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TO BUSINESS EDITO

 CORTECH RELEASES SECOND QUARTER RESULTS
 DENVER, Aug. 19 /PRNewswire/ -- Cortech Inc. (NASDAQ: CRTQ) today


released its financial results for the quarter ended June 30, 1993. The company reported a net loss of approximately $2.6 million or 18 cents per share for the quarter compared to a net loss of approximately $1.2 million or 12 cents per share for the like quarter of 1992.
 The net loss for the six months ended June 30, 1993 was $4.0 million or 27 cents per share, compared to a net loss of $1.2 million or 12 cents per share for the first half of 1992.
 The company's revenues of $1.6 million for the quarter represented a slight increase over the revenues of $1.3 million for the like period in 1992. Revenues for the six months ended June 30, 1993 were $3.4 million, compared to $3.1 million for the first half of 1993.
 Expenses increased from $2.5 million for the second quarter of 1992 to $4.2 million in the second quarter of 1993 primarily as a result of the company's expanding research and development activities and the growing infrastructure to support such activities. First half 1993 expenses increased to $7.4 million as compared to $4.4 million for the first six months of 1992.
 At June 30, 1993, the company had cash and short-term investments totaling $34.7 million, a decrease of $2.5 million from March 31, 1993 and a decrease of $2.9 million from Dec. 31, 1992.
 "The increases in our expenses and losses reflect our progress in clinical trials with our bradykinin antagonist, Bradycor(TM), and the requisite growth in staff and facilities to support our ongoing drug development programs," said David K. Crossen, Cortech president and chief executive officer.
 The company's lead compound, CP-0127 or Bradycor, is being tested in a 500-patient Phase II trial for sepsis, and the company filed an amendment to its notification of an Investigational New Drug (IND) to initiate Phase II trials in patients with head injuries. Cortech also anticipates initiating Phase II trials for patients with burns, multiple trauma and pancreatitis later this year.
 Cortech is a Denver-based biopharmaceutical company focused on the design and development of two novel classes of drugs, bradykinin antagonists and neutrophil elastase inhibitors, to treat a broad range of inflammatory disorders. In addition, Cortech is developing a proprietary potential treatment for allergies and autoimmune diseases. No assurance can be given, however, that the company's therapeutic approaches will lead to successful product launches and product revenues. Cortech common stock is listed as CRTQ on NASDAQ.
 CORTECH INC.
 CONDENSED BALANCE SHEETS
 (In Thousands)
 June 30, 1993 Dec. 31, 1992
 Assets
 Current assets $34,843 $37,657
 Property 3,726 3,066
 Other assets 189 159
 Total assets $38,758 $40,882
 Liabilities and
 stockholders' equity
 Current liabilities $1,005 $807
 Stockholder's equity 37,753 40,075
 Total liabilities and
 stockholders' equity $38,758 $40,882
 CONDENSED STATEMENTS OF OPERATIONS
 (In Thousands, except per share amounts)
 Three Months Ended Six Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 Revenues $1,564 $1,337 $3,392 $3,128
 Costs and expenses
 Research and development 3,257 2,091 5,778 3,568
 General and administrative 946 423 1,597 800
 4,203 2,514 7,375 4,368
 Net Loss $(2,639) $(1,177) $(3,983) $(1,240)
 Net loss per share $(0.18) $(0.12) $(0.27) $(0.12)
 Weighted average common
 shares outstanding 14,793 10,099 14,780 10,099
 -0- 8/19/93
 /CONTACT: David K. Crossen or Joseph L. Turner of Cortech, 303-650-1200/
 (CRTQ)


CO: Cortech Inc. ST: Colorado IN: MTC SU: ERN

MC -- DV001 -- 4225 08/19/93 10:03 EDT
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Date:Aug 19, 1993
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