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CAMBRIDGE NEUROSCIENCE REPORTS SECOND QUARTER 1993 RESULTS IN LINE WITH EXPECTATIONS; STRENGTHENS CLINICAL DEVELOPMENT TEAM

 CAMBRIDGE, Mass., Aug. 6 /PRNewswire/ -- Cambridge NeuroScience, Inc. (NASDAQ: CNSI) today reported, in line with expectations, a net loss for the second quarter June 30, 1993, of $4,222,181, or 49 cents per share, compared to a net loss of $3,770,231, or 44 cents per share, in the second quarter of 1992. For the six months ended June 30, 1993, the company reported a net loss of $7,861,507, or 91 cents per share, compared with a net loss of $6,431,761, or 75 cents per share, for the same period last year.
 Commenting on the results for the quarter and the company's product development programs, Alan J. Dalby, chairman and chief executive officer, stated, "We're extremely gratified by the rapid clinical progress we've achieved with Cerestat(TM), the lead product in our portfolio of neuroprotective agents to treat severe disorders of the nervous system. We have also significantly expanded our clinical development team with the addition of a vice president, clinical development and a clinical trials manager, with extensive experience in advancing products through human testing and toward commercialization. In addition, our relationships with some of the world's leading neuroscientists and neurosurgeons have been broadened through our expanded clinical trials."
 Among the highlights during the second quarter, management noted, were the expansion of Phase I trials for Cerestat in stroke patients to include a seventh New England-area medical center, and the initiation of two Phase I(b) trials of the drug for Traumatic Brain Injury patients in Texas and the United Kingdom.
 "Our primary mission is the discovery and development of innovative therapies to treat neurological damage and neurodegenerative diseases, while prudently managing the allocation of our financial resources," added Dalby.
 Cambridge NeuroScience is a leading neuroscience company engaged in the discovery and development of proprietary pharmaceuticals with a focus on nerve cell survival. The company is developing a number of products to treat stroke, traumatic brain injury, schizophrenia and chronic neurodegenerative disorders, such as diabetic peripheral neuropathy and multiple sclerosis.
 CAMBRIDGE NEUROSCIENCE, INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 Three Months Six Months
 Ended June 30, Ended June 30,
 1993 1992 1993 1992
 Revenue $139,877 $209,614 $139,877 $461,728
 Operating Expenses:
 Research and
 development 3,676,379 3,438,407 6,616,634 5,947,115
 General and
 administrative 787,032 863,711 1,619,813 1,651,045
 Total expenses 4,463,411 4,302,118 8,236,447 7,598,160
 Loss from
 operations (4,323,534) (4,092,504) (8,096,570) (7,136,432)
 Interest income 140,687 322,321 316,918 704,719
 Interest expense (39,334) (48) (81,855) (48)
 Net loss $(4,222,181) $(3,770,231)$(7,861,507)$(6,431,761)
 Net loss per
 common share (49 cents) (44 cents) (91 cents) (75 cents)
 Number of shares
 outstanding for
 purposes of
 computing net
 loss per share 8,631,562 8,615,252 8,629,470 8,613,686
 -0- 8/6/93
 /CONTACT: Philip V. Holberton, vice president and CFO, Cambridge NeuroScience, Inc., 617-225-0600, ext. 106; Christopher Taylor, account executive, Feinstein Partners Inc., 617-577-8110, for Cambridge NeuroScience/
 (CNSI)


CO: Cambridge NeuroScience, Inc. ST: Massachusetts IN: MTC SU: ERN

DJ-CM -- NE001 -- 0193 08/06/93 09:04 EDT
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Date:Aug 6, 1993
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