VIENNA, May 10, 2011 /PRNewswire/ — 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
Year-on-year revenue growth of 19.7% driven by strong
IXIARO®/JESPECT® sales revenues Restructuring process
progressing successfully – operating loss reduced by 33.1%
Higher sales and reduced spending lead to reduced net loss of EUR
11.3m Cash position of EUR 87.7m at quarter-end Unchanged net loss
expectation of EUR 3
40m for full year 2011
Key Financial Figures EUR in thousands
3 months ended
March 31,Year ended Dec. 31,201120102010Revenues
5,6924,75634,215Net loss
(11,257)(14,702)(255,182)Net operating cash flow
(23,453)(15,468)(65,120)Cash and marketable securities, end
of period
87,697158,21686,182IXIARO®/JESPECT® Revenues from
IXIARO®/JESPECT® product sales increased from EUR 0,4m in
Q1 2010 to EUR 3.3m in Q1 2011. This excellent result in the
usually weakest quarter of the year – due to travel seasonality –
reflects the positive trend of increasing sales of
IXIARO®/JESPECT® a already seen in 2010 in key travel
markets and to U.S. military.
Intercell expects a growth of sales to the U.S. military in
2011 due to higher vaccination rates and the finally expired stock
of no longer manufactured JE-Vax®.
Intercell continues to expand the global availability of
IXIARO® by increasing the number of regulatory approvals and
subsequent launches in various global markets. Furthermore it is
planning to launch the product with its partner Novartis in
additional European countries as well as Hong Kong and Singapore as
the first Asian territories during 2011.
The U.S. authorities recently confirmed to Intercell that the
first postmarketing safety
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