euro adhoc: Intercell AG
quarterly or semiannual financial statement /
Intercell AG announces Q3 results and presents business update:
All development programs on track - Profitability expected for full year 2007 -
Very strong financial position - ...
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
quaterly report
19.11.2007
Vienna (Austria), November 19, 2007 - Today, vaccine company Intercell AG (VSE: ICLL) announced its financial results for the third quarter 2007, and presented an update on the Company´s development programs.
All development programs fully on track
Japanese Encephalitis:
» Significant progress for leading prophylactic vaccine program on track for market approvals - Finalization of EMEA-MAA and US-BLA filing planned for December 2007
» Results of Phase II for the vaccine in children expected in early 2008
Hospital acquired infections:
» S. aureus vaccine - Start of clinical Phase II trial (with Merck & Co., Inc.) expected within the next weeks
» Pseudomonas vaccine - preparations for start of clinical Phase II/III trials in 2008 on track
Hepatitis C:
» Statistically significant viral load reduction and good safety profile for therapeutic vaccine in interim analysis - full study data expected for Q1 2008
» Further clinical program under co-development arrangement with Novartis likely to include IC31®
IC31® & AIP®:
» IC31® - Influenza vaccine: All individuals within Phase I study vaccinated - results expected for early 2008
» IC31® - Tuberculosis vaccine: Two further clinical trials with the Danish Statens Serum Institut (SSI) expected to start this year
» Pneumococcus vaccine: Preparations for start of Phase I study in 2008 for novel protein-based vaccine on track
Novartis alliance:
» Transaction closed as announced in July - Total upfront contribution of EUR 270 m - Significant further milestones expected - 4.8 m shares issued to Novartis at a price of EUR 31.25 per share in September
» Full implementation for improved Influenza vaccine and co-development in Hepatitis C started in Q4 2007
Strong financial position - Profitability expected for full year 2007
» EUR 6.5 m net loss for Q3 2007 compared to EUR 9.5 m in Q3 2006. This means a decrease of 31.2 percent
» Increase of aggregate revenues - EUR 7.4 m in Q3 2007 compared to EUR 0.7 m in Q3 2006
» EUR 9.8 m R&D expenses in Q3 2007 - up 17.0 percent compared to Q3 2006 following progress of development programs
» Strong cash position with EUR 218.6 m in liquid funds at September 30, 2007.Given already committed further payments, cash position at the end of 2007 expected to be approx. EUR 300 m
» Full year 2007 expected to be profitable based on already confirmed licensing income. Growth in profitability expected for 2008
Management Board:
» Management Board, with Gerd Zettlmeissl as Chief Executive Officer, Werner Lanthaler as Chief Financial Officer, and Alexander von Gabain as Chief Scientific Officer, appointed for a further three-year term. Thomas Lingelbach appointed as a new member of the Management Board as Chief Operating Officer
end of announcement euro adhoc 19.11.2007 07:24:55
Further inquiry note:
Intercell AG
Lucia Malfent
Head of Communications
Tel. +43 1 20620-303
lmalfent@intercell.com
Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Börsen: Wiener Börse AG / official market