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ONCOR REPORTS RECORD SALES FOR FIRST QUARTER 1993

 GAITHERSBURG, Md., May 12 /PRNewswire/ -- Oncor, Inc. (NASDAQ: ONCR) reported financial results for the first quarter ended March 31, 1993.
 Consolidated net sales in the first quarter of 1993 increased by 33 percent to a record $2.0 million, compared with $1.5 million in the first quarter of 1992. The Company recorded a consolidated net loss of $2.5 million or $0.16 per share in the first quarter of 1993, compared with a net loss of $3.0 million or $0.23 per share in the same period of 1992, which included a one-time net charge of $1.5 million or $0.11 per share in order to terminate royalty payments required under a research and development contract.
 As of March 31, 1993, the Company had cash, cash equivalents and short-term investments of $25.3 million.
 Stephen Turner, Chairman and Chief Executive Officer, said, "We are pleased with the continuing growth in our sales, which reflects the further expansion of our position in the commercialization of Human Genome technology for the early detection and management of cancer and other genetic diseases. Contributing to this growth in the first quarter of 1993 was the introduction of more than 40 new DNA probes during 1992 and the first quarter of 1993, and the introduction of the Company's new Image Analysis System in the first quarter of 1993."
 Oncor develops, manufactures and markets Human Genome-based test systems for use in the early detection and management of cancer and other genetic diseases.
 ONCOR, INC.
 Consolidated Statements Of Operations
 (unaudited)
 Three Months Ended March 31, 1993 1992
 Product sales $1,953,596 $1,493,192
 Operating Expenses:
 Direct cost of sales 886,286 927,346
 Selling, general and
 administrative 1,695,316 1,151,720
 Research and development 2,038,502 1,201,604
 Buyout of research and
 development contract -- 1,446,820
 Total operating expenses 4,620,104 4,727,490
 Loss from operations (2,666,508) (3,234,298)
 Other income (expense):
 Investment income 203,877 232,177
 Other expense (3,221) (9,807)
 Total other income (expense) 200,656 222,370
 Net loss ($2,465,852) ($3,011,928)
 Net loss per share ($0.16) ($0.23)
 Weighted-average common
 shares outstanding 15,431,280 13,291,224
 -0- 5/12/93
 /CONTACT: Robert Borchert, or Natasha Wilson, both of Morgen-Walke Associates, 212-986-5900, for Oncor, Inc./
 (ONCR)


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

LD -- NY003 -- 7352 05/12/93 08:00 EDT
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Publication:PR Newswire
Date:May 12, 1993
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