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THERATECH REPORTS A 2ND-QUARTER LOSS OF $3.3 MILLION

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TheraTech Inc., 417 Wakara Way, a company developing controlled-release drug delivery technologies, reports a net loss of $3.3 million or 26 cents per share in the quarter ending June 30, compared with a net loss of $1.8 million or 18 cents per share in the same quarter a year ago.

Dinesh C. Patel, president and chief executive officer, said for the six months ending June 30, the company had a net loss of $6.5 million or 53 cents per share, compared with a net loss of $3.6 million or 35 cents per share in the same period of 1993.In spite of the losses, Patel said, "It has been a very busy and productive period as evidenced by the fact that Phase 3 clinical studies are under way on our estradiol product and we are preparing to submit the testosterone NDA for filing with the Food and Drug Administration."

TheraTech has equity and/or multi-product research and licensing agreements with Pfizer, SmithKline Beecham, Solvay Pharmaceuticals and Syntex in the United States and the San Yang Group in South Korea.