WALTHAM, Mass., April 29 /PRNewswire/ -- ImmuLogic Pharmaceutical
Corporation (Nasdaq: IMUL) reported today financial results for the first
quarter ended March 31, 1997.  Revenues for the quarter were $552,000 compared
to $625,000 in the same quarter last year.  Expenses in the first quarter of
1997 were $7,779,000 compared to $7,575,000 in the first quarter last year.
The net loss for the first quarter of 1997 was $6,336,000 [$(0.31) per share]
compared to $5,679,000 [$(0.28) per share] in the same period last year.
    Research and development expenses were lower in comparison to the same
period last year due to reduced manufacturing and clinical trial costs.
Sufficient quantities of manufactured peptides are available to conduct
upcoming clinical trials.  General and administrative expenses increased in
the first quarter of 1997 compared to the same quarter last year due primarily
to one-time severance payments associated with the departure of company
executives during the quarter.
    Highlights of the quarter included the reporting of results from the
Company's 1996 ragweed season trial for the ALLERVAX(R) RAGWEED product.
These results showed that patients' allergy symptoms improved in a
statistically significant manner when the ALLERVAX RAGWEED product treated
group was compared to the placebo group.  The Company plans to initiate an
additional trial for this product in July, prior to the start of the 1997
ragweed season.  The Company also restructured its Board of Directors in the
first quarter by electing five new members.
    "The new Board and management of ImmuLogic decided during the quarter to
focus the Company's resources over the next year on the advancement of both
the ALLERVAX(R) CAT and ALLERVAX RAGWEED products," commented Joseph Marr,
M.D., Chief Operating Officer of ImmuLogic Pharmaceutical Corporation.  "We
are currently planning protocols for trials to be conducted for both products
this year.  Preclinical development will continue for the autoimmune and
substance abuse programs but clinical development will be deferred."
    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's primary
focus is on 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                            (Unaudited)
    (in thousands, except per share data)            Three Months Ended
                                                          March 31
                                                       1997       1996

     License and research revenues                     $552      $625
     Operating expenses:
      Research & development                          4,891     6,107
      General & administrative                        2,888     1,468
       Total operating expenses                       7,779     7,575

     Operating loss                                 (7,227)   (6,950)

     Interest income                                    891     1,271

     Net loss                                      $(6,336)  $(5,679)

     Net loss per common share                      $(0.31)   $(0.28)

     Weighted average number of common shares        20,234    20,172


                                                  (Unaudited)
    Condensed Balance Sheets                       March 31,  December 31,
    (in thousands)                                    1997      1996
     Cash and cash equivalents and
       short-term investments                       $48,534   $54,623
     Other current assets                               752       625
     Property and equipment, net                      8,837     8,933
     Long-term investments                           14,450    15,424
     Other assets                                        49        49

     Total assets                                   $72,622   $79,654

     Current liabilities                             $6,567    $7,353
     Non-current liabilities                            375       375
     Stockholders' equity                            65,680    71,926

     Total liabilities and stockholders' equity     $72,622   $79,654

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