TELIOS ANNOUNCES SECOND QUARTER 1992 RESULTS
TELIOS ANNOUNCES SECOND QUARTER 1992 RESULTS SAN DIEGO, Aug. 5 /PRNewswire/ -- Telios Pharmaceuticals Inc.
("Telios" or the "Company") (NASDAQ-NMS: TLIO) announced today financial results for its second quarter and the six-month period ending June 30, 1992. Revenues for the quarter were $1,402,000, a decrease from $2,678,000 for the same period last year. The Company incurred a net loss of $5,424,000 or $.28 per share, compared to a net loss of $490,000 or $.03 per share for the same period in 1991. Year-to-date revenues and net loss were $1,929,000 and $9,732,000, respectively, for 1992, compared to $3,465,000 and $2,111,000, respectively, for the same period of 1991. Year-to-date net loss per share was $.53 for 1992 compared to $.13 for the same period in 1991. The increased loss for both periods was primarily the result of increased clinical, research and development activities and lower revenues under collaborative research and development agreements which 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 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- 8/5/92 /CONTACT: Audrey D. Keane (press), director of Corporate Development, or David Duncan Jr., VP-finance, or Richard A. Kaufman, VP, secretary and general counsel (investors), 619-622-2615, all of Telios Pharmaceuticals/ (TLIO) CO: Telios Pharmaceuticals Inc. ST: California IN: MTC SU: ERN
AL-JL -- SD007 -- 7352 08/05/92 20:26 EDT
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|Date:||Aug 5, 1992|
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