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Genetic Therapy Inc.

THE BALTIMORE SUN

Genetic Therapy, a Gaithersburg biotechnology company, lost $1.8 million in the quarter that ended March 31, compared with a loss of $1.1 million in 1991's first quarter.

Revenues increased to $375,705 from $56,722. The company said investment income accounted for all of this year's revenue, including the proceeds from a $21 million public offering completed in the first quarter. The company's cash and marketable securities were up to $39.7 million at the end of the period.

Genetic Therapy, which is developing treatments for cancer an other serious illnesses, hired 30 scientists in the past year, doubling its research staff and expenditures.

Three months ended 3/31/92

.. .. .. .. Revenue .. .. .. Net .. .. .. Share

'92 . .. ..375,705 .. ..(1,797,455). ..(0.20)

'91 . .. ...56,722 .. ..(1,100,027). ..(0.19)

% change ... +562.3 .. .. .. .. . --.. .. .. --

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