Subject: Cetus Charges $25.5 Million For Repurchase of Healthcare Rights
Date: Published: 1/6/87 37 lines
Source:  Wall Street J. Copyright Dow Jones & Co. Inc. 

   Cetus to Take Charge
   Totaling $25.5 Million
   For Fiscal 2nd Period

   EMERYVILLE, Calif. -- Cetus Corp. said it will take a
charge of $25.5 million in its second quarter ended Dec. 31
because of a repurchase of rights to certain healthcare
products.
   In the year-ago quarter, Cetus posted net income of
$612,600, or three cents a share, on revenue of $13.4
million.
   Cetus, a biotechnology concern, said the products involved
include a test for the acquired immune deficiency syndrome,
or AIDS, virus.  Cetus will repurchase the rights from Cetus
Healthcare Limited Partnership I, a closely held limited
partnership set up in 1983 to develop therapeutic and
diagnostic products.  Cetus said all the products involved
will require further testing before license applications can
be made to the Food and Drug Administration.
   Cetus also said it closed a $62 million public offering of
a limited partnership designed to fund the development and
clinical testing of its therapeutic products in Europe.  Cetus
said that 12,450 units of Cetus Healthcare Limited
Partnership II have been sold, and additional units may be
sold.  Each $5,000 unit consists of an interest in the
partnership and warrants to purchase 150 shares of Cetus
stock.

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