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UNIGENE LABORATORIES EXTENDS CLASS B WARRANT EXPIRATION DATE

 FAIRFIELD, N.J., May 13 /PRNewswire/ -- Unigene Laboratories, Inc. (NASDAQ: UGNE) today announced that it is extending the expiration date of its class B warrants (NASDAQ: UGNEZ) by one year to Aug. 11, 1994. The class B warrants are currently exercisable at $5 for one share of common stock.
 "Unigene is in excellent financial condition. The company is very encouraged regarding its progress in scale-up and development activities relating to calcitonin production and oral delivery. The continuing trend of lower share prices throughout the pharmaceutical and biotechnology industries has created pressure on many of our investors," stated Dr. Warren P. Levy, president of Unigene. "We therefore feel that, at this time, it is in the best interests of both our stockholders and our warrantholders for us to extend the expiration date of the class B warrants."
 Unigene Laboratories, Inc. has developed a proprietary amidation process capable of producing peptide hormones for the treatment of a variety of diseases and disorders including osteoporosis, diabetes and hypertension.
 -0- 5/13/93
 /CONTACT: William Steinhauer, controller of Unigene Laboratories, 201-882-0860/
 (UGNE)


CO: Unigene Laboratories, Inc. ST: New Jersey IN: MTC SU:

LR-SH -- NY069 -- 8272 05/13/93 16:05 EDT
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Publication:PR Newswire
Date:May 13, 1993
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