Intercell AG

euro adhoc: Intercell AG
Financial Figures/Balance Sheet
Intercell announces Q4 and full year 2006 results: Successful progress in partnerships increased revenues by 176.5 percent - All development programs on track - Strong strategic position for 2

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A strong and solid financial position at year end 2006 for further growth

» Technologies created significant value - revenues of EUR 23.5
million, an      increase of 176.5 percent - driven by successful
progress in existing and      new partnerships » R&D costs of EUR 31.0
million enabled to drive all programs forward at full      speed to
create the maximum value out of the product and technology platforms
» Strong cash position with EUR 94.4 million  » 35.9 percent decrease
of net loss from EUR 25.1 million in 2005 to EUR 16.1      million in
2006 represents the turnaround of the previous trend of      increasing
annual losses

A clear strategy to market for the first product - Intercell’s Japanese Encephalitis Vaccine

» Pivotal Phase III immunogenicity and safety trials successfully
completed » US regulatory filing initiated - full BLA submission
expected in H2 2007 » Joint launch activities with Novartis for
private markets on track for H1      2008  » Start of pediatric trials
in Asia planned for H1 2007 » Partnership for Japan expected in 2007

Become a leader in an attractive new market - Nosocomial Infections

» S.aureus Vaccine partnered with Merck: Promising results in Phase I
clinical      studies - Phase II expected to start in 2007 »
Acquisition of Pelias completed - Pseudomonas Vaccine with promising
Phase      II data successfully integrated into Intercell’s pipeline -
Start of Phase      II/III planned for end 2007/early 2008

Important milestone ahead - Intercell’s Hepatitis C Vaccine

» Phase II "proof - of - concept" study fully recruited - first data
expected      for mid 2007 » Forward strategies comprise options for
mono- and/or combination therapies

Broaden the pipeline and create business opportunities - Intercell’s technologies

» Data of Intercell’s adjuvant (IC31TM) in clinical proof of concept
study in      Tuberculosis Vaccine (Phase I) expected in H1 2007  »
AIP® technology geared up to deliver further new product candidates
for own      development and/or partnering activities in 2007

Vienna (Austria), March 5, 2007 - Vaccine company Intercell AG (VSE: ICLL) today announced financial results for the fourth quarter and the full year 2006:

Q4 2006 Financial review

Intercell’s aggregate revenues increased from EUR 3.7 million in the fourth quarter 2005 to EUR 17.0 million in the fourth quarter 2006. This strong increase was due to outstanding revenues from collaborations and licensing of EUR 16.0 million in the three months ended December 31, 2006, compared to EUR 2.7 million in the same period of the prior year. Revenues resulted primarily from a milestone payment of EUR 10 million under the marketing and distribution agreement for Intercell’s Japanese Encephalitis Vaccine with Novartis, following submission of positive Phase III data, and from an up-front license payment, partially recognized as revenue in the fourth quarter 2006, from Merck&Co., Inc. under a new partnership to develop a prophylactic vaccine and antibody treatment against Group A Streptococcus.

Driven by revenues from collaborations and licensing, Intercell could achieve its first profitable quarterly result ever in the fourth quarter 2006. Net income was EUR 5.6 million, compared to a net loss of EUR 7.2 million in the fourth quarter 2005.

Research and development costs decreased from EUR 11.0 million in the fourth quarter 2005 to EUR 9.2 million in the same period in 2006 due to a decrease in clinical trial costs.

Full year 2006 Financial Review

Intercell’s aggregate annual revenues increased from EUR 8.5 million in the year ended December 31, 2005 to EUR 23.5 million in the year ended December 31, 2006, or by 176.5 percent. This strong increase was due to higher revenues from collaborations and licensing resulting from new partnerships with pharmaceutical companies and from significant progress made in the existing collaborations. Revenues from collaborations and licensing were EUR 21.5 million in 2006, compared to EUR 6.3 million in 2005, which represents an increase of 241.3 percent.

Intercell’s net loss for the year ended December 31, 2006 was EUR 16.1 million, compared to EUR 25.1 million in 2005. This decrease by 35.9 percent represents a change in the trend of increasing net losses throughout the previous years. The decrease in net loss was due to the strong increase in revenues, while net operating expenses also continued to increase as a result of the progress of Intercell’s development programs. Research and development costs increased from EUR 28.5 million in 2005 to EUR 31.0 million in 2006, or by 8.8 percent. As of December 31, 2006, Intercell had liquid funds of EUR 94.4 million of which EUR 28.9 million was cash and cash equivalents and EUR 65.5 million was available-for-sale securities. The full quarterly report including un-audited financial statements can be downloaded at

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ots Originaltext: Intercell AG
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Further inquiry note:
Intercell AG
Mag. Katharina Wieser
Head of Corporate Communications
Tel. +43 1 20620-303

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

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