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U.S. BIOSCIENCE REPORTS RESULTS FOR FOURTH QUARTER AND YEAR

 WEST CONSHOHOCKEN, Pa., Feb. 18 /PRNewswire/ -- U.S. Bioscience, Inc. (AMEX: UBS) today reported a loss for the fourth quarter ended Dec. 31, 1992, of $6.8 million, or 17 cents per share, compared with a loss of four cents in the year-ago period. For the full year 1992, the company reported a loss of $20.2 million, or 51 cents per share compared to a loss of 18 cents for 1991.
 Compared to the prior year, sales of Hexalen(R), the company's oral treatment for ovarian cancer, increased 31 percent in the quarter and five percent for the full year.
 Philip S. Schein, M.D., chairman and chief executive officer, said the wider losses for the quarter and the year were largely the result of planned increases in R&D expenses, principally reflecting higher chemical scale-up, manufacturing and clinical trial expenses associated with the company's products as they progress through the R&D pipeline, and higher selling and administrative expenses, resulting primarily from additional personnel, legal expenses and marketing activities. The net loss in the quarter was also attributed to lower investment income due to use of cash reserves to support the company's operations, a decline in interest rates and lower realized gains from sales of securities in the portfolio than during the prior year.
 Dr. Schein noted the company had $77 million in cash and marketable securities at year-end which should provide ample resources to support the company's marketing and selling preparations for Ethyol(R), NeuTrexin(TM) (trimetrexate), and expansion of Hexalen sales, as well as expanded clinical activities. These activities include the recently announced FDA filing of a New Drug Application (NDA) for NeuTrexin, the company's third NDA filed since 1987, ongoing studies of Ethyol for chemotherapy and radiation applications and clinical studies on other products.
 Based in West Conshohocken, Pa., U.S. Bioscience is a pharmaceutical company specializing in the development and commercialization of products to increase the survival and quality of life for patients with cancer and allied diseases such as AIDS. The company's portfolio includes a broad spectrum of drugs for these diseases, including four products in the late stages of development. One compound, altretamine, is marketed under the Hexalen in the United States.
 U.S. BIOSCIENCE, INC.
 Condensed Statement of Operations
 Period Ended Three Months Twelve Months
 December 31, 1992 1991 1992 1991
 Revenue:
 Sales $ 955,800 $ 728,300 $3,510,600 $3,348,400
 Investment income,
 net 1,054,000 3,268,900 7,293,700 7,604,600
 Licensing 5,300 10,200 618,300 124,100
 Total revenues 2,015,100 4,007,400 11,422,600 11,077,100
 Expenses:
 Cost of sales 256,000 124,000 886,000 762,100
 Selling, general
 & administrative 3,511,400 2,417,600 14,028,000 6,926,600
 Research &
 development costs 5,082,500 3,158,700 16,734,400 9,928,500
 Total expenses 8,849,900 5,700,300 31,648,400 17,617,200
 Net loss (6,834,800) (1,692,900) (20,225,800) (6,540,100)
 Net loss per share $(0.17) $(0.04) $(0.51) $(0.18)
 Weighted average
 number of shares 39,508,200 39,078,500 39,406,900 37,094,500
 -0- 2/18/93
 /CONTACT: Robert I. Kriebel, senior vice president -- finance and administration of U.S. Bioscience, 215-832-4503/
 (UBS)


CO: U.S. Bioscience, Inc. ST: Pennsylvania IN: MTC SU: ERN

TM-LD -- NY009 -- 7670 02/18/93 08:25 EST
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Date:Feb 18, 1993
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