) suffered a net loss per share of 9 cents in the fourth quarter
of 2012, narrower than the Zacks Consensus Estimate of a loss of
10 cents per share but flat year over year.
Vical reported revenues of $2.3 million in the fourth quarter
of fiscal 2012, up 20% from a year ago and beating the Zacks
Consensus Estimate of $2.0 million.
Contract and grant revenues came in at $1.9 million, up 18.1%
from a year-ago. License and royalty revenues came in at $0.4
million, up 29.7% from a year-ago.
Research & Development decreased 13.3% to $3.4 million.
General and administrative increased to $2.7 million.
For 2012, net loss came in at 27 cents per share wider than a
loss of 10 cents in 2011 due to lower license revenues. The loss
was however narrower than the Zacks Consensus Estimate of a loss
of 35 cents per share.
For 2012, revenues were $17.5 million, down 41.7% from a year
ago due to lower payments from partner
Astellas Pharma Inc.
Vical has a license agreement with Astellas Pharma for the
development and commercialization of the candidate TransVax.
TransVax, a first-in-class DNA vaccine, is currently in a late
stage study for the prevention of cytomegalovirus (CMV)
reactivation in transplant recipients.
Vical Inc. specializes in the research and development of
biopharmaceutical drugs, which are based on the company's
patented DNA delivery technologies, for the prevention and
treatment of life threatening diseases like cancer.
Vical received a $25.0 million upfront license payment from
Astellas in 2011, a $10.0 million milestone license payment in
2012 and increased contract revenues from Astellas for the
delivery of clinical trial material for planned TransVax trials.
Astellas intends to commence a phase III study of TransVax in
hematopoietic stem cell transplant (HSCT) recipients and a phase
II study of TransVax for solid organ transplant recipients soon
in the first half of 2013.
Vical signed an agreement with
Bristol-Myers Squibb Company
) in Sep 2012 providing the latter with a global, non-exclusive
license to its patented platform DNA immunization technology and
Vaxfectin adjuvant. The company plans to further invest in its
pipeline in 2013.
Vical currently has a Zacks Rank #3 (Hold). Currently,
) is better placed with a Zacks Rank #2 (Buy).
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