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ATRIX LABORATORIES REPORTS SECOND QUARTER AND SIX MONTH RESULTS; ANNOUNCES ACQUISITION OF SRI TECHNOLOGY

 ATRIX LABORATORIES REPORTS SECOND QUARTER AND SIX MONTH RESULTS;
 ANNOUNCES ACQUISITION OF SRI TECHNOLOGY
 FORT COLLINS, Colo., April 29 /PRNewswire/ -- Atrix Laboratories, Inc. (NASDAQ: ATRX), a drug delivery company, today reported a loss of $4,948,672 or $(.70) per share on revenues of $1,058,801 for the quarter ended March 31, 1992, which was primarily a result of a $4.5 million one-time charge relating to the purchase of all rights for the proprietary drug delivery system. These results compare with a loss of $69,235 or $(.01) per share loss on revenues of $859,542 for the second quarter 1991.
 Year-to-date, the company reported a loss of $5,976,319 or $(.85) per share on revenues of $1,362,043 compared with a loss of $37,455 or $(.01) per share on revenues of $1,617,910 for the six months ended March 31, 1991.
 Commenting on the results, Lee Southard, chairman and CEO, stated that the losses reflect a one-time charge of $4.5 million for the purchase of Atrix's proprietary drug delivery system from the Southern Research Institute (SRI). Southard said, "It is extremely advantageous to Atrix that we now own this technology outright. It enables us to continue our corporate mission to forming additional strategic alliances with major pharmaceutical companies without questions regarding ownership of our delivery system." Southard went on to say that the Atrigel(TM) system is a unique drug delivery technology with tremendous potential for commercialization. He further stated, "We expect to maximize the benefits from our proprietary technology as we develop a pipeline of innovative products, drug and device applications."
 Atrix Laboratories is a drug delivery company with a unique, proprietary drug delivery system that is biodegradable and can be utilized for a broad range of human and animal applications.
 ATRIX LABORATORIES, INC.
 Statements of Operations
 (Unaudited)
 Three months ended March 31 1992 1991
 Revenue:
 Contract revenue from related party -
 Perio Project $ -- $ 661,072
 Contract revenue - other projects 154,538 14,563
 Contract revenue from related party -
 other projects 414,046 70,152
 Interest income 490,217 113,755
 Total revenue 1,058,801 859,542
 Expenses:
 Research expenses - Perio Project 606,959 558,810
 Research & development expenses 500,046 164,867
 Acquisition of technology 4,503,000 --
 Administrative expenses 397,465 205,100
 Total expenses 6,007,470 928,777
 Loss bef. provision for inc. taxes (4,948,672) (69,235)
 Provision for income taxes -- --
 Net loss $(4,948,672) $ (69,235)
 Loss per common share $(.70) $(.01)
 Weighted average shares outstanding 7,044,030 5,370,995
 Six months ended March 31 1992 1991
 Revenue:
 Contract revenue from related party -
 Perio Project $ -- $1,204,391
 Contract revenue - other projects 196,246 121,111
 Contract revenue from related party -
 other projects 416,670 32,823
 Interest income 749,127 259,585
 Total revenue 1,362,043 1,617,910
 Expenses:
 Research expenses - Perio Project 1,342,592 1,018,082
 Research & development expenses 853,019 304,906
 Acquisition of technology 4,503,000 --
 Administrative expenses 639,751 332,377
 Total expenses 7,338,362 1,655,365
 Loss bef. provision for inc. taxes (5,976,319) (37,455)
 Provision for income taxes -- --
 Net loss $(5,976,319) $ (37,455)
 Loss per common share $(.85) $(.01)
 Weighted average shares outstanding 7,044,030 5,370,995
 -0- 4/29/92
 /CONTACT: Dale Clift, vice president and chief financial officer of Atrix Laboratories, 303-482-5868; or Susan Sherman of Cameron Associates, 212-644-9560, for Atrix Laboratories/
 (ATRX) CO: Atrix Laboratories, Inc. ST: Colorado IN: MTC SU: ERN


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Date:Apr 29, 1992
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