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AUTOIMMUNE INC. REPORTS 1992 FINANCIAL RESULTS

 LEXINGTON, Mass., March 22 /PRNewswire/ -- AutoImmune Inc. (NASDAQ: AIMM) today reported a net loss of $3,857,000, or $2.89 per share, for the fiscal year ended Dec. 31, 1992, compared with a net loss of $2,631,000, or $1.77 per share, for the previous year.
 "The year 1992 was highlighted by the continued clinical development of AutoImmune's products for the treatment of immune system disorders," said Robert C. Bishop, Ph.D., president and chief executive officer of AutoImmune. "During the year, we completed a preliminary clinical trial of AI 100, our product for multiple sclerosis. We were extremely encouraged by the results, and plan to initiate Phase II/III trials of the product by year-end 1993. We also entered Phase II clinical studies of our therapeutic products for rheumatoid arthritis and uveitis," Dr. Bishop stated.
 "Other important corporate developments during 1992 included entering a collaborative agreement with Schering-Plough for the commercialization of our rheumatoid arthritis products. Early in 1993, we successfully raised approximately $35.6 million in an IPO, and will complete our new laboratory facilities by April 1993," Dr. Bishop added.
 AutoImmune is developing pharmaceutical products based on the principle of oral tolerance for the treatment of immune system disorders, including multiple sclerosis, rheumatoid arthritis and uveitis.
 AutoImmune is located at 128 Spring Street, Lexington, Mass. 02173.
 AUTOIMMUNE INC.
 STATEMENT OF OPERATIONS
 For the year ended Dec. 31,
 1991 1992
 Revenues:
 Research and development revenue --- $418,000
 under collaborative agreements
 License option fees --- 700,000
 Total revenues --- 1,118,000
 Cost and expenses:
 Research and development:
 Related party $1,452,000 1,664,000
 Others 1,054,000 2,506,000
 General and administrative 227,000 999,000
 Total costs and expenses 2,733,000 5,169,000
 Interest income 135,000 194,000
 Interest expense (33,000) ---
 102,000 194,000
 Net loss $(2,631,000) $(3,857,000)
 Net loss per share ($1.77) ($2.89)
 Weighted average common shares
 outstanding 1,486,731 1,334,194
 BALANCE SHEET DATA
 Dec. 31, 1991 Dec. 31, 1992
 Cash and short-term investments(a) $7,220,000 $2,677,000
 Total assets 7,696,000 3,998,000
 Total stockholders' deficit (6,383,000) (10,140,000)
 ----
 NOTE: (a) Does not include net proceeds totaling approximately $35,600,000 from initial public offering completed in January 1993.
 -0- 3/22/93
 /CONTACT: Thomas V. Hennessey, Jr., vice president, CFO and treasurer, AutoImmune Inc., 617-860-0710; Marcia A. Kean, executive VP, Feinstein Partners Inc., 617-577-8110/
 (AIMM)


CO: AutoImmune Inc. ST: Massachusetts IN: MTC SU: ERN

DH -- NE015 -- 8373 03/22/93 16:46 EST
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Date:Mar 22, 1993
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