WALTHAM, Mass., Feb. 10 /PRNewswire/ -- ImmuLogic Pharmaceutical
Corporation (Nasdaq: IMUL) reported today financial results for the fourth
quarter and year ended December 31, 1996.  Revenues for the fourth quarter
were $7,227,000 compared to $625,000 for the fourth quarter of 1995.  The net
loss for the quarter ended Dec. 31, 1996 was $102,000 (($0.01) per share)
compared to a net loss in the same quarter last year of $6,204,000 (($0.31)
per share).  For the twelve months ended December 31, 1996, revenues were
$9,239,000 compared to $7,758,000 in 1995.  The Company reported a net loss of
$18,870,000 (($0.93) per share) in 1996 compared to a net loss of $19,151,000
(($1.12) per share) in 1995.  The Company's cash and investment balance at
December 31, 1996 was $70 million.
    The net loss in the fourth quarter of 1996 compared to 1995 decreased by
more than $6 million as the result of a one-time $7 million payment from
Hoechst Marion Roussel Inc.  This payment resolves Hoechst Marion Roussel's
outstanding obligations relating to the joint collaboration between ImmuLogic
and Hoechst Marion Roussel which ended following notification by Hoechst
Marion Roussel that it was terminating the ALLERVAX(R) product joint
collaboration agreement.
    "In the first half of 1997 our clinical development program will increase
in activity with the planned initiation of an ALLERVAX CAT catroom trial, a
multiple sclerosis phase I trial, the filing of an IND and initiation of a
phase I trial for the cocaine vaccine, and an ALLERVAX RAGWEED trial to be
initiated in July prior to the start of the next ragweed season," said Joseph
Marr, M.D. acting President and Chief Executive Officer of ImmuLogic
Pharmaceutical Corporation.
    ImmuLogic Pharmaceutical Corporation, located in Waltham, MA, is a
biotechnology company specializing in the development of peptide
immunotherapeutics, with a primary focus on allergies, including cat and
ragweed allergies, and autoimmune diseases such as multiple sclerosis.  The
Company also is developing a cocaine vaccine.  The Company's press releases
are available through Company News on Call by fax at 800-758-5804,
ext. 114501, and on the Internet at http://www.prnewswire.com.
    This press release contains certain forward-looking statements concerning
future development and events.  These statements are based on current
expectations which involve risks and uncertainties.  Actual results may differ
significantly.  Factors that might cause such differences include the outcome
of discussions with regulatory agencies, insufficient supply of product to
conduct trials, future decisions made by the company that may change clinical
development schedules or goals as well as other factors identified in the
"risk factors" sections of the ImmuLogic Pharmaceutical Corporation SEC
filings such as the 10K for the year ended December 31, 1995.


                     IMMULOGIC PHARMACEUTICAL CORPORATION
                        SELECTED FINANCIAL INFORMATION
                     Statements of Operations (Unaudited)
                   (in thousands, except per share data)

                                        Three Months Ended Twelve Months Ended
                                           December 31,      December 31,
                                         1996    1995      1996       1995
     License, research and other
      revenues                        $7,227      $625     $9,239     $7,758

     Operating expenses:
     Research & development            6,351     6,317     25,882     24,709
     General & administrative          2,058     1,898      6,830      6,433
     Total operating expenses          8,409     8,215     32,712     31,142

     Operating loss                 $(1,182)  $(7,590)  $(23,473)  $(23,384)

     Interest income                   1,080     1,386      4,603      4,233

     Net loss                         $(102)  $(6,204)  $(18,870)  $(19,151)

     Net loss per common share       $(0.01)  $ (0.31)   $ (0.93)   $ (1.12)

     Weighted average number of
      common shares                   20,224    19,886     20,206     17,035


                           Condensed Balance Sheets
                                (in thousands)

                                                          December 31,
                                                        1996      1995
     Cash and cash equivalents and
       short-term investments                      $54,623   $60,988
     Other current assets                              625       732
     Property and equipment, net                     8,933    10,834
     Long-term investment                           15,424    24,972
     Other assets                                       49        53

     Total assets                                  $79,654   $97,579

     Current liabilities                            $7,353    $7,619
     Non-current liabilities                           375       425
     Stockholders' equity                           71,926    89,535

     Total liabilities and stockholders' equity    $79,654   $97,579

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