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TELIOS ANNOUNCES THIRD QUARTER 1992 RESULTS

 TELIOS ANNOUNCES THIRD QUARTER 1992 RESULTS
 SAN DIEGO, Nov. 4 /PRNewswire/ -- Telios Pharmaceuticals Inc.


(NASDAQ: TLIO) announced today financial results for its third quarter and the nine-month period ending Sept. 30, 1992. Revenues for the quarter were $643,000, a decrease from $1,072,000 for the same period last year. The company reported a net loss for the quarter of $5,500,000, or $.29 per share, compared to a net loss of $5,823,000, or $.36 per share for the same period in 1991. The 1991 third quarter loss included a non-cash charge of $3,750,000 to extend the company's right of first refusal to inventions discovered at the La Jolla Cancer Research Foundation.
 Revenues and net loss for the nine months ended Sept. 30, 1992, were $2,572,000 and $15,232,000, respectively, compared to $4,537,000 and $7,933,000, respectively, for the same period in 1991. Year-to- date net loss per share was $.82 for 1992, compared to $.48 for the same period in 1991. The increased net loss for the year-to-date period was primarily the result of increased clinical, research and development 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)
 Sept. 30, Dec. 31,
 1992 1991
 (unaudited)
 Assets
 Current assets $19,446 $12,951
 Property 10,859 3,048
 Other assets 1,044 1,741
 Total assets $31,349 $17,740
 Liabilities and Stockholders' Equity
 Current liabilities $4,429 $1,946
 Long-term debt 4,472 1,442
 Stockholders' equity 22,448 14,352
 Total liabilities and stockholders' equity $31,349 $17,740
 TELIOS PHARMACEUTICALS INC.
 Condensed Statements of Operations
 (In thousands, except per share amounts)
 (Unaudited)
 Three months ended Nine months ended
 Sept. 30, Sept. 30,
 1992 1991 1992 1991
 Revenues $643 $1,072 $2,572 $4,537
 Costs and expenses
 Cost of product sales 161 63 371 259
 Research and development 4,857 2,595 14,495 7,090
 General and
 administrative 794 484 2,305 1,542
 Marketing and sales 204 107 542 274
 Equity in net income of
 European joint venture 128 39 301 79
 Option costs --- 3,750 --- 3,750
 Total costs and expenses 6,144 7,038 18,014 12,994
 Other income, net 1 143 210 524
 Net loss ($5,500) ($5,823) ($15,232) ($7,933)
 Net loss per share ($.29) ($.36) ($.82) ($.48)
 Weighted average shares
 outstanding 19,200 16,218 18,588 16,378
 -0- 11/4/92
 /CONTACT: Audrey D. Keane (press), director of corporate development, David Duncan Jr. (investors), VP-finance and administration, or Richard A. Kaufman (investors), VP, secretary and general counsel, 619-622-2615, all of Telios Pharmaceuticals/
 (TLIO) CO: Telios Pharmaceuticals Inc. ST: California IN: MTC SU: ERN


JL-LS -- SD006 -- 2748 11/04/92 18:50 EST
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Date:Nov 4, 1992
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