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PERSEPTIVE BIOSYSTEMS, INC. ANNOUNCES FIRST QUARTER RESULTS

 CAMBRIDGE, Mass., Feb. 2 /PRNewswire/ -- PerSeptive Biosystems, Inc. (NASDAQ: PBIO) today reported results for the first quarter ended Dec. 31, 1992. Revenues for the quarter were $3,209,000, compared with revenues of $495,000 for the quarter ended Dec. 31, 1991. There was a net loss for the quarter of $268,000, or 3 cents per share, compared with a net loss of $986,000, or 19 cents per share, in the comparable period in 1991. Growth in revenues reflects an increase in product sales as well as funding from PerSeptive Technologies Corp., an independent research and development corporation.
 Noubar B. Afeyan, Ph.D., president and chief executive officer of the company, commented: "We are pleased with our continuing growth, which reflects increasing acceptance of our products for purification and analysis of biomolecules. The foundation that we've laid for the use of our products will reap increasing benefits from our existing products and our newer product introductions, including POROS(R) 50, the Real-Time Process Monitor(tm) (RPM(tm)) and the AutoPilot(tm) System."
 The POROS 50 product line extends the application of the company's patented Perfusion Chromatography(R) technology to the low-pressure operations typically used in biopharmaceutical manufacturing. RPM is the first instrument that performs real-time immunoassays, enabling biopharmaceutical developers and manufacturers to track the concentration and purity of target biomolecules continuously. The AutoPilot System for pilot-scale purification of biopharmaceuticals permits rapid scale-up of validated methods to kilogram-scale production of biopharmaceuticals.
 PerSeptive Technologies Corporation (PTC) was formed by PerSeptive in December to pursue three clinical diagnostic applications of PerSeptive's technology and one project in therapeutic drug screening. PerSeptive has exclusively licensed to PTC certain of its core technologies relating to these applications and PTC has retained PerSeptive to perform research and development on these technologies.
 PerSeptive Biosystems designs, manufactures and markets proprietary products and systems for the purification and analysis of biomolecules. These bioseparations products are designed to reduce significantly the time and cost required for the development and manufacture of biopharmaceuticals. The company's current and planned products for the purification and analysis of biomolecules are based on three interrelated core technologies: Perfusion Chromatography, ImmunoDetection(tm) and Rational Surface Design(tm).
 Perfusion Chromatography and POROS are registered trademark and ImmunoDetection, Rational Surface Design, Real-Time Process Monitor and AutoPilot are trademarks of the company.
 PERSEPTIVE BIOSYSTEMS, INC.
 Selected Financial Information
 Selected Income Statement Data
 (in thousands except share data)
 Three Months Ended
 Dec. 31,
 1992 1991
 Revenues $3,209 $495
 Costs and expenses:
 Cost of goods sold 958 185
 Research and development 906 617
 Selling, general and
 administrative 1,730 710
 Loss from operations (385) (1,017)
 Interest income 157 31
 Other expense (40) --
 Net loss ($268) ($986)
 Net loss per share (3 cents) ---
 Weighted average common
 shares outstanding 9,072,315 ---
 Pro forma net loss per
 share --- (19 cents)
 Pro forma weighted average
 common shares outstanding --- 6,666,558
 Selected Balance Sheet Data
 Dec. 31 Sept. 30
 1992 1992
 Cash and investments $15,426,000 $17,174,000
 Total assets $23,068,000 $22,209,000
 Total indebtedness $304,000 $365,000
 Total stockholders equity $19,443,000 $19,297,000
 -0- 2/2/93
 /CONTACT: Robert A. Fein, vice president and CFO of PerSeptive Biosystems, 617-621-1787, or Pam Haslam, senior vice president of Feinstein Partners, 617-577-8110, for PerSeptive Biosystems/
 (PBIO)


CO: PerSeptive Biosystems ST: Massachusetts IN: MTC SU: ERN

SJ -- NE001 -- 1666 02/02/93 08:31 EST
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Date:Feb 2, 1993
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