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VIRATEK REPORTS HIGHER THIRD QUARTER AND NINE-MONTH EARNINGS

 VIRATEK REPORTS HIGHER THIRD QUARTER AND NINE-MONTH EARNINGS
 COSTA MESA, Calif., Nov. 5 /PRNewswire/ -- Viratek Inc. (NASDAQ: VIRA) today reported third quarter net income of $1.5 million, or 10 cents per share, compared to net income of $1.3 million, or 9 cents per share, in last year's third quarter.
 Revenues in the third quarter increased to $1.9 million from $1.2 million in the third quarter of 1991.
 For the first nine months of 1992, Viratek reported net income of $3 million, or 21 cents per share, on revenues of $4.2 million, compared to net income of $2 million, or 14 cents per share, on revenues of $2.7 million in the same period in 1991.
 Research and development expenses in the third quarter of 1992 totaled $84,000. There were no similar expenses in last year's third quarter. As part of its renewed research activities, Viratek is developing new pharmaceuticals for SPI Pharmaceuticals Inc. and biomedical and diagnostic products for ICN Biomedicals Inc. Viratek will receive royalties on any future sales of products developed under this program pursuant to royalty agreements.
 Viratek currently receives royalties on worldwide sales by SPI Pharmaceuticals Inc. of the antiviral drug Virazole, for which Viratek holds the patent. Virazole is authorized in the United States and 22 other countries for aerosolized treatment of infants hospitalized with severe lower lung infection caused by respiratory syncytial virus (RSV). It is also authorized in 40 countries outside the United States in different formulations for a variety of other viral infections.
 On Oct. 28, SPI and Boehringer Ingelheim Ltd. announced an exclusive distribution agreement for Boehringer Ingelheim's German Subsidiary, Dr. Karl Thomae GmbH, to market Virazole in Germany for the aerosolized treatment of infants hospitalized with severe lower respiratory tract infection caused by RSV.
 Viratek Inc. specializes in the development and licensing of new pharmaceutical compounds from nucleic acid research.
 VIRATEK INC.
 Summary Financial Information
 For the three and nine months ended Sept. 30, 1992 and 1991
 (000s omitted, except per share amounts)
 (Unaudited)
 Three months ended Nine months ended
 Sept. 30, Sept. 30
 1992 1991 1992 1991
 Total revenues $1,948 $1,222 $4,206 $2,726
 Net income $1,483 $1,324 $3,023 $1,952
 Per share information:
 Net income $0.10 $0.09 $0.21 $0.14
 Shares used in per
 share computation 14,478 14,342 14,533 14,328
 -0- 11/5/92
 /CONTACT: Paul Knopick of Viratek, 714-545-0100, ext. 2465/
 (VIRA) CO: Viratek Inc. ST: California IN: MTC SU: ERN


LS-JL -- LA011 -- 2851 11/05/92 08:36 EST
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Publication:PR Newswire
Date:Nov 5, 1992
Words:432
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