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RIBI IMMUNOCHEM REPORTS THIRD QUARTER FINANCIAL RESULTS

 HAMILTON, Mont., Oct. 28 /PRNewswire/ -- Ribi ImmunoChem Research Inc. (NASDAQ: RIBI) announced today its financial results for the third quarter and nine months ended Sept. 30, 1993.
 Total revenues for the third quarter ended Sept. 30, 1993, increased 87 percent as a result of higher license and option fees and contract research revenues, achieving $1,080,519 as compared to $577,855 for the comparable period in 1992. Sales achieved $268,194 for the third quarter of 1993 as compared to $296,777 for the comparable period in 1992.
 The net loss for the third quarter ended Sept. 30, 1993, was $712,638 or 5 cents per share, as compared to a net loss of $824,105 or 6 cents per share for the third quarter of 1992.
 Total revenues for the nine months ended Sept. 30, 1993 increased 66 percent as a result of higher license and option fees, investment income and contract research revenues, achieving $2,631,296 as compared to $1,586,642 for the comparable period in 1992. Sales achieved $714,521 for the first nine months of 1993 as compared to $914,986 for the comparable period in 1992.
 The net loss for the nine months ended Sept. 30, 1993, was $2,388,337 or 17 cents per share, as compared to a net loss of $2,582,861 or 20 cents per share for the comparable period of 1992.
 "The continued growth of our revenue base is reflective of the acceptance our adjuvants are receiving for use in human vaccines for prophylaxis against infection," said Robert E. Ivy, chief executive officer, president and chairman. "Of particular importance was the signing of a letter of intent with Lederle-Praxis during this period providing access to our adjuvants for a group of vaccines they are developing. The increased income from license fees will allow us to pursue aggressive product development plans for our own proprietary products."
 RIBI IMMUNOCHEM RESEARCH INC.
 SUMMARY OF OPERATIONS
 (Unaudited)
 Three months ended Nine months ended
 Sept. 30, 1993 1992 1993 1992
 Revenues:
 Sales $ 268,194 296,777 714,521 914,986
 License and
 option fees 525,000 30,000 975,000 60,000
 Contract services 73,313 -- 231,154 --
 Investment and
 other 214,012 251,078 710,621 611,656
 Total 1,080,519 577,855 2,631,296 1,586,642
 Costs and
 expenses 1,793,157 1,401,960 5,019,633 4,169,503
 Net loss $ (712,638) (824,105) (2,388,337) (2,582,861)
 Net loss per
 common share $ (.05) (.06) (.17) (.20)
 Average number
 of shares
 outstanding 14,165,520 13,575,241 14,153,984 13,037,048
 CONDENSED BALANCE SHEETS
 Sept. 30 Dec. 31
 1993 1992
 (Unaudited)
 Current assets, principally
 cash and short-term
 investments $ 8,135,294 8,756,774
 Long-term investments 7,959,436 9,905,440
 Property, plant and
 equipment, net 4,691,979 4,279,413
 Other assets, net 565,251 426,098
 Total $ 21,351,960 23,367,725
 Current liabilities $ 540,123 577,806
 Long-term debt -- --
 Stockholders' equity 20,811,837 22,789,919
 Total $ 21,351,960 23,367,725
 -0- 10/28/93
 /CONTACT: Vern D. Child, vice president-finance, or Jeffrey S. McDowell, corporate information manager, of Ribi ImmunoChem, 406-363-6214/
 (RIBI)


CO: Ribi ImmunoChem Research Inc. ST: Montana IN: MTC SU: ERN

RB-JH -- SE002 -- 7767 10/28/93 09:54 EDT
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Date:Oct 28, 1993
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