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EPITOPE REPORTS FIRST-QUARTER RESULTS, RECENT DEVELOPMENTS

 EPITOPE REPORTS FIRST-QUARTER RESULTS, RECENT DEVELOPMENTS
 BEAVERTON, Ore., Feb. 14 /PRNewswire/ -- Epitope Inc. (AMEX: EPT) today reported revenues of $576,202 and a loss of $1,706,415 (20 cents per share) for the quarter ended Dec. 31, 1991. These results compare to revenues of $814,763 and a loss of $774,692 (11 cents per share) for the quarter ended Dec. 31, 1990.
 Research and development expenses were $1,064,789 for the quarter ended Dec. 31, 1991, a 38-percent increase over the amount incurred in the corresponding quarter of fiscal 1991. The increase was principally due to expanded research efforts in the field of oral specimen-based diagnostics and accelerated research activities at its Agritope agricultural biotechnology unit.
 "The EPIblot(R) AIDS confirmatory test kit manufacturing unit operated well below capacity as our distributor, Organon Teknika Corp., worked down excess inventories. The resulting decrease in product revenues was partially offset by product revenues and technology fees from our OraSure(R) oral specimen device which is being sold in the United State for limited insurance testing uses and to several foreign countries, pending Food and Drug Administration (FDA) approval for U.S. commercial distribution," said Adolph J. Ferro, president and chief executive officer. He noted that Epitope is in the process of making changes to improve its EPIblot distribution system; the present contract with Organon Teknika is up for renewal in March 1992.
 With respect to OraSure technology, the company recently received a notice of allowance from the U.S. Patent Office with respect to a patent application involving OraSure specimen collection device. The patent is expected to be issued in the summer of 1992. The first U.S. patent involving OraSure technology was issued in June 1991.
 The company also received notification that the U.S. Food and Drug Administration has approved export of the OraSure specimen collection device for use in HIV-1 testing in Brazil, Denmark, Indonesia, New Zealand, Spain and Switzerland. Export approval was previously obtained for Australia, Belgium, Canada, Hong Kong, Ireland, Italy and Thailand.
 Epitope scientists continued work on a research project to treat cancer by taking advantage of a deficiency of a specific enzyme in cancer cells. The company recently received an award of $165,052 from the National Cancer Institute to support the project through Jan. 1, 1993.
 The company also announced that its collaboration with SmithKline Beecham to develop antiprotozoal compounds will be terminated effective Aug. 4. Epitope's research work in the collaboration was funded in December 1989 by a $1 million investment in Epitope common stock. Epitope will continue its efforts to develop and commercialize the compounds.
 Reporting on another recent patent action, the company disclosed that it had been granted a U.S. patent for a device used to test an elastic membrane for permeability of submicroscopic particles. The device is used for testing the effectiveness of surgical gloves and condoms designed to protect the wearer from infectious material. The company intends to license the use of the device to various manufacturers.
 Epitope Inc. is an Oregon corporation utilizing biotechnology to develop diagnostic tests for AIDS and other indications, therapeutic antimicrobial drugs and, through its agricultural unit, Agritope Inc., superior new plant varieties.
 A tabulation of results follows:
 EPITOPE INC.
 (In thousands, except per share data)
 Three Months Ended Dec. 31: 1991 1990
 Operating Highlights:
 Revenues $ 576 $ 815
 Net loss (1,706) (775)
 Net loss per share (0.20) (0.11)
 Dec. 31: 1991 1990
 Selected Balance Sheet Data:
 Working capital $ 9,482 $ 6,006
 Assets 13,426 8,737
 Shareholders' equity 12,940 8,008
 -0- 2/14/92
 /CONTACT: Mary Hagen of Epitope, 503-641-6115; or Shari Annes of Annes Associates, 415-726-5400, for Epitope/
 (EPT) CO: Epitope Inc. ST: Oregon IN: MTC SU: ERN


LM-JH -- SE007 -- 0398 02/14/92 17:17 EST
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Date:Feb 14, 1992
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