13.11.2006 – 07:45

Intercell AG

euro adhoc: Intercell AG
quarterly or semiannual financial statement / Intercell announces Q3 results: Technologies continue to deliver new product candidates - Strong financial situation

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13.11.2006

Latest Achievements: » EU Grant of EUR 2.3 million for the
development of an otitis media vaccine  » EU Grant of EUR 3.5 million
for the development of a pandemic influenza    vaccine

Technologies continue to create value and prime partnerships »
Strategic alliance with Merck to develop a prophylactic vaccine
against    Group A Streptococcus - USD 85.5 million agreement »
Strategic alliance with Wyeth for the use of Intercell’s IC31TM
adjuvant in    various selected infectious disease vaccines -
payments up to USD 77 million  » Collaboration with PATH for the
development of Intercell’s Streptococcus    pneumoniae vaccine - USD
7.3 m initial funding

Significant progress in product development » Positive results for
Intercell’s Japanese Encephalitis virus vaccine in the    pivotal
Phase III safety trial - Regulatory process towards a Biologics
License Application (BLA) in the United States initiated »
Intercell's therapeutic Hepatitis C T-cell vaccine advances to next
Phase II    clinical trial in chronic Hepatitis C patients using the
optimized route and    frequency of administration  » Intercell
terminates its preclinical collaborative development project for a
therapeutic Hepatitis B vaccine in order to focus its partnership
portfolio

Financials: » Revenues were EUR 6.5 million for the first three
quarters of 2006, compared    to EUR 4.8 million in the same period
of 2005 (up 35.4%) » Primarily due to advancement of JEV vaccine
development, net loss increased    by 21.8% to EUR 21.8 million in
the nine months ended September 30, 2006 from    EUR 17.9 million in
the comparative period of 2005 » Strong cash position of EUR 83.7
million - strong cash-flows from strategic    partnerships expected
in Q4 2006

Vaccine company Intercell AG (VSE: ICLL) today announced its
financial results for the third quarter of 2006.

Intercell’s aggregate revenues in the nine months ended September 30,
2006 were EUR 6.5 million, compared to EUR 4.8 million in the same
period of 2005. This 35.4 percent increase was due to higher revenues
from collaborations and licensing, which increased by 55.6 percent
from EUR 3.6 million in the first nine months of 2005 to EUR 5.6
million in the first nine months of 2006. Grant income decreased by
25.0 percent, from EUR 1.2 million in the first three quarters of
2005 to EUR 0.9 million in the first three quarters of 2006.

Intercell’s net loss increased by EUR 3.9 million, or by 21.8
percent, from EUR 17.9 million in the first nine months of 2005 to
EUR 21.8 million in the nine months ended September 30, 2006. This
increase in net loss was due to an increase in research and
development expenses of 24.6 percent and an increase in sales,
general and administrative expenses of 18.3 percent. Research and
development expenses were EUR 21.8 million in the first three
quarters of 2006, compared to EUR 17.5 million in the first three
quarters of 2005. This increase was primarily due to increased costs
relating to the Phase III clinical trials for Intercell’s JEV
vaccine.

Sales general and administrative expenses increased to EUR 7.1
million in the nine months ended September 30, 2006 from EUR 6.0
million in the same period of 2005 and resulted primarily from higher
personnel expenses. In aggregate, net operating expenses in the first
three quarters of 2006 increased by 18.8 percent to EUR 27.8 million,
from EUR 23.4 million in the first nine months of 2005.

Financial Highlights
EUR in thousands            9 months ended             Year ended
                  Sept. 30, 2006   Sept. 30, 2005   Dec. 31, 2005
Revenues                  6,483          4,797          8,469
Net loss                (21,761)       (17,890)       (25,060)
Net operating cash flow (18,059)       (16,166)       (24,023)
Cash and marketable
securities, end of
period                   83,711         59,701         50,178

The full quarterly report including un-audited financial statements
can be downloaded at www.intercell.com.

end of announcement                               euro adhoc 13.11.2006 07:00:31

Further inquiry note:

Intercell AG
Mag. Katharina Wieser
Head of Corporate Communications
Tel. +43 1 20620-303
kwieser@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Börsen: Wiener Börse AG / official market