EANS-Adhoc: Intercell AG announces Q1 2012 results and operational update
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quarterly report
08.05.2012
» Solid IXIARO®/JESPECT® sales revenues up by 36.4% to EUR 4.6m in Q1 2012
compared to Q1 2011
» Net loss reduced by 28.2 % to EUR 8.1m; cash position of EUR 38.5m at quarter
end
Q1 2012 financial results
» Total revenues of EUR 6.0m in Q1 2012 compared to EUR 5.7m in Q1 2011 - lower
revenues from collaboration and licensing were offset by higher JEV sales
» Reduction of R&D expenses by 28.3% to EUR 5.7m in Q1 2012 (Q1 2011: EUR 7.9m)
and reduction of SG&A expenses by 3.3% to EUR 4.1m (Q1 2011: EUR 4.2m)
» Net loss of EUR 8.1m in Q1 2012 compared to EUR 11.3m in Q1 2011
» Cash position of EUR 38.5m at the end of Q1 2012 compared to EUR 50.9m at the
end of December 2011
Key Financial Information
TEUR 3 months ended
March 31, Year ended
2012 2011 Dec 31, 2011
Revenues 5,994 5,692 32,884
Net loss (8,077) (11,257) (29,265)
Net operating cash flow (8,949) (23,453) (42,858)
Cash,short-term deposits
and marketable securities,
end of period 38,451 87,697 50,859
Solid product sales growth performance - Launch preparations in India
IXIARO®/JESPECT® product sales revenues increased by 36.4 % to EUR 4.6m in Q1
2012 compared to EUR 3.3m in Q1 2011. Intercell is on track for the sales
revenue - growth expectations for the full year 2012 of EUR 8-10m.
Intercell's partner Biological E. Ltd. is preparing to launch the Japanese
Encephalitis vaccine to protect small children and adults in India in H1 2012.
The product will be marketed under the brand name JEEV®.
Intercell began the submission process to major regulatory agencies for approval
of IXIARO®/JESPECT® pediatric label extension. The pediatric approval is
expected by the end of 2012 or beginning of 2013.
Intercell received a positive CHMP opinion on the close out of the EMA Article
20 procedure (Commission Regulation (EC) No 726/2004) initiated in June 2011 in
connection with a voluntary, batch specific recall in May 2011. Currently the
European Commission (EC) adoption procedure towards final EC decision is
progressing and the formal close out by the European Commission is expected for
Q2 2012.
R&D programs and activities on track
Pseudomonas aeruginosa vaccine candidate - On March 13, Intercell announced the
start of a pivotal Phase II/III efficacy trial of its investigational
Pseudomonas aeruginosa vaccine. The trial follows an exploratory Phase II study
in which lower all-cause mortality rates were observed in the vaccine groups as
compared to the control group. First interim data of the futility analysis are
expected by mid 2013.
Clostridium difficile vaccine candidate -Intercell initiated the second part of
the Phase I clinical trial (Phase Ib) with the Company's vaccine candidate IC84
to prevent C. difficile infection. This follows positive first data from a Phase
I study (Phase Ia) in a population of healthy adults aged 18-65 years. Results
are expected by mid 2013.
Tuberculosis: In addition to the Phase II study announced in January 2012,
Intercell and Statens Serum Institut (SSI) will initiate a second clinical Phase
II study to assess the safety and immunogenicity of the vaccine candidate in
healthy adolescents by mid 2012.
Pandemic Influenza Vaccine Enhancement Patch (VEP): The currently ongoing Phase
I study investigates Intercell's adjuvant patch (Vaccine Enhancement Patch -
VEP) containing LT (a heat-labile toxin from E.coli) in combination with GSK's
H5N1-pandemic antigen. Final data are expected in mid or late 2012.
Pre-clinical activities: Intercell's pre-clinical lead vaccine candidate against
Borrelia (Lyme Borreliosis) is heading towards pre-clinical proof of concept.
The report can be downloaded at
http://www.intercell.com/main/forinvestors/downloads/quarterly-reports/
Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222
communications@intercell.com
end of announcement euro adhoc
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issuer: Intercell AG
Campus Vienna Biocenter 3
A-1030 Wien
phone: +43 1 20620-0
FAX: +43 1 20620-800
mail: investors@intercell.com
WWW: www.intercell.com
sector: Biotechnology
ISIN: AT0000612601
indexes: ATX Prime
stockmarkets: official market: Wien
language: English