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SPECTRASCIENCE REPORTS SECOND QUARTER LOSS

 MINNEAPOLIS, July 23 /PRNewswire/ -- SpectraScience, Inc. (NASDAQ: SPSC) today announced a net loss of $728,320, equal to 5 cents per share, for the second quarter ended June 30, 1993, compared with a loss of $1,027,237, or 11 cents per share, for the second quarter a year ago. Revenues in the 1993 quarter were $2,963, compared with $60,448 in last year's second quarter.
 The company announced in October 1992 that it was focusing its development efforts on a diagnostic system using laser induced fluorescence to identify and characterize vascular disease. A system consisting of a control console utilizing a 337nm wavelength laser and a disposable "smart" diagnostic guidewire is currently undergoing clinical trials.
 SpectraScience designs, develops, manufactures and markets laser- enhanced systems for the diagnosis and treatment of cardiovascular disease. The laser diagnostic system currently is the main focus of the company's development efforts. SpectraScience is based in Minneapolis.
 SpectraScience, Inc.
 Statements of Operations
 (Unaudited)
 Three months ended Six months ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenue $2,963 $60,448 $34,327 $177,342
 Costs of products sold 31,800 99,550 90,322 254,138
 Expenses:
 Research and
 development 396,919 448,774 1,099,100 880,463
 Selling, general and
 administrative 320,889 716,850 699,204 1,181,416
 Less interest and other
 (income) and
 expenses (18,325) (177,489) (57,032) (196,976)
 Total expenses 699,483 988,135 1,741,272 1,862,901
 Net loss ($728,320) ($1,027,237)($1,797,267)($1,939,697)
 Net loss per share ($0.05) ($0.11) ($0.14) ($0.23)
 Weighted average
 common shares 13,749,549 9,258,192 12,784,751 8,525,050
 -0- 7/23/93
 /CONTACT: Curt Swenson of Swenson Falker Eilertsen, 612-371-0000, for SpectraScience; or Tom Ahmann of SpectraScience, 612-559-4000/
 (SPSC)


CO: SpectraScience, Inc. ST: Minnesota IN: MTC SU: ERN

AL -- MN008 -- 5088 07/23/93 11:14 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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