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SYNERGEN REPORTS FIRST QUARTER FINANCIAL RESULTS

 SYNERGEN REPORTS FIRST QUARTER FINANCIAL RESULTS
 BOULDER, Colo., May 1 /PRNewswire/ -- Synergen Inc. (NASDAQ: SYGN)


reported revenues of $10,471,600 for the first quarter of 1992, compared to $2,982,800 for the like period in 1991. The company reported a net loss of $520,700 or 2 cents per share for the quarter, compared to a net loss of $2,318,500 or 14 cents per share for the quarter ended March 31, 1991. The revenue growth is primarily attributed to increased funding from Synergen Clinical Partners for the development of ANTRIL(TM) and a significant increase in interest income due to the company's successful fund-raising efforts in 1991.
 "During the quarter, ANTRIL, our lead product, entered Phase III clinical trials for sepsis syndrome," stated Kenneth J. Collins, vice president of finance and administration. "With our cash balance of approximately $300 million, we now have the resources in place to move additional products into clinical trials over the coming months."
 Synergen is a biopharmaceutical company engaged in the discovery, development and manufacture of protein based pharmaceuticals. The company's research is targeted toward products to treat inflammatory diseases, chronic ulcers and neurological diseases. Synergen's lead product, ANTRIL, is in clinical testing for seven indications including sepsis syndrome, rheumatoid arthritis and graft vs. host disease.
 SYNERGEN INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (unaudited)
 Three Months Ended
 March 31,
 1992 1991
 REVENUES:
 Sponsored research
 and development $ 6,101,000 $ 1,877,100
 Interest and other 4,370,600 1,105,700
 TOTAL REVENUES 10,471,600 2,982,800
 EXPENSES:
 Research and development 8,561,200 4,200,200
 General and
 administrative 2,349,700 975,800
 Interest 81,400 125,300
 TOTAL EXPENSES 10,992,300 5,301,300
 NET LOSS $ (520,700) $ (2,318,500)
 NET LOSS PER SHARE (.02) (.14)
 WEIGHTED AVERAGE
 COMMON SHARES
 OUTSTANDING 24,742,400 16,093,200
 SYNERGEN INC.
 CONSOLIDATED BALANCE SHEETS
 (unaudited)
 March 31, Dec. 31,
 1992 1991
 ASSETS
 CURRENT ASSETS:
 Cash and cash equivalents $128,473,900 $141,822,700
 Short-term investments 166,293,000 179,443,200
 Accounts receivable
 (No allowance for
 doubtful accounts
 considered necessary) 11,103,700 4,996,500
 Accrued interest receivable 4,666,500 2,878,200
 Prepaid expenses and
 other assets 872,100 828,500
 TOTAL CURRENT ASSETS 311,409,200 329,969,100
 Property and equipment, net 49,053,500 32,277,400
 Other assets 12,515,200 12,221,700
 TOTAL ASSETS $372,977,900 $374,468,200
 LIABILITIES AND STOCKHOLDERS' EQUITY
 CURRENT LIABILITIES:
 Accounts payable
 and accrued expenses $ 2,846,500 $ 4,608,400
 Unearned revenue 2,577,000 2,729,500
 TOTAL CURRENT LIABILITIES 5,423,500 7,337,900
 Long-term debt 6,000,000 6,000,000
 Stockholders' equity 361,554,400 361,130,300
 TOTAL LIABILITIES
 AND STOCKHOLDERS'
 EQUITY $372,977,900 $374,468,200
 -0- 5/1/92
 /CONTACT: Debra Catz Bannister of Synergen, 303-938-6242/
 (SYGN) CO: Synergen Inc. ST: Colorado IN: MTC SU: ERN


MC -- DV001 -- 5289 05/01/92 08:01 EDT
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Date:May 1, 1992
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