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RIBI IMMUNOCHEM WITHDRAWS PUBLIC OFFERING

 HAMILTON, Mont., April 1 /PRNewswire/ -- Ribi ImmunoChem Research Inc. (NASDAQ: RIBI) announced today it has formally withdrawn its proposed public offering of 3,000,000 common shares. The decision was made following further consultation with Hambrecht & Quist Inc., the underwriter for the proposed offering, as well as other financial consultants.
 "Maintaining registration of the proposed stock offering amid a generally weak market for biotech issues served only to distract attention from the continued advancement of our product development programs," said Robert E. Ivy, chief executive officer, president and chairman. "It also limited our ability to discuss encouraging new milestones with the investing public.
 "As noted previously, our Phase III pivotal study of MELACINE(R) in late-stage melanoma patients is on schedule, as are our Phase II studies for our products for septic shock as well as reperfusion injury," Ivy said. "We continue to be enthusiastic about our relationship with SmithKline Beecham for the development of prophylactic vaccines for adult and pediatric applications. Our current financial situation is strong as well and allows us to continue to pursue all of these programs as planned."
 Ribi ImmunoChem Research Inc., a biopharmaceutical company founded in 1981, is a leader in the development of immunostimulants for use in preventing and treating human disease.
 -0- 4/1/93
 /CONTACT: Jeffrey S. McDowell, corporate information manager, of Ribi ImmunoChem Research, 406-363-6214, ext. 153/
 (RIBI)


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

AL-LM -- SE001 -- 1895 04/01/93 09:25 EST
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Publication:PR Newswire
Date:Apr 1, 1993
Words:248
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