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BIO-TECHNOLOGY GENERAL ANNOUNCES THIRD QUARTER RESULTS

 BIO-TECHNOLOGY GENERAL ANNOUNCES THIRD QUARTER RESULTS
 NEW YORK, Nov. 22 /PRNewswire/ -- Bio-Technology General Corp.


(NASDAQ: BTGC) today announced results for the third quarter and nine months of 1991. Net loss for the quarter was $2.3 million, or $0.11 per share, on revenue of $765 thousand compared to a loss in the comparable 1990 quarter of $1.7 million, or $0.10 per share, on revenue of $1.2 million. The nine month net loss was $6.1 million, or $0.30 per share, with revenue of $2.9 million compared to a comparable period loss in 1990 of $4.8 million, or $0.33 per share, on revenue of $2.9 million.
 Loss results for the quarter and nine months are due principally to the cost of new clinical trials and increased legal and administrative expenses.
 Cash and net worth at Sept. 30, 1991, totaled $13.7 million and $18.5 million, respectively. During the quarter, the company raised $6.0 million in a private offering of common stock and warrants. Equity was additionally increased by $3.8 million through conversions of existing convertible notes and the related reduction in capitalized interest.
 Bio-Technology General Corp. is engaged in the research, development and manufacture of genetically engineered products for human and animal health care.
 BIO-TECHNOLOGY GENERAL CORP. AND SUBSIDIARY
 Consolidated Statements of Operations
 (unaudited, in thousands except share data)
 Periods ended Nine months Three months
 Sept. 30 1991 1990 1991 1990
 Revenues:
 Contract fees $225 --- --- ---
 Contract research 919 $1,278 $220 $463
 Product sales 576 499 82 249
 Other revenues 888 744 338 274
 Interest income 329 383 125 172
 Total 2,937 2,904 765 1,158
 Expenses:
 Research and development 5,423 5,014 1,822 1,640
 Cost of product sales 367 351 58 177
 General and administrative 3,101 2,502 1,135 1,009
 Interest expense 149 83 55 24
 Other expenses(income),net (44) (259) 2 14
 Total 8,996 7,691 3,072 2,864
 Net loss (6,059) (4,787) (2,307) (1,706)
 Loss per common share ($0.30) ($0.33) ($0.11) ($0.10)
 Shares used in
 computation 19,965,735 14,624,307 21,721,592 17,018,475
 -0- 11/22/91
 /CONTACT: Leah Berkovits of Bio-Technology General, 212-239-0450; investor relations, Don Weinberger of Strategic Growth International, 212-826-9622; or press, Anthony J. Russo of Noonan/Russo Communications, 212-979-9180, for Bio-Technology General/
 (BTGC) CO: Bio-Technology General Corp. ST: New York IN: MTC SU: ERN


KD -- NY064 -- 6509 11/22/91 16:17 EST
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Date:Nov 22, 1991
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