euro adhoc: Intercell AG
Annual Reports
Intercell AG announces Q2/ H1 2008
results and gives update on business
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
18.08.2008
» International approval processes for Japanese Encephalitis vaccine on schedule - Approvals of Intercell´s Japanese Encephalitis vaccine candidate in the US, Europe and Australia expected within the next few months
» Acquisition of Iomai Corporation (Iomai) closed according to plan
» Despite higher costs because of Iomai acquisition profitability expected for full year 2008
» Revenues increased to EUR 17.6 m in H1 2008 compared EUR 5.2 m in H1 2007 (240.3 percent) - Net loss decreased by EUR 6.9 m (44.4 percent), to EUR 8.6 m in H1 2008 from EUR 15.6 m in H1 2007 - Strong cash position with EUR 258.3 m by the end of H1 2008
Vienna (Austria), August 18, 2008 - Today Intercell AG (VSE: ICLL) announced the financial results for Q2 / H1 2008 and released an update on the company´s developmental programs and strategy.
Following the completion of US FDA pre-approval inspection, Intercell continues to work towards approvals of its Japanese Encephalitis vaccine candidate in the US, Europe and Australia within the next few months
» FDA waives VRPAC (Vaccines and Related Biological Products Advisory Committee); pre-approval inspection completed on time
» Licensure application submitted to Australian Therapeutic Goods Administration (TGA) and to Canadian Division of Biologics and Genetic Therapies Directorate of Health. TGA grants priority review for Intercell's vaccine candidate in Australia
» Intercell already produces the vaccine at its manufacturing facility in Livingston under the commercial Manufacturer's License from MHRA
» Vaccine demonstrates excellent safety and immunogenicity at "half dose" in Phase II trials in children. Development for endemic markets with Intercell's Indian partner Biological E. progresses well
» Ongoing strategic assessment of potential opportunities on the Japanese market continues
Intercell acquires Iomai and strengthens leadership in vaccine innovation - first focusing on bringing the vaccine patch for Traveler's Diarrhea to market
» Intercell's acquisition of Iomai closed smoothly on August 5, 2008. The total consideration of 1,442,819 Intercell shares and a cash component of EUR 75 million (USD 116 million), was comfortably financed from existing reserves
» Valuable expansion of Intercell's pipeline and leveraging of Intercell's late-stage product development with two further programs in late-stage clinical development - the vaccine patch for Traveler's Diarrhea (start of Phase III planned for the first half of 2009) and the vaccine enhancement patch for the Pandemic Flu (start of Phase II in 2008)
Hospital-acquired infections - all developmental programs on track
» S. aureus: Phase II of the vaccine in elective cardiothoracic surgery - conducted by Merck & Co - progressing (conducted by Merck & Co., Inc.)
» Pseudomonas: Start of clinical Phase II/III trials expected for 2008
» Pneumococcus: Outstanding pre-clinical results on the novel, protein-based, universal vaccine published in the Journal of Experimental Medicine; initiation of Phase I trials planned for 2008
Adjuvant IC31® - Progress in the development of new Influenza vaccine - Sanofi Pasteur joins Tuberculosis cooperation
» Influenza: Novartis initiated clinical trials for the seasonal flu vaccine containing IC31®
» Tuberculosis: The tuberculosis vaccine, currently being tested in clinical trials (formulated with IC31®), will be further developed in a partnership between Statens Serum Institut (SSI) and Sanofi Pasteur
Financial Statement
» Revenues increased to EUR 17.6 m in H1 2008 compared EUR 5.2 m in H1 2007, or by 240.3 percent. Net loss decreased by EUR 6.9 m, or by 44.4 percent, to EUR 8.6 m in H1 2008 from EUR 15.6 m in H1 2007. Strong cash position with EUR 258.3 m by the end of H1 2008
Management Board
» Intercell's CSO, Alexander von Gabain, appointed to the Governing Board of the European Institute of Innovation and Technology
KEY FIGURES
in EUR thousands 3 months 6 months Year
ended ended ended
June 30, June 30, Dec 31,
2008 2007 2008 2007 2007Revenues 9,018 3,682 17,642 5,184 53,349
Net profit/(loss) (4,032) (8,522) (8,650) (15,571) 5,009
Net operating cash flow (12,578) (4,867) (25,386) (14,502) (41,686)
Cash and marketable securities, end of period 258,286 81,056 258,268 81,056 257,571
end of announcement euro adhoc
Further inquiry note:
Intercell AG
Lucia Malfent
Head of Communications
Tel. +43 1 20620-303
lmalfent@intercell.com
Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wiener Börse AG / official market