 14,002
 Total Revenues $33,320 $7,236 $68,336 $14,002
 Costs and Expenses
 Research and
 Development 368,541 336,044 978,624 933,729
 General and
 Administrative 250,642 151,366 595,753 346,014
 Interest Expense (1,056) 18,502 ,?249 18,502
 Total
 Expenses $618,127 $505,912 $1,613,626 $1,298,245
 Net Oper. Loss (584,807) (498,676) (1,545,290) (1,284,243)
 Net Loss $(584,807) $(498,676)$(1,545,290)$(1,284,243)
 Loss Per Common and Common
 Equivalent Shares:
 From Continuing Operations $(0.17) $(0.26) $(0.53)$(0.68)
 Net Loss $(0.17) $(0.26) $(0.53)$(0.68)
 Weighted Average Common
 and Common Equivalent
 Shares 3,454,009 1,923,056 2,914,256 1,899,693
 -0- 11/15/93
 /CONTACT: Joseph S. Podolski, president of Zonagen, 713-367-5892; or Christopher J. Taylor, account executive of Feinstein Partners, 617-577-8110, for Zonagen/
 (ZONA)


CO: Zonagen, Inc. ST: Texas IN: MTC SU: ERN

JL -- NE024 -- 4643 11/15/93 16:20 EST
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Publication:PR Newswire
Date:Nov 15, 1993
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