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CORTECH ISSUES SECOND QUARTER FINANCIAL RESULTS

DENVER, Aug. 2 /PRNewswire/ -- Cortech, Inc. (Nasdaq: CRTQ) today released its financial results for the quarter and six months ended June 30, 1995. The company reported a net loss of approximately $5.0 million or 28 cents per share for the quarter compared to a net loss of $6.5 million or 37 cents per share for the same quarter of 1994. The net loss for the six months ended June 30, 1995 was $10.8 million or 61 cents per share, compared to a loss of $12.2 million or 70 cents per share for the first half of 1994.

Expenses decreased from $7.2 million for the second quarter of 1994 to $6.5 million in the second quarter of 1995 primarily as a result of the completion of a 251-patient, Phase II study of Bradycor(TM) in patients with systemic inflammatory response syndrome and presumed sepsis and the reduction in force that occurred in March of this year. First half expenses of both 1995 and 1994 were $13.7 million.

The Company's revenues of $1.4 million for the quarter ended June 30, 1995 represented an increase over revenues of $656,000 for the same period in 1994. Revenues for the six months ended June 30, 1995 were $2.9 million, compared to $1.4 million for the first half of 1994.

As of June 30, 1995, the company had cash and short-term investments totaling $29.6 million, which was decreased from $33.7 million at March 31, 1995.

Cortech, Inc. is a Denver-based biopharmaceutical company focused on the design and development of three novel classes of drugs for the potential treatment of a broad range of inflammatory and immunology disorders. However, no assurance can be given that the company's therapeutic approaches will lead to successful product launches and product revenues.
 CORTECH, INC.
 CONDENSED BALANCE SHEETS
 (In Thousands)
 June 30, Dec. 31,
 1995 1994


ASSETS

Cash, cash equivalents and
 short-term investments $29,574 $36,268
 Other current assets 152 404
 Property and equipment, net 7,105 8,881
 Total Assets $36,831 $45,553


LIABILITIES AND STOCKHOLDERS' EQUITY
 Current liabilities $4,350 $2,480
 Stockholders' equity 32,481 43,073


Total Liabilities and
 Stockholders' Equity $36,831 $45,553
 CONDENSED STATEMENTS OF OPERATIONS
 (In Thousands)
 For the three For the six
 months ended months ended
 June 30, June 30,
 1995 1994 1995 1994
 REVENUES $1,440 $656 $2,891 $1,448


COSTS AND EXPENSES
 Research and development 5,321 6,071 11,202 11,105
 General and administrative 1,143 1,087 2,473 2,557
 6,464 7,158 13,675 13,662
 Net Loss $(5,024) $(6,502) $(10,784) $(12,214)
 Net loss per share $(0.28) $(0.37) $(0.61) $(0.70)


Weighted average common
 shares outstanding 17,729 17,494 17,727 17,458
 -0- 8/2/95


/CONTACT: Joseph L. Turner, Vice President, Finance & Administration, and Chief Financial Officer of Cortech, 303-650-1200/

(CRTQ)

CO: Cortech Inc. ST: Colorado IN: MTC SU: ERN

LD-MO -- LA037 -- 9364 08/02/95 11:13 EDT
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Date:Aug 2, 1995
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