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LIDAK PHARMACEUTICALS REPORTS FIRST QUARTER FINANCIAL RESULTS

 LA JOLLA, Calif., Feb. 16 /PRNewswire/ -- LIDAK Pharmaceuticals, (NASDAQ: LDAKA), today reported a net loss of $615,276, or five cents per share, on revenues of $171,364 for the first quarter ended Dec. 31, 1992 compared with a net loss of $538,815, or eight cents per share, on revenues of $119,6000 reported during the same period in 1991.
 LIDAK Pharmaceuticals is developing pharmaceutical products for the health care industry. LIDAK is currently focusing its efforts on the commercialization of LIDAKOL(TM) as a treatment for herpes and other indications. Also, the company is developing its Large Multivalent Immunogen technology for potential new therapies against cancer and viral diseases. The company's longer-term projects include the development of proprietary technology for potential new therapeutic and diagnostic approaches to diabetes, cancer and AIDS.
 LIDAK PHARMACEUTICALS
 Statement of Operations
 Quarter ended Dec. 31 1992 1991
 Revenues $171,364 $119,600
 Net loss (615,276) (538,815)
 Net loss per share (0.05) (0.08)
 Weighted average
 shares outstanding 13,611,787 7,031,750
 -0- 2/16/93
 /CONTACT: Michael Lorber, vice president and CFO of LIDAK, 619-558-0364, or Cathleen Mayrose of Dewe Rogerson, 212-688-6840, for LIDAK/
 (LDAKA)


CO: LIDAK Pharmaceuticals ST: California IN: MTC SU: ERN

AH-SM -- NY037 -- 6804 02/16/93 10:31 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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