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ARAMED REPORTS 1992 SECOND QUARTER RESULTS

 ARAMED REPORTS 1992 SECOND QUARTER RESULTS
 SAN DIEGO, Aug. 6 /PRNewswire/ -- Aramed Inc. (NASDAQ: ARAMZ)


today reported a net loss of $864,000, or $.30 per callable common share in the second quarter of 1992. Interest income for the second quarter totaled $456,000. For the six months ended June 30, 1992, the company's net loss totaled $1.4 million, or $.49 per share.
 Operating expenses were $1.3 million for the quarter and $2.4 million for the first six months 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). Since Aramed commenced operations in December 1991, there are no comparable operating results for 1991.
 As of June 30, 1992, Aramed had working capital of $48.6 million, primarily consisting of cash and cash equivalents.
 In December 1991, Aramed completed its initial public offering of units, each unit consisting of one share of Aramed callable common stock and one warrant to purchase 1 1/2 shares of Gensia common stock (as adjusted for a 3-for-2 stock split of Gensia Pharmaceuticals Inc. common stock on March 2, 1992).
 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 on second-generation ARA compounds in three program areas: ARAs for use in the intravenous treatment of acute cardiovascular disorders, ARAs for the oral treatment of epilepsy and intravenous treatment of acute seizures, and ARAs and adenosine agonists for the intravenous treatment of acute cerebrovascular indications.
 ARAMED INC.
 Balance Sheet Data
 (1992 is without audit, in thousands)
 June 30, Dec. 31,
 1992 1991
 Assets:
 Current assets
 Cash, cash equivalents &
 short-term investments $48,442 $50,836
 Other current assets 283 320
 Total assets $48,725 $51,156
 Liabilities and
 stockholders' equity:
 Current liabilities 134 1,168
 Stockholders' equity 48,591 49,988
 Total liabilities and
 stockholders' equity $48,725 $51,156
 Statement of Operations Data
 (Without audit, in thousands)
 Three months ended Six months ended
 June 30, 1992 June 30, 1992
 Interest income $456 $936
 Costs and expenses:
 Research and development 1,108 1,916
 General and administrative 212 441
 Total $1,320 $2,357
 Net loss ($864) ($1,421)
 Net loss per callable
 common share ($.30) ($.49)
 Weighted average callable
 common shares outstanding 2,875 2,875
 NOTE: Comparative information for 1991 is not presented because Aramed Inc. did not commence operations until December 1991.
 -0- 8/6/92
 /CONTACT: Martha L. Hough or Elizabeth A. Gard of Gensia Pharmaceuticals, 619-546-8300, for Aramed/
 (ARAMZ GNSA) CO: Aramed Inc.; Gensia Pharmaceuticals Inc. ST: California IN: MTC SU: ERN


JL-KJ -- SD003 -- 7438 08/06/92 09:05 EDT
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Date:Aug 6, 1992
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