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ONCOR, INC. REPORTS RECORD PRODUCT SALES OF $1.5 MILLION IN THE THIRD QUARTER, 1992

 ONCOR, INC. REPORTS RECORD PRODUCT SALES
 OF $1.5 MILLION IN THE THIRD QUARTER, 1992
 GAITHERSBURG, Md., Oct. 26 /PRNewswire/ -- Oncor, Inc. (NASDAQ: ONCR) today reported financial results for the quarter and nine months ended Sept. 30, 1992.
 Net product sales in the third quarter of 1992 increased by 101 percent to a record $1,543,330, compared with $769,206 in the third quarter of 1991. Total revenues, including grant and contract revenue, for the third quarter of 1992 were $1,642,979, an increase of 70 percent over the third quarter of 1991 of $969,206.
 The company recorded a net loss of $1,368,129, or $0.09 cents per share on a weighted average of 14,418,587 shares outstanding in the third quarter of 1992, compared with a net loss of $1,352,778, or $0.14 per share, on 10,016,251 weighted average shares. During the third quarter of 1992, investments in research and development increased to $1,273,357 as compared to $889,387 in the third quarter of 1991.
 Net product sales in the first nine months of 1992 increased by 45 percent to $3,969,730, compared with $2,740,707 in the first nine months of 1991. Total revenues, which included $1,050,000 in contract revenues in the nine months of 1991 period and $99,649 of grant revenue in the nine months of 1992 period, increased from $3,790,707 to $4,069,379 in the nine months ended Sept. 30, 1991 and 1992, respectively. The net loss of $6,193,199, or $0.45 per share on a weighted average of 13,892,433 shares outstanding for the nine months ended Sept. 30, 1992, includes a one-time net charge of $1,446,820 in order to terminate royalty payments required to be paid under a development contract, and compares with a net loss of $2,358,870, or $0.26 per share on a weighted average of 9,023,151 shares outstanding for the first nine months of 1991. As of Sept. 30, 1992, the company had cash, cash equivalents and short-term investments of $31 million.
 Stephen Turner, chairman and chief executive officer, said, "The introduction of new products during 1992, along with the increasing demand for our existing products, has had a significant impact on the growth of our product sales to $4 million for the first nine months of the year."
 ONCOR, INC.
 Statement of Operations
 (Unaudited)
 Periods ended Sept. 30 Three months Nine months
 1992 1991 1992 1991
 Gross revenues:
 Product sales $1,543,330 $769,206 $3,969,730 $2,740,707
 Contract -- 200,000 -- 1,050,000
 Grants 99,649 -- 99,649 --
 Gross revenues 1,642,979 969,206 4,069,379 3,790,707
 Operating expenses:
 Direct cost of sales 797,274 609,562 2,466,007 1,950,864
 Selling, general and
 administrative 1,248,214 896,668 3,552,576 2,363,934
 R&D 1,273,357 889,387 3,624,506 1,908,301
 Buyout of research &
 development contract -- -- 1,446,820 --
 Total operating exp. 3,318,845 2,395,617 11,089,909 6,223,099
 Loss from operations (1,675,866)(1,426,411) (7,020,530) (2,432,392)
 Other income (expense):
 Investment income 305,864 60,803 872,986 90,506
 Other income (expense) 1,873 12,830 (45,655) (16,984)
 Total other inc. (exp.) 307,737 73,633 827,331 73,522
 Net loss (1,368,129)(1,352,778) (6,193,199) (2,358,870)
 Net loss per share $(0.09) $(0.14) $(0.45) $(0.26)
 Weighted average
 shares outstanding 14,418,587 10,016,251 13,892,433 9,023,151
 -0- 10/26/92
 /CONTACT: Stephen Turner, George R. Evanega, Ph.D., or Rodney Dausch of Oncor, 301-963-3500, or fax, 301-926-6129/
 (ONCR) CO: Oncor, Inc. ST: Maryland IN: MTC SU: ERN


CK-MA -- NYM004 -- 4602 10/26/92 09:32 EST
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Publication:PR Newswire
Date:Oct 26, 1992
Words:664
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