WALTHAM, Mass., Oct. 28 /PRNewswire/ -- ImmuLogic Pharmaceutical
Corporation (Nasdaq: IMUL) reported today financial results for the third
quarter of 1997 ended September 30, 1997.  Revenues for the third quarter were
$462,000 compared to $762,000 for the third quarter of 1996.  The net loss for
the quarter was reduced to $2,782,000 [$(0.14) per share] versus $7,496,000
[$(0.37) per share] in 1996.  The decrease in net loss as compared to prior
year resulted primarily from reduced headcount and related savings as a result
of the Company's workforce reduction in June 1997 and reduced clinical trial
and related expenses for the Company's ALLERVAX(R) program.
    For the nine months ended September 30, 1997 revenues were $1,382,000
compared to $2,012,000 in the same nine month period of 1996.  The net loss
for the first nine months of 1997 was $14,408,000 [$(0.71) per share] versus
$18,768,000 [$(0.93) per share] in the same period last year.
    ImmuLogic Pharmaceutical Corporation is a biopharmaceutical company,
located in Waltham, Massachusetts, which creates, develops, and intends to
market products to treat diseases of the immune system.  The Company is
developing treatments for allergies, autoimmune diseases and substance abuse.
The Company's press releases are available on the Internet at
http://www.prnewswire.com or by fax through Company News on Call at 800-758-5804,
ext. 114501.
    This press release contains forward-looking statements that involve a
number of risks and uncertainties.  Among the most important factors that
could cause actual results to differ materially from those indicated by such
forward-looking statements are delays in product development, failure to
obtain required regulatory approvals, and the risk factors detailed in the
company's Annual Report on Form 10-K for the year ended December 31, 1996.

                     IMMULOGIC PHARMACEUTICAL CORPORATION
                        SELECTED FINANCIAL INFORMATION


    Statements of Operations
    (in thousands, except per share data)

                                      (Unaudited)            (Unaudited)
                                  Three Months Ended     Nine Months Ended
                                      Sept. 30,              Sept. 30,
                                    1997      1996         1997       1996

    License and research revenues $462         $762       $1,382      $2,012

    Operating expenses:
     Research & development      3,113        7,447       13,117      19,532
     General & administrative      965        1,785        5,249       4,770
      Total operating expenses   4,078        9,232       18,366      24,302

    Operating loss             (3,616)      (8,470)     (16,984)    (22,290)
    Interest income                834          974        2,576       3,522

    Net loss                  $(2,782)     $(7,496)    $(14,408)   $(18,768)

    Net loss per common share  $(0.14)      $(0.37)      $(0.71)     $(0.93)

    Weighted average
     number of common shares    20,270       20,232       20,251      20,207


        Condensed Balance Sheets
        (in thousands)

                                  (Unaudited)
                                    Sept. 30      Dec. 31
                                     1997             1996

    Cash and cash equivalents and
     short-term investments         $36,308         $54,623
    Other current assets                623             625
    Property and equipment, net       7,781           8,933
    Long-term investments            18,006          15,424
    Other assets                         49              49

    Total assets                    $62,767         $79,654

    Current liabilities              $4,712          $7,353
    Non-current liabilities             325             375
    Stockholders' equity             57,730          71,926

    Total liabilities and
     stockholders' equity           $62,767         $79,654

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