EANS-Adhoc: Intercell AG
Intercell AG announces Q1 2011 results and updates on
R&D progress
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3-month report
10.05.2011
Significant increase in IXIARO®/JESPECT® sales compared to Q1 2010 Cost restructuring progressing well - net loss reduced by 23.4% to EUR 11.3m
Vienna (Austria), May 10, 2011 - Today, the biotech-vaccine company Intercell AG (VSE: ICLL) announced its financial results for Q1 and presented an update on the Company's development programs.
Financial Results » Year-on-year revenue growth of 19.7% driven by strong IXIARO®/JESPECT® sales revenues » Restructuring process progressing successfully - operating loss reduced by 33.1% » Higher sales and reduced spending lead to reduced net loss of EUR 11.3m » Cash position of EUR 87.7m at quarter-end » Unchanged net loss expectation of EUR 30 - 40m for full year 2011
Key Financial Figures
TEUR 3 months ended
March 31, Year ended
2011 2010 Dec 31, 2010
Revenues 5,692 4,756 34,215
Net loss (11,257) (14,702) (255,182)
Net operating cash flow (23,453) (15,468) (65,120)
Cash and available-
for-sale financial assets 87,697 158,216 86,182
IXIARO®/JESPECT®Revenues from IXIARO®/JESPECT® product sales increased from EUR 0,4m in Q1 2010 to EUR 3.3m in Q1 2011. This excellent result in the usually weakest quarter of the year - due to travel seasonality - reflects the positive trend of increasing sales of IXIARO®/JESPECT® a already seen in 2010 in key travel markets and to U.S. military.
Intercell expects a growth of sales to the U.S. military in 2011 due to higher vaccination rates and the finally expired stock of no longer manufactured JE-Vax®.
Intercell continues to expand the global availability of IXIARO® by increasing the number of regulatory approvals and subsequent launches in various global markets. Furthermore it is planning to launch the product with its partner Novartis in additional European countries as well as Hong Kong and Singapore as the first Asian territories during 2011.
The U.S. authorities recently confirmed to Intercell that the first postmarketing safety evaluation of IXIARO® concluded that no new safety concerns were identified and no labeling changes are requested at this time.
Progress in Intercell´s growing nosocomial vaccine franchise » Next steps defined for Pseudomonas vaccine candidate: Agreement with Novartis to advance investigational Pseudomonas vaccine into confirmatory clinical efficacy trial in ventilated ICU patients » Update on Staphylococcus aureus vaccine candidate: Study not futile - pre-specified futility criteria not met in Phase II/III trial (cardiothoracic surgery) - Independent DMC recommended suspension of enrollment pending further analyses of the benefit/risk profile - further update expected after completion of analyses. » Clostridium difficile vaccine candidate - Phase I trial progressing according to plan - First study results expected in 2011
Progress in Pandemic Influenza Vaccine Enhancement Patch (VEP) - Intercell and GSK maintain commitment on strategic patch collaboration
IC31® adjuvant Novartis has initiated a Phase I clinical trial, combining an undisclosed vaccine candidate with Intercell's IC31® adjuvant. Under a Strategic Alliance Agreement signed in 2007, Novartis received a non exclusive license for the use of IC31® in selected new vaccines.
Corporate » Thomas Lingelbach appointed new CEO of Intercell, effective May 10, 2011; Gerd Zettlmeissl resigns from the management board as of today
The full report can be downloaded at http://www.intercell.com/main/fo rinvestors/downloads/quarterly-reports/
end of announcement euro adhoc --------------------------------------------------------------------------------
Contact:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com
Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wien / official market