Intercell AG Announces Q3 2010 Results and Updates on R & D Progress and Management

VIENNA, Nov. 9, 2010 /PRNewswire-FirstCall/ — Today, Intercell
AG (VSE: ICLL) announced its financial results for the third
quarter of 2010 and presented an update on the Company’s key
R&D programs as well as changes to the Management Board.

Financial Results

IXIARO and JESPECT sales revenues continue showing significant
year-on-year growth – sales revenues totaled EUR 9.4m in the
9 months ended September 30, 2010, compared to EUR 5.6m in the same
period of the previous year. Intercell’s aggregate revenues
decreased by 28.4% from EUR 29.5m in the 9 months ended
September 30, 2009 to EUR 21.1m in the same period of 2010.
Net loss for the first nine months of 2010 increased to EUR 50.9m
mainly driven by increased R&D expenses for late stage
development programs and non-cash currency effects. Solid cash
position with EUR 107.1m. Outlook full year 2010: Net loss for the
full year 2010 expected to reach approximately EUR 40.0m, at the
high end of previously communicated range, and this assumes
positive outcome of upcoming milestone events.

Key Financial FiguresEUR in thousands

3 months ended

9 months ended

Year endedSept 30,

2010Sept 30,

2009

Sept 30,

2010Sept 30,

2009

Dec 31,

2009Revenues

6,7049,159

21,11829,480

61,681Net profit/(loss)

(27,844)(14,671)

(50,892)(25,925)

(18,375)Net operating cash flow

(22,724)(14,753)

(49,218)(43,322)

(25,995)Cash and available-for-sale financial assets, end of
period

107,141139,746

107,141139,746

180,019IXIARO®/JESPECT®Intercell reports that the
positive trend of increasing sales of IXIARO/JESPECT seen in Q2
2010 continued in Q3. Intercell’s product is the only vaccine
against Japanese Encephalitis licensed in Europe. It is
manufactured for, and supplied into, the U.S., EU and Canada and
the only

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