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CAMBRIDGE BIOTECH CORPORATION REPORTS SECOND QUARTER 1992 RESULTS

CAMBRIDGE BIOTECH CORPORATION REPORTS SECOND QUARTER 1992 RESULTS
 WORCESTER, Mass., July 28 /PRNewswire/ -- Cambridge Biotech Corporation (NASDAQ: CBCX) today reported results for its second quarter ended June 30, 1992. The company reported quarterly revenues of $10,936,000, compared to $7,072,000 for the same period a year ago, or an increase of 55 percent. As a result, Cambridge reported second quarter net after tax earnings of $804,000, or 4 cents per share, compared to a second quarter 1991 loss of $420,000, or (2 cents) per share.
 For the year to date, Cambridge reported total revenue of $20,771,000, compared to $12,781,000, an increase of 62 percent, while costs and expenses of $19,361,000 increased 37 percent over those of $14,129,000 for the same time period last year.
 COmmenting on the results, Dr. Patrick J. Leonard, president and CEO of Cambridge Biotech Corporation, said, "These results are consistent with expectations and reflect the implementations of strategic initiatives that have put the
 CAMBRIDGE BIOTECH CORPORATION
 STATEMENTS OF OPERATION (unaudited)
 For the three For the six
 months ended months ended
 1992 1991 1992 1991
 Revenue: $10,936,000 $7,072,000 $20,771,000 $12,781,000
 Cost and
 expenses: $10,132,000 $7,492,000 $19,361,000 $14,129,000
 Net income
 (loss): $804,000 ($420,000) $1,410,000 ($1,348,000)
 Net income (loss)
 per weighted
 average share 4 cents (2 cents) 6 cents (8 cents)
 -0- 7/28/92
 /CONTACT: Peter P. Hartman, vice president-finance and CFO, 508-797-5777/
 (CBCX) CO: Cambridge Biotech Corporation ST: Massachusetts IN: MTC SU: ERN


PB -- NE004 -- 3838 07/28/92 08:38 EDT
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Date:Jul 28, 1992
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