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EDITEK, INC. ANNOUNCES FIRST QUARTER RESULTS

 BURLINGTON, N.C., May 14 /PRNewswire/ -- EDITEK, Inc. (AMEX: EDI.EC) reported today that its revenues for the first quarter were $657,413, a decrease of 10 percent from revenues of $733,911 during the quarter ended March 31, 1992. The net loss for the quarter was $506,830 as compared with $262,930 for the quarter ended March 31, 1992.
 "The revenue and income numbers for our first quarter were not unexpected," said James D. Skinner, President and C.E.O. "EDITEK introduced to the marketplace its second generation VERDICT(R) One-Step Drugs of Abuse Assays and began shipping the VERDICT Cocaine test in February. Substance abuse testers, however, require the availability of assays for marijuana as well as cocaine. We expect sales of VERDICT to increase upon the availability of the VERDICT Cannabinoids (marijuana) test. The active marketing of VERDICT, to some degree, caused EZ-SCREEN(TM) customers to postpone their EZ-SCREEN purchases resulting in a decrease of drugs of abuse sales versus last year. Our first quarter sales, on a period-to-period basis, were also adversely affected by the absence this year of a $58,000 order for the Company's Sulfa-On-Site test to a foreign government customer that existed during the first quarter last year."
 EDITEK has continued to attract equity investments. Three private placements have been completed this year totaling $1,120,000 providing the Company with total cash in excess of $2,000,000. This strong cash position has enabled the Company to vigorously protect its patent portfolio and technology asset base. The most significant expense the Company incurred during the first quarter was the legal expense associated with the litigation with Disease Detection International."
 EDITEK has made significant progress and achieved many accomplishments to date, including:
 1. Equity financing totaling $1,120,000.
 2. Introduction of the Company's new one-step drugs of abuse assays
 - VERDICT Opiates test and VERDICT Cocaine test.
 3. The successful development of several EZ-SCREEN and RECON
 one-step assays for the United States Department of Defense.
 4. The creation of diAGnostix, inc., a joint venture with
 Rhone-Poulenc Diagnostics, Ltd., dedicated to the sales,
 marketing and distribution of agridiagnostic and food safety
 testing products.
 5. The issuance of a new patent - Multi-Layered Test Card, Patent
 No. 5,202,268.
 EDITEK, Inc. is an emerging, biodiagnostic company with patented technology for the performance of rapid, on-site assays including one-step assays. The Company currently sells products for the human/clinical, drugs of abuse and agridiagnostics/food safety testing markets. EDITEK also has research, development and supply agreements with Farnam Companies and the United States Department of Defense for veterinary diagnostics and tests for biological substances respectively.
 EDITEK, INC.
 Statements of Operations
 (Unaudited)
 Quarters Ending March 31,
 1993 1992
 Revenues $ 657,413 $ 733,911
 Cost of goods sold 394,654 470,664
 Gross profit $ 262,759 $ 263,247
 Operating expenses 769,589 526,177
 Net loss $ (506,830) $ (262,930)
 Loss per share of
 common stock ($.10) ($.08)
 Weighted average of shares
 of common stock outstanding 4,975,423 3,204,465
 -0- 5/14/93
 /CONTACT: Peter Heath, Vice President Finance and Chief Financial Officer, EDITEK, Inc., 919-226-6311/
 (EDI)


CO: EDITEK, Inc. ST: North Carolina IN: HEA MTC SU: ERN

JM -- CH007 -- 8781 05/14/93 16:27 EDT
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Date:May 14, 1993
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