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ARGUS PHARMACEUTICALS REPORTS ON SECOND QUARTER OPERATING RESULTS

 HOUSTON, Aug. 16 /PRNewswire/ -- Argus Pharmaceuticals, Inc. (NASDAQ: ARGS) today reported operating results for the second quarter ended June 30, 1993.
 The company incurred a net loss of $1.3 million, or $.20 per share, for the three months compared with a net loss of $1.1 million, or $.22 per share, for the same period in 1992. Total revenues, comprised of interest income and grant income, were $84,003, compared with $12,325 a year ago. At June 30, Argus held assets in the form of cash and short- term investments totaling $6.4 million, to continue its development of new pharmaceutical products.
 For the six months ended June 30, a net loss of $2.8 million, or $.42 per share, was recorded compared with a net loss of $2.2 million, or $.41 per share, for the same period in 1992. Revenues for the six months were $144,275, compared with $46,812 last year.
 Argus Pharmaceuticals develops proprietary pharmaceuticals for cancer and infectious diseases. Argus benefits from more than a decade of research on macrophages and lipid carriers conducted by a team of scientists at The University of Texas M.D. Anderson Cancer Center in Houston.
 -0- 8/16/93
 /CONTACT: Kenneth M. Cohen, vice president-business affairs of Argus Pharmaceuticals, Inc., 713-367-1666, or Angela Goodwin or Bryan Oakley, both of Edelman Public Relations, 713-623-2666/
 (ARGS)


CO: Argus Pharmaceuticals, Inc. ST: Texas IN: MTC SU: ERN

TM -- NY106 -- 3309 08/16/93 18:12 EDT
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Publication:PR Newswire
Date:Aug 16, 1993
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