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TELIOS ANNOUNCES FIRST QUARTER 1993 RESULTS

 SAN DIEGO, April 26 /PRNewswire/ -- Telios Pharmaceuticals Inc. (NASDAQ: TLIO) announced today results for its first quarter ended March 31, 1993. Revenues for the quarter were $422,000, a decrease from $527,000 for the same period last year. The company reported a net loss for the quarter of $4,956,000, or $.22 per share, compared to a net loss of $4,308,000, or $.25 per share, for the same period in 1992.
 The increased net loss for 1993 was primarily the result of increased investment in research, clinical development, and manufacturing activities and lower revenues because of the discontinuance of sales of "Research Use Only" products following the sale of assets used for such purposes in the fourth quarter of 1992.
 Telios is a leader in the development of a new class of therapeutic products that modify or mimic extracellular matrix functions in tissue repair and disease. The company is applying its proprietary technology to develop products for the treatment of severe and chronic dermal wounds, ophthalmic wounds, fibrotic diseases (such as certain kidney diseases), cardiovascular disease, and osteoporosis.
 TELIOS PHARMACEUTICALS INC.
 Condensed Balance Sheets
 (In thousands)
 March 31, Dec. 31,
 1993 1992
 (Unaudited)
 Assets
 Current assets $37,653 $16,222
 Property 11,622 11,461
 Other assets 655 710
 Total assets $49,930 $28,393
 Liabilities and
 Shareholders' Equity
 Current liabilities $2,888 $3,189
 Other liabilities 6,777 6,477
 Shareholders' equity 40,265 18,727
 Total liabilities and
 shareholders' equity $49,930 $28,393
 TELIOS PHARMACEUTICALS INC.
 Condensed Statements of Operations
 (In thousands, except per share amounts)
 Three Months Ended March 31,
 1993 1992
 (Unaudited)
 Revenues $422 $527
 Costs and Expenses
 Cost of product sales --- 106
 Research and development 4,266 3,939
 General and administrative 913 732
 Marketing and sales 107 150
 Equity in net (income) loss
 of European joint venture 58 (7)
 Total costs and expenses 5,344 4,920
 Other income (expense), net (34) 85
 Net loss ($4,956) ($4,308)
 Net loss per share ($.22) ($.25)
 Weighted average shares
 outstanding 22,692 17,389
 -0- 4/26/93
 /CONTACT: Audrey D. Keane (press), director of Corporate Development, or David Duncan Jr. (investors), CFO, 619-622-2615, of Telios Pharmaceuticals/
 (TLIO)


CO: Telios Pharmaceuticals Inc. ST: California IN: MTC SU: ERN

JB-LS -- SD003 -- 1055 04/26/93 19:01 EDT
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Date:Apr 26, 1993
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