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TELIOS ANNOUNCES FOURTH QUARTER 1992 RESULTS

 SAN DIEGO, Feb. 12 /PRNewswire/ -- Telios Pharmaceuticals Inc. (NASDAQ: TLIO) announced today financial results for it fourth quarter and the year ended Dec. 31, 1992. Revenues for the quarter were $1,197,000, a decrease from $2,061,000 for the same period last year. The company reported a net loss for the quarter of $4,405,000, or $.22 per share, compared to a net loss of $2,198,000, or $.13 per share, for the same period in 1991.
 Revenues and net loss for the year ended Dec. 31, 1992, were $3,769,000 and $19,637,000, respectively, compared to $6,598,000 and $10,131,000, respectively, for the year ended Dec. 31, 1991. Net loss per share was $1.04 compared to $.62 for 1991. The increased net loss for 1992 was primarily the result of increased investment in research, clinical development and manufacturing activities and lower revenues under collaborative research and development agreements. These agreements typically generate revenues that fluctuate significantly from quarter to quarter or from year to year.
 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 diseases, cardiovascular diseases and osteoporosis. Telios is currently in clinical trials with two novel peptide-based products, Telio-Derm(R), a treatment designed to accelerate healing of severe and chronic dermal wounds, and OcuNex(TM), an ophthalmic wound healing product.
 TELIOS PHARMACEUTICALS INC.
 Condensed Balance Sheets
 (In thousands)
 Dec. 31,
 1992 1991
 Assets
 Current assets $16,222 $12,951
 Property 11,461 3,048
 Other assets 710 1,741
 Total assets $28,393 $17,740
 Liabilities and
 Stockholders' Equity
 Current liabilities $3,189 $1,945
 Long-term debt 6,477 1,442
 Stockholders' equity 18,727 14,353
 Total liabilities and
 stockholders' equity $28,393 $17,740
 TELIOS PHARMACEUTICALS INC.
 Condensed Statements of Operations
 (In thousands, except per share amounts)
 Three Months Year
 Ended Dec. 31, Ended Dec. 31,
 1992 1991 1992 1991
 (Unaudited)
 Revenues $1,197 $2,061 $3,769 $6,598
 Costs and Expenses
 Cost of product sales 82 114 453 373
 Research and
 development 5,486 3,300 19,981 10,390
 General and
 administrative 683 666 2,988 2,208
 Marketing and sales 144 158 686 432
 Equity in net loss of
 European joint venture 91 70 392 149
 Option costs --- --- --- 3,750
 Total costs and
 expenses 6,486 4,308 24,500 17,302
 Other income, net 884 49 1,094 573
 Net loss ($4,405) ($2,198) ($19,637) ($10,131)
 Net loss per share ($.22) ($.13) ($1.04) ($.62)
 Weighted average
 shares outstanding 19,724 16,862 18,873 16,322
 -0- 2/12/93
 /CONTACT: Audrey D. Keane (press), director of corporate development, or David Duncan Jr. (investors), CFO, of Telios Pharmaceuticals, 619-622-2615/
 (TLIO)


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

KJ-JB -- SD006 -- 6380 02/12/93 20:33 EST
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Date:Feb 12, 1993
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