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ZYNAXIS(R) REPORTS FIRST QUARTER RESULTS

 MALVERN, Pa., May 14 /PRNewswire/ -- Zynaxis, Inc. (NASDAQ: ZNXS), today reported a net loss of $1,851,211 or $0.36 per share on revenue of $315,000 for the quarter ended March 31, 1993. For the comparable period in 1992, the net loss was $790,369 or $0.20 per share.
 Martyn Greenacre, chairman and chief executive officer, stated the results were in line with expectations and reflect the continuation of ongoing research programs as well as expenses in anticipation of FDA submission and marketing of the ZYMMUNE(TM) Cell Monitoring System. He added the company expects to file the 510(k) for the ZYMMUNE CD4/CD8 assay kit with the FDA within the next 60 days.
 Zynaxis, Inc. is a drug delivery company with a unique proprietary technology for delivering and retaining a drug at a disease site. The company is also developing cellular diagnostic systems for HIV and other diseases.
 ZYNAXIS, INC.
 Consolidated Statements of Operations (Unaudited)
 Three months ended March 31 1993 1992
 Revenue from collaborative agreement $315,000 --
 Operating expenses:
 Research and development 1,541,430 671,160
 General and administrative 804,705 225,262
 Total 2,346,135 896,422
 Operating loss (2,031,135) (896,422)
 Interest income 191,502 137,710
 Interest expense (11,578) (31,657)
 Net loss (1,851,211) (790,369)
 Net loss per share (0.36) (0.20)
 Shares used in computing net loss
 per share 5,166,074 3,866,806
 -0- 5/14/93
 /CONTACT: Martyn Greenacre, chairman and chief executive officer of Zynaxis, Inc., 215-889-2200, or Melissa Wilmoth of Cameron Associates, 212-644-9560, for Zynaxis, Inc./
 (ZNXS)


CO: Zynaxis, Inc. ST: Pennsylvania IN: HEA SU: ERN

TS-OS -- NY019 -- 8531 05/14/93 09:55 EDT
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Publication:PR Newswire
Date:May 14, 1993
Words:289
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