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MEDIMMUNE INCREASES SPENDING IN FOURTH QUARTER 1992 TO BUILD MARKETING PRESENCE

 GAITHERSBURG, Md., Feb. 10 /PRNewswire/ -- In the fourth quarter ended Dec. 31, 1992, MedImmune, Inc. (NASDAQ: MEDI) announced today, it acquired marketing rights and product inventory from Connaught Laboratories Inc. for CytoGam(TM) (requiring a $6.2 million one-time charge against earnings, as previously announced), and established a 14-person sales force to market CytoGam and to prepare for the possible introduction of Respivir(TM), a prophylactic for the leading cause of childhood pneumonia, recently submitted to the FDA for marketing approval.
 For the fourth quarter 1992, MedImmune had total revenue of $2.5 million and a net loss of $7.8 million, compared to 1991 fourth quarter results of $3.5 million in revenue and $0.1 million net earnings. Results for the fourth quarter included a $6.2 million one-time charge for costs related to the CytoGam product acquisition. Full year 1992 revenues totaled $13.1 million, with a net loss of $8.5 million (or 51 cents per share) compared to 1991 performance of $14 million revenue and $1.6 million net income (11 cents per share).
 "The results for the fourth quarter reflect the completion of MedImmune's reacquisition of CytoGam in late December," said Wayne T. Hockmeyer, Ph.D., chief executive officer. "During the quarter, we also filed a product license application with the FDA for our second product, Respivir. These achievements represent two important milestones in the development of MedImmune as an integrated company developing and marketing its own products. Though the reacquisition of CytoGam and the establishment of MedImmune's sales force will negatively impact short- term earnings, the company is now poised to generate increased sales revenue in future years, particularly when and if Respivir is approved by the FDA," added Dr. Hockmeyer.
 MedImmune, Inc., was founded in 1988 to develop, manufacture and market therapeutics and vaccines for the treatment and prevention of infectious diseases and cancers. The company's corporate headquarters are in Gaithersburg.
 MEDIMMUNE, INC.
 Selected Financial Information
 (In thousands, except per share data)
 Condensed Statements of Operations
 (Unaudited)
 Periods ended Quarter Year
 Dec. 31 1992 1991 1992 1991
 Revenues:
 Product sales $ 152 $ 497 $ 2,560 $ 5,623
 Research & development 2,313 3,037 10,491 8,329
 Total 2,465 3,534 13,051 13,952
 Costs and expenses:
 Production and quality 206 810 2,567 4,084
 Research and development 3,003 2,401 11,260 7,760
 General, admin. and marketing 1,424 615 3,845 1,647
 Product acquisition costs 6,213 -- 6,213 --
 Total 10,846 3,826 23,885 13,491
 Interest income, net 557 384 2,425 1,200
 (Loss) earnings before taxes (7,824) 92 (8,409) 1,661
 Provision for income taxes 20 -- 59 37
 Net (loss) earnings $(7,844) $ 92 $(8,468) $ 1,624
 (Loss) earnings per share $(0.47) $0.01 $(0.51) $0.11
 Shares used in computing
 earnings per share 16,632 16,378 16,742 14,956
 Condensed Balance Sheets
 (Unaudited)
 12/31/92 12/31/91
 Assets:
 Cash and marketable securities $46,860 $55,789
 Prepaid royalties 1,408 1,085
 Property and equipment, net 6,114 4,694
 Other assets 5,861 3,732
 Total $60,243 $65,300
 Liabilities and stockholders' equity:
 Accounts payable and accrued expenses $ 1,513 $ 2,963
 Obligations related to product acquisition 8,871 --
 Deferred revenue 195 4,079
 Product royalties payable 174 611
 Other liabilities 2,738 2,566
 Stockholders' equity 46,752 55,081
 Total $60,243 $65,300
 Common shares outstanding 13,386 13,286
 -0- 2/10/93
 /CONTACT: Emilio O. DiCataldo, senior vice president-finance and administration of MedImmune, 301-417-0770; or Anthony J. Russo, Ph.D., 212-979-9180, for MedImmune/
 (MEDI)


CO: MedImmune, Inc. ST: Maryland IN: MTC SU: ERN

GK-TS -- NY037 -- 5222 02/10/93 14:00 EST
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Date:Feb 10, 1993
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