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LIDAK PHARMACEUTICALS REPORTS YEAR-END FINANCIAL RESULTS

 LIDAK PHARMACEUTICALS REPORTS YEAR-END FINANCIAL RESULTS
 LA JOLLA, Calif., Jan. 14 /PRNewswire/ -- LIDAK Pharmaceuticals


(NASDAQ: LDAKU,LDAKA) today reported a net loss of $1,949,588, or $.27 per share, on revenues of $547,875 for the year ended Sept. 30, 1991. For the year ended Sept. 30, 1990, the company reported a net loss of $2,319,231, or $.61 per share, on revenues of $371,522. The report on LIDAK's year-end financial statements issued by its independent auditors includes a qualifying statement as to the company's ability to continue as a going concern.
 According to Michael H. Lorber, LIDAK's chief financial officer, the company is currently in the process of raising additional capital which will alleviate the concerns identified by the auditors. "We believe that current financing efforts will be successful and will enable the company to continue its progress," said Lorber.
 LIDAK Pharmaceuticals is developing and commercializing innovative pharmaceutical and other products for the health care field. The company is focusing its efforts on the commercialization of LIDAKOL as a treatment for herpes and other indications, and the development of new therapeutic approaches for cancer, AIDS and autoimmune diseases based on technologies acquired through an exclusive 20-year technology license agreement with Medical Biology Institute.
 LIDAK PHARMACEUTICALS
 Consolidated Income Statement
 Year Ended Sept. 30,
 1991 1990
 Revenue $547,875 $371,522
 Net loss $(1,949,588) $(2,319,231)
 Net loss per share ($.27) ($.61)
 Weighted average
 shares outstanding 7,352,665 3,813,388
 -0- 1/14/92 R
 /CONTACT: Michael H. Lorber, VP-CFO of LIDAK Pharmaceuticals, 619-558-0364, or Elizabeth A. Gard of Rifkind Pondel & Parsons, 310-207-9300, for LIDAK Pharmaceuticals/
 (LDAKU, LDAKA) CO: LIDAK Pharmaceuticals ST: California IN: MTC SU: ERN


AL -- LA030 -- 9762 01/14/92 17:35 EST
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Date:Jan 14, 1992
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