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ATRIX LABORATORIES ANNOUNCES THIRD QUARTER AND NINE MONTH RESULTS

 FORT COLLINS, Colo., Aug. 12 /PRNewswire/ -- Atrix Laboratories Inc. (NASDAQ: ATRX) reported a net loss of $1.0 million or (13 cents) per share on revenues of $733,000 for the third quarter ended June 30, 1993. These results compare with a net loss of $477,000 or (7 cents) per share on revenues of $849,000 for the third quarter ended June 30, 1992. For the nine months ended June 30, 1993, the company reported a net loss of $2.5 million or (33 cents) per share on revenues of $2.4 million compared with a net loss of $6.5 million or (89 cents) per share on revenues of $2.2 million for the like nine month period one year ago.
 John E. Urheim, Atrix's chief executive officer stated, "The company continues to maintain a strong balance sheet with $28.4 million in cash and cash equivalents. We believe that this amount is sufficient to bring us through the clinical testing of our periodontal products, the Perio Product and the ATRISORB(TM) Guided Tissue Regeneration Barrier. The results of our third quarter and nine month reporting are in line with management's expectations."
 Atrix is a drug delivery company with a unique, patented biodegradable polymeric system that can be used for a broad range of applications including drug delivery, medical devices and the treatment of periodontal disease.
 ATRIX LABORATORIES INC.
 STATEMENTS OF OPERATIONS
 For the Three Months Ended June 30, 1993 and 1992
 (Unaudited)
 1993 1992
 Revenue:
 Contract revenue - other projects $268,412 $282,413
 Contract revenue from related
 party - other projects 65,047 101,824
 Interest income 399,382 464,530
 Total revenue 732,841 848,767
 Expenses:
 Research expenses - Perio Product 799,800 638,796
 Research and development expenses 755,179 450,062
 Administrative expenses 190,284 236,434
 Total expenses 1,745,263 1,325,292
 Net Loss $(1,012,422) $(476,525)
 Loss per common share $(.13) $(.07)
 Weighted average shares outstanding 7,687,025 7,230,554
 For the Nine Months Ended June 30, 1993 and 1992
 (Unaudited)
 1993 1992
 Revenue:
 Contract revenue - other projects $746,472 $478,627
 Contract revenue from related
 party - other projects 350,924 518,525
 Gain on sale of marketable
 securities 129,470 ---
 Interest income 1,185,198 1,213,656
 Total revenue 2,412,064 2,210,808
 Expenses:
 Research expenses - Perio Product 2,041,055 2,157,745
 Research and development expenses 2,210,945 1,281,293
 Acquisition of technology --- 4,505,000
 Administrative expenses 682,373 719,615
 Total expenses 4,934,373 8,663,653
 Net Loss $(2,522,309) $(6,452,845)
 Loss per common share $(.33) $(.89)
 Weighted average shares outstanding 7,687,025 7,230,554
 -0- 8/12/93
 /CONTACT: Susan Sherman of Atrix Laboratories, 303-482-5868/
 (ATRX)


CO: Atrix Laboratories Inc. ST: Colorado IN: MTC SU: ERN

MC -- DV002 -- 2078 08/12/93 11:06 EDT
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Publication:PR Newswire
Date:Aug 12, 1993
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