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QUEST BIOTECHNOLOGY REPORTS RESULTS OF FIRST QUARTER ENDED JAN. 31, 1992

QUEST BIOTECHNOLOGY REPORTS RESULTS OF FIRST QUARTER ENDED JAN. 31, 1992
 DETROIT, March 25 /PRNewswire/ -- Quest BioTechnology, Inc. (NASDAQ: QBIO) today announced results for its first quarter ended Jan. 31, 1992.
 Revenues for the quarter are attributable to sublicense fees received for the use of the company's patented technologies. The decline in net loss for the fiscal 1992 period was primarily attributable to lower general and administrative expenses and the recognition during the fiscal 1991 period of Quest's equity in the loss of an affiliated company, AM Diagnostics, Inc., amounting to $119,491. As of Oct. 31, 1991, Quest had written off its entire investment in AM Diagnostics, Inc.
 QUEST BIOTECHNOLOGY, INC.
 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
 (Unaudited)
 For the Quarter Ended Jan. 31,
 1992 1991
 Operating revenue $100,000 $200,000
 Operating expenses $116,882 $277,812
 Operating loss ($16,882) ($77,812)
 Net loss ($19,143) ($222,925)
 Net loss per share of common stock ($0.01) ($0.09)
 Weighted average number of common
 shares outstanding 2,391,079 2,391,079
 Quest BioTechnology, Inc. is a biotechnology company organized to acquire and commercialize health care products and technologies. Quest has two wholly owned subsidiaries, Polycell, Inc. and Quest Blood Substitute, Inc.
 -0- 3/25/92
 /CONTACT: Yvonne L. Marschner-Bova, director, investor relations, Quest BioTechnology, 313-873-0200/
 (QBIO) CO: Quest BioTechnology, Inc. ST: Michigan IN: MTC SU: ERN


SM -- DE004 -- 1412 03/25/92 09:51 EST
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Date:Mar 25, 1992
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