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ATRIX LABORATORIES ANNOUNCES YEAR END RESULTS

 FORT COLLINS, Colo., Jan. 14 /PRNewswire/ -- Atrix Laboratories Inc. (NASDAQ: ATRX) reported a net loss of $3.7 million or $(.48) per share on revenues of $3.1 million for the fiscal year ended Sept. 30, 1993. This compares with a net loss of $6.9 million or $(.94) per share on revenues of $3.2 million for the year ended Sept. 30, 1992.
 The year end loss for 1993 was less than the comparable period in 1992 primarily because of the one time 1992 expense of approximately $4.5 million associated with Atrix's acquisition of the worldwide patent and licensing rights to the biodegradable polymer technology which is the basis for the ATRIGEL(TM) Drug Delivery System.
 Research and development expenses increased to approximately $5.8 million for the 1993 fiscal year versus $4.5 million in 1992. The primary reasons for the increase were related to the clinical study costs associated with the ATRISORB(TM) Barrier and increased development efforts for the ATRIGEL(TM) Drug Delivery System.
 John E. Urheim, chief executive officer and vice chairman stated, "The company remains in a strong financial position with $27 million in cash. Looking ahead we are optimistic that 1994 will be an exciting year at Atrix, moving both of our periodontal products into the final phases of clinical testing and continuing our development of other applications for the ATRIGEL(TM) Drug Delivery System." The company also said that its year end will change from Sept. 30 to Dec. 31.
 Atrix Laboratories is a drug delivery company whose cornerstone technology is comprised of the ATRIGEL(TM) Drug Delivery System which 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 Years Ended
 Sept. 30,
 1993 1992
 Revenue:
 Contract revenue from related
 party - Perio Product --- ---
 Contract revenue from related
 party - other projects 341,924 663,018
 Contract revenue - other projects 1,036,514 802,411
 Interest income 1,556,187 1,695,719
 Gain on sale of securities 157,681 ---
 Total revenue 3,092,306 3,161,148
 Expenses:
 Research expenses - Perio Product 2,788,787 2,430,666
 Research and development 3,064,702 2,129,365
 Acquisition of technology --- 4,505,399
 Administrative expenses 937,035 995,954
 Total expenses 6,790,524 10,061,384
 Loss before benefit for income taxes (3,698,218) (6,900,236)
 Benefit for income taxes --- ---
 Net loss $(3,698,218) $(6,900,236)
 Net loss per common share $(.48) $(.94)
 Weighted average shares outstanding 7,695,164 7,340,088
 -0- 1/14/94
 /CONTACT: Susan Sherman of Atrix Laboratories, 303-482-5868/
 (ATRX)


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

MC -- DV004 -- 1202 01/14/94 11:23 EST
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Publication:PR Newswire
Date:Jan 14, 1994
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