EANS-Adhoc: Intercell AG
Intercell AG announces Q3 2011 results and provides
an update on ongoing operations
08.11.2011 – 07:31
-------------------------------------------------------------------------------- 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. -------------------------------------------------------------------------------- 9-month report 08.11.2011 » 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 securities, end of period 68,791 107,141 68,791 107,141 86,182 IXIARO®/JESPECT® 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 underway. 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) patients. 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 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 -------------------------------------------------------------------------------- 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