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ONCOR REPORTS RECORD SALES FOR SECOND QUARTER AND SIX MONTHS OF 1993

 GAITHERSBURG, Md., Aug. 5 /PRNewswire/ -- Oncor, Inc. (NASDAQ: ONCR) reported record sales for the second quarter and six months ended June 30, 1993.
 Net sales in the second quarter of 1993 increased by 44 percent to a record $2.1 million, compared with $1.5 million in the first quarter of 1992. The company recorded a net loss of $2.7 million or $0.17 per share in the second quarter of 1993, compared with a net loss of $1.8 million or $0.12 per share in the same period of 1992.
 For the six months ended June 30, 1993, net sales increased by 37 percent to a record $4.0 million, compared with $2.9 million in the same period in 1992. Net loss for the six month period was $5.1 million or $0.33 per share compared with a net loss of $4.8 million or $0.34 per share in the same period of 1992. The loss for the 1992 six-month period included a net charge of $1.4 million or $0.11 per share in order to terminate royalty payments required under a research and development contract.
 As of June 30, 1993, the company had cash, cash equivalents and short-term investments of approximately $22 million.
 Stephen Turner, chairman and chief executive officer, said, "Our sales continue to grow with a 37 percent increase in the first six months of 1993 attributable to new product releases and increased demand for our existing product portfolio, primarily our genetic probes and reagents. We are particularly pleased with our increase in gross profit as a percentage of product sales, from 41 percent in the second quarter of 1992 to 54 percent in the second quarter of 1993."
 "Our strategic expansion in the development and commercialization of Human Genome technology is continuing on track, supported by external research and gene-licensing agreements in conjunction with our own internal research and development activities. We have introduced over 66 new DNA probes and products during 1992 and the first half of 1993. Results to date of our clinical trials have validated clinical utility of our probes, and we expect to file PMA applications with the FDA by year-end," Mr. Turner concluded.
 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)
 Periods Ended Three Months Six Months
 June 30, 1993 1992 1993 1992
 Product sales $2,087,417 $1,454,256 $4,041,013 $2,947,448
 OPERATING EXPENSES:
 Direct cost of sales 961,524 859,345 1,847,810 1,786,691
 Selling, general and
 administrative 1,840,108 1,318,784 3,535,424 2,470,505
 Research and
 development 2,131,270 1,371,154 4,169,772 2,572,758
 Buyout of research and
 development contract -- -- -- 1,446,820
 Total operating
 expenses 4,932,902 3,549,283 9,553,006 8,276,774
 Loss from
 operations (2,845,485) (2,095,027) (5,511,993) (5,329,326)
 Other income
 (expense) 170,792 283,072 371,448 505,442
 Net loss ($2,674,693) ($1,811,955) ($5,140,545) ($4,823,884)
 Net loss per share ($0.17) ($0.12) ($0.33) ($0.34)
 Weighted-average
 common shares
 outstanding 15,670,582 14,917,167 15,465,204 14,115,814
 -0- 8/5/93
 /CONTACT: Robert Borchert, or Eileen English, both of Morgen-Walke Associates, 212-850-5600, for Oncor, Inc./
 (ONCR)


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

LD -- NY007 -- 9670 08/05/93 08:00 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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