Intercell AG Announces Q1 2010 Results and Updates on R&D Progress

Tuesday, May 11, 2010 General News
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VIENNA, May 11 Today, the biotech-vaccine company Intercell AG (VSE: ICLL) announced its financial results for Q1 and presented an update on the Company's development programs.

Financial Results

IXIARO®/JESPECT®

A strong focus is given to the IXIARO®/JESPECT® vaccine business to grow sales in the traveler and military markets. After having received a broadened vaccination recommendation in the U.S. in 2009, the Joint Committee on Vaccination and Immunization (JCVI) in the UK has now also extended its Japanese Encephalitis immunization recommendation to include the Intercell vaccine. Additional recommendations are expected for other key countries in Europe. These recommendations are essential to continue advancing product awareness and market growth for the Intercell vaccine to prevent Japanese Encephalitis.

Product sales are expected to increase significantly in Q2 2010, supported by the upcoming travel season. Intercell had previously announced that new product supplies designated for marketing and distribution partners, shifted from Q1 to Q2 2010 due to supply-planning and lot release timing for European markets.

The development targeting the Asian endemic markets is progressing further. The Phase III start for the endemic Japanese Encephalitis vaccine produced by Intercell's partner Biological E. in India is expected to commence by the end of 2010 under a revised regulatory path to licensure by Indian authorities.

Good progress in development pipeline - clinical programs progressing according to plan

The full report can be downloaded at http://www.intercell.com/main/forinvestors/downloads/quarterly-reports/

This communication expressly or implicitly contains certain forward-looking statements concerning Intercell AG and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Intercell AG to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Intercell AG is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

-- EUR 4.8m revenues in Q1 2010 compared to EUR 5.4m in Q1 2009. -- IXIARO®/JESPECT® product sales in line with Q1 2009 reflecting low level of new product supplies in Q1 2010; new product supplies to marketing and distribution partners shifted from Q1 to Q2 2010 due to supply-planning and lot release timing. -- EUR 14.7m net loss for Q1 2010 compared to EUR 8.2m in Q1 2009. -- EUR 17.9m R&D expenses in Q1 2010 - up 19.1 percent compared to EUR 15.1m in Q1 2009 - mainly due to late-stage research and development costs for the TD vaccine patch. -- Strong cash position: EUR 158.2m in liquid funds at March 31, 2010.

SOURCE Intercell AG


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