ANERGEN INC. REPORTS FIRST QUARTER RESULTS
ANERGEN INC. REPORTS FIRST QUARTER RESULTS REDWOOD CITY, Calif., April 23 /PRNewswire/ -- Anergen Inc.
(NASDAQ: ANRG) today reported a net loss of $1,122,000, or $.20 per share, for the first quarter ended March 31, 1992, as compared to a loss of $884,000, or $.30 per share, for the same period a year ago. The company had a net loss of $1,095,000, or $.21 per share, for the preceding quarter ended Dec. 31, 1991.
John W. Fara, Ph.D., Anergen's chief executive officer, said, "Progress in our research programs continues on track at planned spending levels." Anergen is developing proprietary therapies for treatment of autoimmune diseases using biopharmaceutical compounds that are designed to inactivate the specific T cells in the immune system responsible for such diseases. The company has conducted in vitro laboratory and in vivo animal studies which indicate that its compounds, called AnergiX(TM), may inactivate the specific T cells that cause multiple sclerosis, myasthenia gravis and rheumatoid arthritis. Based on these laboratory and animal results, Anergen is extending its ongoing research to the development of similar proprietary human-based AnergiX therapies. ANERGEN INC. Unaudited Selected Financial Data (In thousands except per share data) Three months ended March 31, 1992 1991 Operations data Expenses: Research and development $860 $626 General and administrative 392 225 Interest, net (130) 33 Net loss $1,122 $884 Net loss per share $0.20 $0.30 Shares used in calculating per share data 5,570 2,926 March 31, Dec. 31, 1992 1991 Balance sheet data Cash and short-term investments $12,467 $13,655 Working capital 11,692 12,785 Total assets 13,117 14,350 Total liabilities 1,023 1,162 Shareholders' equity 12,094 13,188 -0- 4/23/92 /CONTACT: Joan Shields or John Varian, CFO, of Anergen, 415-361-8901/ (ANRG) CO: Anergen Inc. ST: California IN: MTC SU: ERN
KJ-JL -- LA038 -- 2102 04/23/92 16:19 EDT
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|Date:||Apr 23, 1992|
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