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MEDIMMUNE SIX MONTHS REVENUES $7.9 MILLION EARNINGS $0.3 MILLION

 MEDIMMUNE SIX MONTHS REVENUES $7.9 MILLION EARNINGS $0.3 MILLION
 GAITHERSBURG, Md., July 27 /PRNewswire/ -- MedImmune, Inc. (NASDAQ-MEDI) announced today that second quarter 1992 revenues were $4.1 million as compared to $4.3 million in second quarter 1991. Net earnings for the second quarter were $0.2 million, or $0.01 per share, versus $1.2 million, or $0.08 per share in second quarter 1991. Operating expenses for the 1992 second quarter increased $1.3 million to $4.6 million from $3.3 million in the 1991 quarter, including a 37% increase in research and development expenditures which rose to $2.6 million from $1.9 million in 1991.
 Revenue from shipments of CytoGam to MedImmune's distributor was $1.2 million in the 1992 second quarter versus $1.5 million in the 1991 second quarter. Research and development revenue increased to $2.9 million from $2.8 million in the 1991 second quarter.
 For the first half of 1992, revenues totaled $7.9 million compared to $8.0 million in the same period of 1991. Net earnings were $0.3 million or $0.02 per share, versus $1.5 million or $0.11 per share in the 1991 period. Operating expenses for the first half increased to $8.9 million in 1992 from $6.8 million in 1991. R & D expenses increased $1.6 million or 44 percent to $5.2 million in 1992 from $3.6 million in 1991. "These results were consistent with our objectives for the first half of 1992 and we are encouraged by MedImmune's continued progress," said Dr. Wayne T. Hockmeyer, president and chief executive officer.
 MedImmune, Inc. was founded in 1988 to develop and market therapeutics and vaccines for the treatment and prevention of infectious diseases and cancer.
 MedImmune, Inc.
 Selected Financial Information
 (In thousands, except per share data)
 Condensed Statements of Operations
 (Unaudited)
 Periods ended Three Months Six Months
 June 30 1992 1991 1992 1991
 Revenues:
 Product sales $ 1,213 $ 1,453 $ 2,408 $ 3,915
 Research and development 2,895 2,820 5,506 4,063
 Total 4,108 4,273 7,914 7,978
 Costs and expenses:
 Production and quality 1,149 989 2,223 2,405
 Research and development 2,648 1,943 5,167 3,631
 General and administrative 785 386 1,506 730
 Total 4,582 3,318 8,896 6,766
 Interest income, net 645 242 1,273 292
 Earnings before taxes 171 1,197 291 1,504
 Provision for income taxes -- -- 25 --
 Net earnings 171 1,197 266 1,504
 Earnings per share $0.01 $0.08 $0.02 $0.11
 Shares used in computing
 earnings per share 16,696 14,529 16,762 13,539
 Condensed Balance Sheets
 June 30, 1992 December 31,
 Assets: (Unaudited) 1991
 Cash and marketable securities $ 51,528 $ 55,789
 Prepaid royalties 891 1,085
 Property and equipment, net 4,885 4,694
 Other assets 4,204 3,732
 Total $ 61,508 $ 65,300
 Liabilities and stockholders' equity:
 Accounts payable & accrued exps. $1,359 $2,963
 Deferred revenue 939 4,079
 Product royalties payable 849 611
 Other liabilities 2,881 2,566
 Stockholders' equity 55,480 55,081
 Total $ 61,508 $ 65,300
 Common shares outstanding 13,319 13,286
 -0- 7/27/92
 /CONTACT: Emilio O. DiCataldo, senior vice president and chief financial officer of MedImmune, 301-417-0770, or Fredric Spar of Kekst and Company, 212-593-2655, for MedImmune/
 (MEDI) CO: MedImmune Inc. ST: Maryland IN: HEA SU: ERN


KD -- NY041 -- 3435 07/27/92 10:46 EDT
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Date:Jul 27, 1992
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