Printer Friendly

CISTRON ANNOUNCES RESULTS FOR SECOND QUARTER

PINE BROOK, N.J., March 8 /PRNewswire/ -- Cistron Biotechnology, Inc. has reported its financial results for the second quarter and six months ended December 31, 1995.

Sales for the second quarter were $134,170 compared with $138,725 for the same period last year. Net loss was $310,642 versus a loss of $63,189 for the comparable 1994 quarter.

For the six-month period, sales were $268,004 compared with $290,523 last year. Net loss was $395,382 versus a loss of $153,821 in the first six months of 1994.

Cistron attributed its losses primarily to continuing legal expenses. Cistron's trade secret misappropriation suit against Immunex Corp. (Nasdaq: IMNX), a subsidiary of American Home Products Corporation (NYSE: AHP), is currently scheduled for a jury trial in Seattle in April. PeproTech, Inc. has filed its brief in federal appellate court arguing against the district court's findings on the scope of IL-1 patent claims and the award of $3 million to Cistron in November, 1994 for patent infringement by PeproTech.

Cistron's primary product area is immune response regulators known as lymphokines. The company manufactures and sells lymphokines and lymphokine assay kits to pharmaceutical companies, the government and academic institutions in North America, Europe and the Pacific Rim for cancer, arthritis and other autoimmune disease research.
 CISTRON BIOTECHNOLOGY, INC.
 Financial Summary
 Three months ended December 31,
 1995 1994
 Net Sales $ 134,170 $ 138,725
 Net Loss $ (310,642) $ (63,189)
 Net Loss Per Share $ (.01) $ --


Weighted Average Number
 of Shares Outstanding 26,882,990 26,882,990
 Six months ended December 31,
 1995 1994
 Net Sales $ 268,004 $ 290,523
 Net Loss $ (395,382) $ (153,821)
 Net Loss Per Share $ (.01) $ (.01)


Weighted Average Number
 of Shares Outstanding 26,882,990 26,882,990
 -0- 3/8/96


/CONTACT: Harold Smith of Hal Smith Associates Public Relations, 800-743-6632, for Cistron Biotechnology, Inc./

(IMNX, AHP)

CO: Cistron Biotechnology, Inc.; Immunex Corp.; American Home Products

Corporation; PeproTech, Inc. ST: New Jersey IN: MTC SU: ERN

HH -- NYF002 -- 1493 03/08/96 09:00 EST
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 8, 1996
Words:341
Previous Article:DIGITAL PICKS FIBRE CHANNEL AS StorageWorks SERIAL SCSI STANDARD
Next Article:SEMITOOL ANNOUNCES STOCKHOLDER LAWSUIT FILED
Topics:

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters