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CAMBRIDGE BIOTECH REPORTS FIRST QUARTER 1992 RESULTS

 CAMBRIDGE BIOTECH REPORTS FIRST QUARTER 1992 RESULTS
 WORCESTER, Mass., April 30 /PRNewswire/ -- Cambridge Biotech


Corporation (NASDAQ: CBCX) today reported results for its first quarter 1992, ended March 31. The company reported quarterly revenues of $9,834,872, compared to $5,709,085 for the same period a year ago, or an increase of 72 percent. Total costs and expenses for the period were $9,524,594, as compared to $6,764,673 for first quarter 1991, an increase of 41 percent. As a result, Cambridge reported first quarter net after tax earnings of $606,333, or 3 cents per share, compared to a first quarter 1991 loss of $927,701 or (5 cents) per share.
 Commenting on the results Peter P. Hartman, vice president-finance and chief financial officer for Cambridge, said, "The improvement in our results is as expected, following the progressive improvements shown over the last 7 quarters. Viewed against the same period one year ago, there is significant strength in all areas. The company is well positioned to maintain this trend."
 Cambridge Biotech Corporation is a leader in the development of recombinant technology and a major producer of viral diagnostic screening and confirmatory products. The company utilizes recombinant technology in the development and production of antigens. The company also develops adjuvants and monoclonal antibodies as the basis for diagnostic, vaccine and therapeutic products for humans and animals.
 CAMBRIDGE BIOTECH CORPORATION
 Statement of Operations
 Three months ended 3/31/92 3/31/91 12/31/91
 Revenues $9,834,872 $5,709,085 $8,837,108
 Costs and expense 9,524,594 6,764,673 8,459,878
 Interest (net) 296,055 127,887 1,547,334
 Net income (loss) 606,333 (927,701) 1,924,564
 Net income (loss) per
 weighted average share $0.03 ($0.05) $0.09(A)
 Weighted average shares
 outstanding 22,096,556 17,008,515 20,983,000
 (A) -- Reflects a one-time credit of $1.4 million, or 7 cents per share, derived from the sale of a non-strategic asset, DBL stock, in the fourth quarter.
 -0- 4/30/92
 /CONTACT: Peter P. Hartman, vice president-finance and chief financial officer of Cambridge Biotech, 508-797-5777, or Mark Cohen of Cameron Associates, 212-644-9560, for Cambridge Biotech/
 (CMCX) CO: Cambridge Biotech Corporation ST: Massachusetts IN: MTC SU: ERN


SH-TS -- NY008 -- 4742 04/30/92 08:32 EDT
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Date:Apr 30, 1992
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