EANS-Adhoc: Intercell AG announces Q1 2012 results and operational update

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quarterly report

08.05.2012

» Solid IXIARO®/JESPECT® sales revenues up by 36.4% to EUR 4.6m in Q1
2012 compared to Q1 2011 » Net loss reduced by 28.2 % to EUR 8.1m;
cash position of EUR 38.5m at quarter end

Q1 2012 financial results

» Total revenues of EUR 6.0m in Q1 2012 compared to EUR 5.7m in Q1
2011 - lower revenues from collaboration and licensing were offset by
higher JEV sales » Reduction of R&D expenses by 28.3% to EUR 5.7m in
Q1 2012 (Q1 2011: EUR 7.9m) and reduction of SG&A expenses by 3.3%
to EUR 4.1m (Q1 2011: EUR 4.2m) » Net loss of EUR 8.1m in Q1 2012
compared to EUR 11.3m in Q1 2011 » Cash position of EUR 38.5m at the
end of Q1 2012 compared to EUR 50.9m at the end of December 2011

Key Financial Information

TEUR 3 months ended
March 31, Year ended
2012 2011 Dec 31, 2011

Revenues 5,994 5,692 32,884
Net loss (8,077) (11,257) (29,265)
Net operating cash flow (8,949) (23,453) (42,858)
Cash,short-term deposits

and marketable securities,
end of period 38,451 87,697 50,859

Solid product sales growth performance - Launch preparations in India

IXIARO®/JESPECT® product sales revenues increased by 36.4 % to EUR
4.6m in Q1 2012 compared to EUR 3.3m in Q1 2011. Intercell is on
track for the sales revenue - growth expectations for the full year
2012 of EUR 8-10m.

Intercell's partner Biological E. Ltd. is preparing to launch the
Japanese Encephalitis vaccine to protect small children and adults in
India in H1 2012. The product will be marketed under the brand name
JEEV®.

Intercell began the submission process to major regulatory agencies
for approval of IXIARO®/JESPECT® pediatric label extension. The
pediatric approval is expected by the end of 2012 or beginning of
2013.

Intercell received a positive CHMP opinion on the close out of the
EMA Article 20 procedure (Commission Regulation (EC) No 726/2004)
initiated in June 2011 in connection with a voluntary, batch specific
recall in May 2011. Currently the European Commission (EC) adoption
procedure towards final EC decision is progressing and the formal
close out by the European Commission is expected for Q2 2012.

R&D programs and activities on track

Pseudomonas aeruginosa vaccine candidate - On March 13, Intercell
announced the start of a pivotal Phase II/III efficacy trial of its
investigational Pseudomonas aeruginosa vaccine. The trial follows an
exploratory Phase II study in which lower all-cause mortality rates
were observed in the vaccine groups as compared to the control group.
First interim data of the futility analysis are expected by mid 2013.

Clostridium difficile vaccine candidate -Intercell initiated the
second part of the Phase I clinical trial (Phase Ib) with the
Company's vaccine candidate IC84 to prevent C. difficile infection.
This follows positive first data from a Phase I study (Phase Ia) in a
population of healthy adults aged 18-65 years. Results are expected
by mid 2013.

Tuberculosis: In addition to the Phase II study announced in January
2012, Intercell and Statens Serum Institut (SSI) will initiate a
second clinical Phase II study to assess the safety and
immunogenicity of the vaccine candidate in healthy adolescents by mid
2012.

Pandemic Influenza Vaccine Enhancement Patch (VEP): The currently
ongoing Phase I study investigates Intercell's adjuvant patch
(Vaccine Enhancement Patch - VEP) containing LT (a heat-labile toxin
from E.coli) in combination with GSK's H5N1-pandemic antigen. Final
data are expected in mid or late 2012.

Pre-clinical activities: Intercell's pre-clinical lead vaccine
candidate against Borrelia (Lyme Borreliosis) is heading towards
pre-clinical proof of concept.

The report can be downloaded at http://www.intercell.com/main/forinve
stors/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
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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