TELIOS ANNOUNCES FIRST QUARTER 1992 RESULTS
TELIOS ANNOUNCES FIRST QUARTER 1992 RESULTS SAN DIEGO, April 23 /PRNewswire/ -- Telios Pharmaceuticals Inc.
("Telios" or the "Company") (NASDAQ-NMS: TLIO) announced today financial results for its first quarter ended March 31, 1992. Revenues for the quarter were $527,000, a decrease from $787,000 for the same period last year. The Company incurred a net loss of $4,308,000 or $.25 per share, compared to $1,621,000 or $.10 per share for the same period in 1991. This increase was primarily the result of increased clinical, research and development activities.
Telios is developing a new class of therapeutic products based upon research into the role of the extracellular matrix. The Company is applying its proprietary technology to develop products for the treatment of severe and chronic dermal wounds, ophthalmic wounds, fibrotic disease, cardiovascular disease and osteoporosis. The Company currently is in clinical trials with two novel peptide-based products, Telio-Derm(TM), a treatment designed to accelerate healing of severe and chronic dermal wounds, and OcuNex(TM), an ophthalmic wound healing product. The common stock of Telios is traded on the NASDAQ National Market System under the symbol TLIO. -0- 4/23/92 /CONTACT: David Duncan Jr., VP-Finance, or Richard A. Kaufman, VP, Secretary and General Counsel, of Telios Pharmaceuticals, 619-622-2615/ (TLIO) CO: Telios Pharmaceuticals Inc. ST: California IN: MTC SU: ERN
JL-KJ -- SD009 -- 2201 04/23/92 18:11 EDT
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|Date:||Apr 23, 1992|
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