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QUEST BIOTECHNOLOGY, INC. REPORTS RESULTS OF ITS SECOND QUARTER AND SIX MONTHS ENDED APRIL 30, 1993

 DETROIT, June 17 /PRNewswire/ -- Quest BioTechnology, Inc. (QBIO) today announced results of its operations for the second quarter and six months ended April 30, 1993. "We are pleased to report operating loss declined for the fiscal 1993 six-month period as a result of higher operating revenues and lower operating expenses. Operating revenues increased as a result of an increase in sublicense fee activity pertaining to the use of the company's patented technologies. The decline in operating loss for the fiscal 1993 quarter resulted from lower operating expenses," commented Eugene I. Schuster, chairman and president of Quest.
 QUEST BIOTECHNOLOGY, INC.
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 For the Three Months For the Six Months
 Ended April 30 Ended April 30
 1993 1992 1993 1992
 Operating revenues $32,500 $32,500 $207,500 $132,500
 Operating expenses $98,388 $113,310 $218,887 $230,192
 Operating loss ($65,888) ($80,810) ($11,387) ($97,692)
 Net loss ($65,462) ($81,827) ($11,280) ($100,970)
 Net loss per share
 of common stock ($0.02) ($0.03) --- ($0.04)
 Weighted average number
 of common shares
 outstanding 2,391,079 2,391,079 2,391,079 2,391,079
 Quest BioTechnology, Inc. is a biotechnology company organized to acquire, develop and commercialize human health care products and processes and to acquire ownership interests in entities which own such products and processes. Polycell, Inc. and Quest Blood Substitute, Inc. are subsidiaries of Quest.
 -0- 6/17/93
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations, Quest BioTechnology, Inc., 313-873-0200/


CO: Quest BioTechnology, Inc. ST: Michigan IN: MTC SU: ERN

JG -- DE009 -- 2974 06/17/93 09:55 EDT
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Date:Jun 17, 1993
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