Intercell AG

EANS-Adhoc: Intercell AG
Intercell AG announces Q3 2011 results and provides an update on ongoing operations

  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
9-month report


» IXIARO®/JESPECT® net product sales of EUR 15.5m in the first nine months of
  2011 - an increase of 65% compared to 2010

» Re-structuring measures successfully implemented - operating loss for the
  first nine months of 2011 reduced by 63% compared to 2010

» Development programs progressing according to plan

» Significant progress in net loss-reduction (minus 72% in Q3) and cash  
  conservation (EUR 68.8m liquid funds at quarter-end)

Vienna (Austria), November 8, 2011 - Today, Intercell AG (VSE: ICLL) announced
its financial results for the third quarter of 2011 and provided an update on
its operations.

Financial results 

» Year-on-year revenue growth of 22.7% for the first nine months driven by
  strong IXIARO®/JESPECT® sales revenues.
» Net loss of EUR 7.8m in Q3 2011 and EUR 20.6m for the first 9 months of 2011.

» Cash position of EUR 68.8m at quarter-end.

» Unchanged net loss expectation of EUR 30-40m for full year 2011.

Key Financial Figures

TEUR                   3 months ended         9 months ended    Year ended
                        September 30           September 30         Dec 31,
                       2011      2010        2011       2010          2010

Revenues              7,527     6,704       25,904     21,118       34,215

Net profit/loss     (7,754)  (27,844)     (20,620)   (50,892)     (255,182)

Net operating 
cash flow           (3,035)  (22,724)     (31,940)   (49,218)      (65,120)

Cash and marketable 
end of period       68,791    107,141      68,791      107,141      86,182


The IXIARO®/JESPECT® sales revenues exceeded EUR 15m in the first nine months
2011 and showed a year-on-year revenue growth of 65% compared to the prior year.
Hence, the product sales development is progressing towards the company´s
expectations for a full year-on-year growth of 60-70% compared to 2010. 

In September Intercell and its partner, Biological E. Ltd., announced the
successful completion of a pediatric pivotal Phase II/III study for its vaccine
to protect children from Japanese Encephalitis (JE). Analysis of the pivotal
Phase III safety and immunogenicity data showed positive results, and the study
met its primary endpoint. 

The pediatric development program for IXIARO®/JESPECT® label extension for
children is progressing. 

As an important step to fully license its Quality Control Operations at the
Vienna site, Intercell successfully passed a pre-approval inspection by the U.S.
Food and Drug Administration (FDA).

Re-structuring measures successfully implemented 

The commercial operations at Intercell´s U.S. site in Gaithersburg (MD) have
been consolidated. The patch R&D activities have been successfully transferred
to Vienna. The transfer of facility leases and sale of residual equipment is

Update on development programs - good progress 

Pseudomonas aeruginosa infections - In September Intercell received
positive scientific advice from the European Medicines Agency (EMA) for an
investigational Pseudomonas vaccine Phase II/III study. Intercell is
preparing for the pivotal clinical efficacy trial of the Pseudomonas
aeruginosa vaccine candidate in ventilated ICU (Intensive Care Unit)

Clostridium difficile vaccine candidate - Intercell received positive first
data from a Phase I clinical trial with the Company's vaccine candidate,
IC84, to prevent disease caused by the bacterium Clostridium difficile (C.
difficile). Data showed good safety and immunogenicity of the vaccine
candidate and indicates functionality of the induced antibodies.

Pandemic Influenza Vaccine Enhancement Patch (VEP): The enrollment for the
confirmatory Phase I trial is nearing completion, and a first safety
analysis has been completed. 

Hepatitis C: Romark is still awaiting regulatory clearance for study
initiation of a combination Phase II trial which is expected to start in H2
2011. In the absence of receipt of regulatory clearance in the near future,
the trial will not proceed as expected. 

The full report can be downloaded at

Further inquiry note:
Intercell AG
Nina Waibel
Corporate Communications
Tel. +43 1 20620-1222

end of announcement                               euro adhoc 

issuer:      Intercell AG
             Campus Vienna Biocenter  3
             A-1030 Wien 
phone:       +43 1 20620-0
FAX:         +43 1 20620-800
sector:      Biotechnology
ISIN:        AT0000612601
indexes:     ATX Prime
stockmarkets: official market: Wien 
language:   English

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