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CELLPRO REPORTS FISCAL YEAR 1993 RESULTS; INVESTMENT IN RESEARCH AND DEVELOPMENT CONTINUES

 SEATTLE, May 11 /PRNewswire/ -- CellPro Inc. (NASDAQ: CPRO) today reported a net loss of $3.3 million for the fourth fiscal quarter ended March 31, 1993, and a net loss of $11.4 million for the 1993 fiscal year. This compares with net losses of $4.9 million for the fourth fiscal quarter and $9.1 million for the fiscal year ended March 31, 1992. The 1992 loss included a $3.0 million litigation reserve. Excluding this litigation reserve, the net loss for fiscal 1992 was $6.1 million.
 According to Larry G. Culver, chief financial officer, results for the quarter and year reflected the company's investment in increasing its manufacturing capacity, establishing a European sales and marketing organization and expanding clinical trials in the United States, France and Germany. In addition, the company continued to invest heavily in research and development to expand its technological base. Research and development expenses increased 66 percent and 90 percent during the fiscal quarter and year ended March 31, 1993, respectively, over the comparable periods of fiscal 1992.
 As of March 31, 1993, the company's cash, cash equivalents and marketable securities totaled $55.9 million compared to $30.3 million as of March 31, 1992. Working capital at year-end was $52.9 million compared with $26.5 million at year-end 1992.
 Located in Bothell, Wash., CellPro Inc. is a biotechnology company specializing in the development, manufacturing and marketing of proprietary continuous-flow, cell-selection systems for use in a variety of therapeutic, diagnostic and research applications.
 CELLPRO INC.
 (A Company in the Development Stage)
 SELECTED FINANCIAL DATA
 Statement of Operations Data:
 Three Months Year
 Ended March 31: 1993 1992 1993 1992
 (Unaudited)
 Interest income $ 451,400 $ 397,172 $1,431,929 $ 974,344
 Product sales 113,817 39,346 301,173 52,377
 Total 565,217 436,518 1,733,102 1,026,721
 Costs and Expenses:
 Research and
 development 2,709,106 1,634,936 9,501,544 5,004,936
 Selling, general and
 administrative 1,110,601 616,525 3,439,921 1,914,546
 Interest 51,957 37,061 210,787 160,830
 Litigation provision -- 3,000,000 -- 3,000,000
 Total costs and
 expenses 3,871,664 5,288,522 13,152,252 10,080,312
 Net loss $(3,306,447) $(4,852,004) $(11,419,150) $(9,053,591)
 Net loss per
 share $ (0.32) $ (0.54) $ (1.23) $ (1.25)
 Weighted average
 number of shares
 outstanding 10,210,676 9,002,752 9,252,139 7,256,429
 Balance Sheet Data:
 March 31, March 31,
 1993 1992
 Cash, cash equivalents and
 marketable securities $55,898,994 $30,339,552
 Working capital 52,897,691 26,474,773
 Total assets 62,163,416 35,073,425
 Long-term debt, net of
 current portion 870,957 469,160
 Total stockholders' equity 57,367,564 30,008,708
 -0- 5/11/93
 /CONTACT: Lee M. Parker of CellPro, 206-485-7644/
 (CPRO)


CO: CellPro Inc. ST: Washington IN: MTC SU: ERN

LH-LM -- SE002 -- 6840 05/11/93 08:06 EDT
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Date:May 11, 1993
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