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ARAMED REPORTS 1992 FOURTH QUARTER AND YEAR-END RESULTS

 SAN DIEGO, Feb. 5 /PRNewswire/ -- Aramed Inc. (NASDAQ: ARAMZ) today reported a net loss of $1.0 million, or $.35 per callable common share, in the fourth quarter ended Dec. 31, 1992.
 For the 12 months ended Dec. 31, 1992, the company's net loss totaled $3.1 million, or $1.08 per callable common share. Interest income for the 12 months ended Dec. 31, 1992, was $2.0 million. Since Aramed Inc. was formed on Sept. 30, 1991, comparative information is for the period from Sept. 30, 1991 (date of inception) to Dec. 31, 1991. For the period from Sept. 30, 1991 (date of inception) to Dec. 31, 1991, the net loss totaled $2.6 million, or $.90 per callable common share, and interest income totaled $140,000 for the same period.
 At Dec. 31, 1992, Aramed had working capital of $46.9 million consisting primarily of cash, cash equivalents and short-term investments.
 Operating expenses were $1.5 million for the fourth quarter of 1992, consisting primarily of funds expended under a contract with Gensia Pharmaceuticals Inc. (NASDAQ: GNSA) to conduct research and development of second generation adenosine regulating agents (ARAs). Interest income was $482,000 for the fourth quarter of 1992. For the period ended Sept. 30, 1991 (date of inception) to Dec. 31, 1991, Aramed's operating expenses and interest income were $2.7 million (including a $2.0 million initial licensing fee) and $140,000, respectively.
 Aramed was formed to accelerate the discovery, research and development of certain compounds utilizing Gensia's ARA technology. Aramed has contracted with Gensia to conduct research and development in three program areas: second generation ARAs for use in the intravenous treatment of acute cardiovascular disorders, ARAs for the oral and intravenous treatment of certain seizure disorders and ARAs and adenosine agonists for the intravenous treatment of acute cerebrovascular disorders.
 ARAMED INC.
 Balance Sheet Data
 (In thousands)
 Dec. 31, Dec. 31,
 1992 1991
 Assets:
 Current assets:
 Cash, cash equivalents
 & short-term investments $46,959 $50,836
 Other current assets 617 320
 Total assets $47,576 $51,156
 Liabilities and stockholders' equity:
 Current liabilities 655 1,168
 Stockholders' equity 46,921 49,988
 Total liabilities and
 stockholders' equity $47,576 $51,156
 ARAMED INC.
 Statement of Operations Data
 (In thousands, except share data)
 Three Months Ended 12 Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992
 Interest income $482 $140 $2,027
 Costs and expenses:
 Research and development 1,282 2,666 4,215
 General and administrative 217 67 903
 Total costs and expenses 1,499 2,733 5,118
 Net loss ($1,017) ($2,593) ($3,091)
 Net loss per callable
 common share ($.35) ($.90) ($1.08)
 Weighted average callable
 common shares outstanding 2,875 2,875 2,875
 Note: No comparative information for 1991 is available for the prior year 12-month period as the company commenced operations Sept. 30, 1991.
 -0- 2/4/93
 /CONTACT: Elizabeth A. Gard of Gensia Pharmaceuticals, 619-546-8300/
 (ARAMZ GNSA)


CO: Aramed Inc.; Gensia Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

KJ-JB -- SD001 -- 3671 02/05/93 16:20 EST
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Date:Feb 5, 1993
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