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To: Big Dog who wrote (15412)	5/7/1998 10:27:00 AM
From: KonKilo	Respond to of 34592

Thursday May 7, 7:45 am Eastern Time Company Press Release Techniclone Leads Nasdaq in Shares Traded TUSTIN, Calif.--(BUSINESS WIRE)--May 7, 1998--Techniclone Corporation (NASDAQ:TCLN - news) today commented on its recent significant stock trading activity as evidenced with the Company being one of the most heavily traded NASDAQ issues for the last two consecutive days. ''We believe the trading volume and increase in the stock price is an indicator of the public's mounting interest in novel cancer therapies and Techniclone's broad platform of cancer therapy technologies,'' stated Elizabeth Gorbett-Frost, CFO. Dr. Jamie Oliver, V.P. Clinical and Regulatory Affairs, added, ''We believe the recent stock activity also demonstrates the recognition of the important recent strides made by the Company. Patients are presently being treated in two separate clinical trials; the Phase II/III clinical trial for the treatment of advanced B-cell non-Hodgkins lymphoma with Oncolym(TM) and the Phase I clinical trial for the treatment of malignant glioma (brain cancer) with TNT. Patient enrollment in both of these current human clinical studies is exceeding our original expectations. ''Additionally, our research and development of new cancer therapies continues to yield encouraging results as demonstrated in our findings in the VTA (Vascular Targeting Agent or anti-angiogenesis) technology article published in Cancer Research, and our previously published pre-clinical results regarding our VEA (Vasopermeation Enhancement) technology. The Company is progressing in its multi-product clinical development plans.'' The significant trading volume also provided the opportunity for the investors in the Company's Class C Preferred financing to convert a significant portion of their remaining Class C preferred shares. At May 6, 1998, Class C Preferred Stock stated at $2,237,999 (2,237 shares) remain outstanding. The maximum conversion price for the remaining shares of Class C Preferred Stock is $.5958 per share. At May 6, 1998, the Company had approximately 54,671,000 shares of common stock outstanding. ''The significant reduction in the number of remaining shares of Class C Preferred Stock is a major advantage as it reduces much of the uncertainty and concern on the part of our shareholders concerning stock dilution and enhances the Company's financing capabilities,'' Frost concluded. Techniclone Corporation is a biotechnology company focused on the research, development and commercialization of novel cancer therapeutics in two principal areas: 1) direct tumor targeting agents for the treatment of refractory malignant lymphoma and 2) collateral targeting agents for the treatment of solid tumors. Oncolym(TM), the Company's most advanced drug development candidate, is an investigational radiolabeled murine monoclonal antibody being studied in a Phase II/III trial for the treatment of intermediate - and high-grade relapsed or refractory B-cell-non-Hodgkin's lymphoma. Additionally, the Company is conducting a Phase I study of its Tumor Necrosis Therapy (TNT) for the treatment of malignant glioma (brain cancer). The Company is also developing additional product candidates from the following collateral targeting agents for solid tumor therapy: Vascular Targeting Agents (VTAs) and Vasopermeation Enhancement Agents (VEAs). Techniclone Corporation intends to commercialize these products through the establishment of strategic corporate collaborations. This release may contain certain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ from the Company's expectations as a result of risk factors discussed in Techniclone's reports on file with the U.S. Securities and Exchange Commission (including, but not limited to, the report on Form 10-Q/A for the quarter ended January 31, 1998 and the Company's report on Form 10-K/A for the year ended April 30, 1997. Contact: Techniclone Corporation, Tustin Elizabeth Gorbett-Frost William V. Moding 714/508-6000 or Cynthia DeMonte Investor Communications 212/420-0088