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IMRE CORPORATION ANNOUNCES FIRST QUARTER RESULTS

 SEATTLE, April 7 /PRNewswire/ -- IMRE Corporation (NASDAQ: IMRE) today announced results for the quarter ended March 31, 1993. PROSORBA(R) column sales for the quarter increased 51 percent to $1,507,064, compared with $1,000,340 for the same period in 1992. The company reported a net loss for the quarter of $1,323,453, or $0.09 per share, compared with a net loss of $547,193, or $0.04 per share, for the first quarter of last year. The increased loss is due to increased expenditures for marketing and sales and increased research and development activities.
 IMRE CORPORATION
 Condensed Financial Data
 (In thousands, except per share data)
 Three Months Ended March 31 1993 1992
 Sales $1,507 $1,000
 Interest income 38 118
 Total revenues 1,545 1,118
 Expenses 2,868 1,665
 Net loss (1,323) (547)
 Net loss per share $(0.09) $(0.04)
 Weighted average number of shares
 outstanding during the period 14,038 14,014
 Product sales for the first quarter of 1993 returned to the same rate of growth established since the first quarter of 1991. The drop in sales that occurred in the fourth quarter of 1992 can be attributed directly to the delay of the FDA in conducting and completing its inspection of the company's new manufacturing facility. The resumption of product sales to the previously expected level indicates that the medical community continues to accept the PROSORBA column technology as a valuable addition to the available medical armamentarium.
 IMRE Corporation is a medical products company that is the leader in the field of immunoadsorption. The company's first product, the PROSORBA column, is marketed and sold for treatment of immune thrombocytopenic purpura, an immune-related bleeding disorder. The company is currently conducting clinical trials in rheumatoid arthritis, other autoimmune diseases and certain cancers.
 -0- 4/7/93
 /CONTACT: Paul Self of IMRE, 206-298-9400, or Ron Stabiner of the Wall Street Group, 212-888-4848, for IMRE/
 (IMRE)


CO: IMRE Corporation ST: Washington IN: MTC SU: ERN

SM-S -- NY011 -- 0233 04/07/93 09:24 EDT
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Publication:PR Newswire
Date:Apr 7, 1993
Words:343
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