euro adhoc: Intercell AG
Financial Figures/Balance Sheet
Intercell announces
preliminary Q4 and full-year 2008 results
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
9-month report
02.03.2009
» Increased profitability and strong financial position for full-year 2008 » Excellent progress in late-stage pipeline products » Vaccine to prevent Japanese Encephalitis approved in Australia
Vienna (Austria), March 2, 2009 - Today, the biotech-vaccine company Intercell AG (VSE: ICLL) announced its preliminary financial results for the fourth quarter and the full financial year 2008, and presented an update on the Company's development programs.
Driven by strong revenues of EUR 30.5 m in the fourth quarter and income tax effects, Intercell´s profit for the full year 2008 was EUR 17.2 m, compared to EUR 5.0 m in the prior year. The annual revenues increased from EUR 53.3 m in the year ended December 31, 2007 to EUR 55.8 m in the year ended December 31, 2008. R&D costs for the full year 2008 increased to EUR 56.1 m and enabled the strong progression of Intercell's late-stage pipeline, including the advanced clinical programs acquired with Iomai Corporation. Cash and marketable securities of EUR 190.9 m at year-end give Intercell a strong financial position and will allow aggressive investment in late-stage pipeline products.
Intercell's vaccine to prevent Japanese Encephalitis, IXIARO®, received positive CHMP opinion in Europe and product approval in Australia, with U.S. approval expected in the near future. No additional requests or comments from the authorities are pending; hence the remaining administrative steps are expected to be concluded soon. "We have successfully managed to market our first vaccine and therefore reached one of the most important milestones in the Company's history - Intercell has proven its ability to develop and produce a product for global markets. With this achievement, we are looking forward to initiating a new growth phase for our company," said Intercell Chief Executive Officer Gerd Zettlmeissl.
DEVELOPMENT PROGRAMS AND PRODUCT PIPELINE
Aggressive investment in four late-stage pipeline products with clinical efficacy results expected within the next 12 months for Travelers Diarrhea vaccine patch, Staphylococcus aureus (S. aureus) vaccine candidate, and Pseudomonas vaccine candidate and Pandemic Influenza
» Traveler's Diarrhea patch vaccine - Recruitment of pivotal Phase III has begun and initiation of Phase III clinical trial planned for traveling season in H1 2009
» S. aureus vaccine - Merck & Co., Inc. has advanced the clinical efficacy trial in cardiothoracic surgery patients and efficacy data is expected mid 2009. The program was expanded with an additional Phase II study in hemodialysis patients with late-stage kidney disease
» Pseudomonas aeruginosa vaccine - Phase II clinical trial in mechanically ventilated intensive care patients has been initiated- First efficacy data is expected H2 2009
» Pandemic Influenza Vaccine Enhancement Patch - Program has been granted additional funding of USD 12.5 m by U.S. Department of Health and Human Services (HHS) - Start of Phase II is planned for H1 2009
» Streptococcus pneumoniae vaccine - Phase I clinical trial start with vaccine candidate to prevent infections with the bacterium Streptococcus pneumoniae is planned for March 2009
» herapeutic Hepatitis C vaccine - Initiation of next clinical trials will take advantage of a combination treatment and the use of IC31® as more potent adjuvant - strategic partnering process ongoing
» Tuberculosis vaccine - Phase I/II clinical development program of Statens Serum Institut (SSI), Intercell and Sanofi Pasteur is proceeding according to plan
» Group B Streptococcus vaccine - program has been licensed to Novartis
KEY FINANCIAL INFORMATION
in EUR thousands
Year ended December 31,
2008 2007 2006Revenues 55,763 53,349 23,452
Net profit/(loss) 17,175 5,009 (16,143)
Net operating cash flow (10,186) 41,686 (7,979)
Cash and marketable
securities, end of the year 190,865 287,571 94,421
For the full report please visit www.intercell.com
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