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SYSTEMIX REPORTS THIRD QUARTER AND NINE MONTH RESULTS

 PALO ALTO, Calif., Nov. 15 /PRNewswire/ -- SyStemix, Inc. (NASDAQ-NMS: STMX) today reported its financial results for the third quarter ended Sept. 30, 1993. Revenues totaled $1.37 million compared to $3.98 million for the same period in 1992. Net loss was $6.09 million, ($0.62) per share, versus net income of $2.22 million or $0.22 per share in 1992.
 For the nine months ending Sept. 30, 1993, SyStemix incurred a net loss of $12.62 million or ($1.30) per share, versus a loss of $13.67 million or ($1.47) per share in 1992. In 1992, the net loss of $13.67 million included a one time special charge of $12.18 million relating to the Sandoz acquisition.
 "Once again, SyStemix' quarterly results are in line with expectations and indicative of the research and development projects the Company has underway," said Linda Sonntag, Ph.D., President and Chief Executive Officer. "SyStemix continues to make steady progress toward the initiation of clinical trials. We are enhancing our research and development capabilities with increased staffing and the expansion of our research and development facilities, as well as our new cellular processing center which is in the final stages of construction in Lyon, France and will be deployed for our clinical trials. Additionally, we are substantially enhancing our manufacturing capabilities with a GMP manufacturing facility that is currently under construction in Palo Alto. This facility will also house our U.S. based cellular processing center for the launch of clinical trials."
 SyStemix, Inc. is primarily engaged in the development of cellular processes and cellular products based on human hematopoietic stem cells and human megakaryocyte progenitors.
 SYSTEMIX, INC.
 Selected Financial Highlights
 (In thousands, except per share data)
 (Unaudited)
 Statement of Operations Data
 Periods ended Three months Nine months
 Sept. 30, 1993 1992 1993 1992
 Total revenues $ 1,370 $ 3,979 $ 4,178 $ 4,186
 Expenses:
 Total research & dev. 6,838 2,697 15,852 7,162
 General & Administrative 2,120 1,331 6,092 3,710
 Special charge related
 to Sandoz acquisition -- -- -- 12,175
 Total operating expenses 8,958 4,028 21,944 23,047
 Loss from operations ($7,588) ($ 49) ($17,766) ($18,861)
 Net loss ($6,088) $2,220 ($12,623) ($13,669)
 Net loss per share ($0.62) $0.22 ($1.30) ($1.47)
 Shares used in computing
 net loss per share 9,747 9,961 9,734 9,270
 -0- 11/15/93
 /CONTACT: Susan Gilbert, vice president and CFO of SyStemix, 415-856-4901, or Rhonda Chiger of Noonan/Russo Communications, 212-696-4455/
 (STMX)


CO: SyStemix, Inc. ST: California IN: MTC SU: ERN

MP-SH -- NY032 -- 4405 11/15/93 12:08 EST
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Publication:PR Newswire
Date:Nov 15, 1993
Words:445
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