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T CELL SCIENCES REPORTS FISCAL YEAR 1992 FINANCIAL RESULTS

 T CELL SCIENCES REPORTS FISCAL YEAR 1992 FINANCIAL RESULTS
 CAMBRIDGE, Mass., June 22 /PRNewswire/ -- T Cell Sciences, Inc., (NASDAQ: TCEL), today announced financial results for the fourth quarter and fiscal year ended April 30, 1992. In the fourth quarter, revenues totaled $2,713,000 and expenses were $4,266,000, resulting in a net loss (after subtracting the subsidiary company, T Cell Diagnostics, minority shareholder's portion of the loss) of $1,497,000 (11 cents per share). In the comparable period last year, there was a net loss of $941,000 (9 cents per share), on revenues of $2,783,000 and expenses of $3,724,000.
 For the fiscal year, the company reported revenues of $10,477,000, expenses of $15,372,000 and a resulting net loss (after subtracting the subsidiary company, T Cell Diagnostics, minorty shareholder's portion of the loss) of $4,649,000 (35 cents per share). In the prior fiscal year, there where revenues of $11,149,000, expenses of $14,590,000 and a resulting net loss of $3,441,000 (34 cents per share). The company's cash position as of April 30, 1992 was $22,063,000.
 "The results reflect a decrease in research support for our complement inhibitor sCR1, as the product moves toward the clinical phase of development which is the direct responsibility of our partner, SmithKline Beecham," said Alan W. Tuck, president and chief executive officer of T Cell Sciences. "In addition, the results reflect the planned growth in the T Cell Sciences and T Cell Diagnostics' organizations to ensure that they are positioned to capitalize on current and emerging product opportunities.
 "In fiscal 1993, we expect to acheive a number of key milestones," Tuck continued, including the entry of sCR1 into clinical trials, initially for the treatment of adult respiratory distress syndrome; a regulatory filing to market TRAx(tm) CD4, the first of a new generation of cell enumeration products useful in immune monitoring; and the acceleration of our T cell antigen receptor program through the support of our development partner, AB Astra." The agreement with Astra, which was signed in January 1992, will provide up to $32 million over the next several years for the T cell antigen receptor program.
 Located in Cambridge, Mass, T Cell Sciences, Inc. is utilizing proprietary T cell receptor and soluble receptor technology to develop pharmaceutical products to treat diseases of inflammation, autoimmunity and cancer. T Cell Diagnostics, Inc., an 84 percent owned subsidiary of T Cell Sciences, develops, manufactures, and markets highly innovative diagnostic and research products around the world.
 COMPARATIVE STATEMENT OF OPERATIONS
 Quarters Ended April 30
 1992 1991
 Revenues:
 Product $1,188,000 $1,364,000
 Product development 1,215,000 1,147,000
 Interest 310,000 272,000
 Total revenues 2,713,000 2,783,000
 Total operating
 expenses 4,266,000 3,724,000
 Net loss before
 minority interest (1,553,000) --
 Minority interest
 share of loss 55,000 --
 Net loss after
 minority interest $(1,497,000) $(941,000)
 Net loss per share (11 cents) (9 cents)
 Weighted average common
 shares outstanding 13,285,000 10,333,000
 Years Ended
 April 30
 1992 1991
 Revenues:
 Product $4,141,000 $4,076,000
 Product development 4,775,000 6,164,000
 Interest 1,561,000 909,000
 Total revenues 10,477,000 11,149,000
 Total operating
 expenses 15,372,000 14,590,000
 Net loss before
 minority interest (4,895,000) (3,441,000)
 Minority interest
 share of loss 246,000 --
 Net loss after
 minority interest $(4,649,000) $(3,441,000)
 Net loss per share (35 cents) (34 cents)
 Weighted average
 common shares
 outstanding 13,109,000 10,166,000
 -0- 6/22/92
 /CONTACT: Alan W. Tuck, president and chief executive officer; or Susan Primrose, manager, corporate development & communications, 617-621-1400, of T-Cell Sciences, Inc./
 (TCEL) CO: T Cell Sciences ST: Massachusetts IN: MTC SU: ERN


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Date:Jun 22, 1992
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