Printer Friendly

ALPHA 1 BIOMEDICALS SECOND QUARTER, CALENDAR YEAR 1993 RESULTS

 BETHESDA, Md., July 28 /PRNewswire/ -- Alpha 1 Biomedicals, Inc. (NASDAQ: ALBM) today reported financial results for the second quarter of calendar year 1993.
 Revenues for the second quarter were $274,751 resulting in a net loss of $1,121,373, or $.013 per share. The results for the same quarter a year earlier were a net loss of $974,945 or $0.13 per share. No revenues were recorded for the comparable period a year earlier.
 Revenues for the first six months were $726,205 resulting in a net loss of $2,137,390 or $.27 per share. The results for the same period a year earlier were a net loss of $1,902,276 or $.26 per share.
 Reported losses for the quarter and six month period were in line with management's expectations and were primarily associated with increased costs and expenses related to product sales and associated operating expenses. "Alpha 1 is beginning to see a consistent revenue stream associated with the sale of Thymosin alpha 1 to our licensees," stated Vincent F. Simmon, Ph.D., president and chief executive officer. "Based on current indications for orders, we expect revenues to increase during the second half of 1993."
 Alpha 1 Biomedicals, Inc. is engaged in the development of pharmaceutical products for the treatment of chronic viral diseases, immune disorders and cancer. The company's lead drug, Thymosin alpha 1, is currently in U.S. clinical trials for the treatment of chronic hepatitis B, chronic hepatitis C and AIDS.
 ALPHA 1 BIOMEDICALS, INC.
 Statement of Operations
 (unaudited)
 Periods ended Three Months Six Months
 June 30, 1993 1992 1993 1992
 Revenue
 Licensing fees --- --- 83,333 ---
 Product sales $274,751 --- 642,872 ---
 Total revenues 274,751 --- 726,205 ---
 Expenses
 Cost of sales 151,571 --- 387,958 ---
 Research and product
 development 570,925 388,969 1,013,168 817,462
 General and administrative 746,864 558,025 1,454,781 1,047,054
 Total expenses 1,469,360 946,994 2,855,907 1,864,516
 Operating loss (1,194,609) (946,994)(2,129,702)(1,864,516)
 Interest income 116,986 56,299 126,062 117,140
 Equity in loss of VTI (43,750) (84,250) (133,750) (154,900)
 Net loss (1,121,373) (974,945)(2,137,390)(1,902,276)
 Net loss per
 common share (0.13) (0.13) (0.27) (0.26)
 Weighted average number
 of common shares
 outstanding 8,475,349 7,326,217 8,055,644 7,307,824
 -0- 7/28/93
 /CONTACT: R.J. Lanham, vice president - finance of Alpha 1 Biomedicals, 301-564-4400, or Anita Monteith Dixon of Long Ridge Associates, 203-790-0647, for Alpha 1 Biomedicals/
 (ALBM)


CO: Alpha 1 Biomedicals, Inc. ST: Maryland IN: MTC SU: ERN

MP-LG -- NY020 -- 6681 07/28/93 09:58 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 28, 1993
Words:464
Previous Article:IPALCO ENTERPRISES, INC., REPORTS FINANCIAL RESULTS FOR SECOND QUARTER 1993
Next Article:NATIONAL MEDIA CORPORATION POSTS 33 PERCENT IMPROVEMENT IN NET INCOME FOR FIRST FISCAL QUARTER OF 1994; NET REVENUES WERE A RECORD
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters