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CYGNUS THERAPEUTIC SYSTEMS SUSPENDS SECONDARY STOCK OFFERING

 REDWOOD CITY, Calif., Aug. 6 /PRNewswire/ -- Cygnus Therapeutic Systems (NASDAQ: CYGN), announced today it has suspended its 3,000,000 share common stock offering due to adverse market conditions. The company will continue to assess the market and expects to reinstate the offering when conditions improve.
 "The market climate in the health care industry has not been favorable due, in part, to uncertainty about President Clinton's health care reforms," according to Gregory Lawless, president and chief executive officer. "Cygnus will continue to aggressively develop and commercialize our products for the hormone replacement, glucose monitoring, smoking cessation and consumer products markets."
 Cygnus is a leader in the development of advanced transdermal drug delivery systems. The company's first commercial product, Nicotrol(R), a nicotine transdermal system for smoking cessation, was launched in 1992. Cygnus has more than a dozen products in various stages of development including two products in Phase III clinical trials: a 7-day estradiol transdermal system for the treatment of menopausal symptoms, and a fentanyl patch for moderate to severe postoperative pain management. In addition, there are six transdermal products in preclinical and clinical trials for the hormone replacement market, second generation nicotine replacement products for which an Investigational New Drug (IND) registration has been filed, a non- invasive glucose monitoring device and two consumer products which are currently consumer testing.
 -0- 8/6/93
 /CONTACT: Craig Carlson of Cygnus, 415-369-4300/
 (CYGN)


CO: Cygnus Therapeutic Systems ST: California IN: MTC SU: OFF

TM-LH -- SJ002 -- 0435 08/06/93 17:00 EDT
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Publication:PR Newswire
Date:Aug 6, 1993
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