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Intercell AG

EANS-Adhoc: Intercell AG
Intercell AG announces Q1 2009 results and business update:

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
  announcement.
3-month report
11.05.2009
» First product sales of Japanese Encephalitis vaccine in Australia
» Solid revenue growth and profitability expected for full year  2009
» Excellent progress in vaccine development: Start of Phase II with  
investigational Vaccine Enhancement Patch against Pandemic Influenza 
expected soon
Vienna (Austria), May 11, 2009 - Today, Intercell AG (VSE: ICLL) 
announced its financial results for the first quarter of 2009 and 
presented an update on the Company's development programs.
Following the approval of its Japanese Encephalitis vaccine, 
Intercell posted its first revenues from product sales of EUR 0.4 m 
in Q1 2009. The company´s aggregate revenues decreased from EUR 8.6 m
in Q1 2008 to EUR 5.4 m in Q1 2009. Research and development expenses
increased from EUR 10.4 m in Q1 2008 to EUR 15.1 m in Q1 2009. 
Intercell´s net loss increased from EUR 4.6 m in Q1 2008 to EUR 8.2 m
in Q1 2009. The increased loss was primarily due to a decrease in 
revenues and an increase in research and development expenses. For 
the full year 2009, management expects solid revenue growth and 
profitability, based on product sales and collaboration revenues. 
With liquid funds of EUR 172.2 m as of March 31, 2009 Intercell has a
strong financial and strategic position.
Intercell's vaccine to prevent Japanese Encephalitis (JE) approved in
the USA, Europe and Australia
Europe
Intercell's new vaccine to prevent JE, IXIARO® has been approved by 
the European Commission. Novartis will introduce the product in 
Europe within May 2009.
USA
On March 31, 2009, Intercell announced the FDA approval of IXIARO. 
Last week, an exclusive multi-year contract was signed by Intercell 
and the U.S. Department of Defense for purchase of IXIARO® - first 
sales of IXIARO under this military contract and on the US traveler 
market are expected soon.
Australia
In Australia, where Intercell's vaccine was approved in January 2009,
delivery to travel clinics has started and first product sales have 
been recognized.
Next expected steps are to expand approvals in other markets (i.e., 
Canada, Switzerland) and to start Phase III studies in children.
Start of a Phase II trial of Intercell´s investigational Vaccine 
Enhancement Patch to prevent Pandemic Influenza expected soon
All preparations are on track for the start of a clinical Phase II 
trial investigating the effectiveness of the Vaccine Enhancement 
Patch in combination with an injected Pandemic Influenza vaccine to 
improve prevention of Pandemic Influenza. The investigational Vaccine
Enhancement Patch to improve Pandemic Influenza prevention is 
developed in collaboration with the U.S. Department of Health and 
Human Services (HHS) - the Intercell and HHS contract allows for 
potential funding of up to USD 128 m for the clinical development of 
the Vaccine Enhancement Patch. First data from this trial are 
expected at the end of 2009.
Start of a Phase III clinical study for Travelers´ Diarrhea Vaccine 
Patch expected for Q2 2009, providing the H1N1 Flu situation in 
Mexico and surrounding areas is resolved
The Phase III TREK study will follow travelers from the USA and 
Europe to Mexico and Guatemala and will evaluate the prevention of 
diarrhea. The randomized, placebo-controlled study will include some 
1,800 individuals from the USA and Europe. The start of the study is 
still planned for Q2.
Pipeline Vaccines - development according to plan
S. aureus vaccine Phase II/III clinical trials - study progress 
according to plan (Merck & Co. Inc) - Phase II interim data expected 
later in 2009.
Pseudomonas aeruginosa vaccine Phase II study (started at the end of 
2008) is progressing well - initial results expected later in 2009.
Streptococcus pneumoniae vaccine On April 7, 2009, Intercell 
announced the start of a clinical Phase I trial with the company's 
vaccine candidate - initial results expected by the end of 2009.
Therapeutic Hepatitis C vaccine
strategic partnering process ongoing.
Tuberculosis vaccine Phase I/II clinical development proceeding 
according to plan (Intercell, Statens Serum Institut, Sanofi Pasteur,
AERAS Global Tuberculosis Foundation).
Other
In March, Reinhard Kandera was appointed as Intercell's new Chief 
Financial Officer (CFO). In his new role, he is responsible for 
global Finance and Investor Relations.
In order to provide a more convenient way for US investors to invest 
in Intercell, the company announced in May that it had launched a 
sponsored Level 1 American Depositary Receipt (ADR) facility in the 
United States.
Key Financial Figures
TEUR                        3 months ended
                               March 31,        Year ended Dec. 31,
                           2009      2008            2008
Revenues                   5,424     8,625          55,763
Net profit / (loss)       (8,176)   (4,617)         17,175
Net operating cash flow  (14,251)  (12,808)        (10,186)
Cash and available-
for-sale financial assets 172,200   272,223        190,865
end of announcement                               euro adhoc

Further inquiry note:

Intercell AG
Lucia Malfent
Head of Corporate Communications
Tel. +43 1 20620-1303
lmalfent@intercell.com

Branche: Biotechnology
ISIN: AT0000612601
WKN: A0D8HW
Index: ATX Prime, ATX
Börsen: Wien / official market

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