Vical Incorporated Reports Third Quarter 2012 Financial Results and Progress in Key Development Programs
Published: Nov 07, 2012
SAN DIEGO, Nov. 7, 2012 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today reported financial results for the three months and nine months ended September 30, 2012. Revenues were $2.2 million for the third quarter of 2012 compared with $26.6 million for the third quarter of 2011. The decrease in revenues was primarily a result of recognizing $25.1 million of license revenue from Astellas Pharma Inc. in the third quarter of 2011 for TransVax™, Vical's therapeutic vaccine designed to control cytomegalovirus (CMV) reactivation in transplant recipients. Net loss was $7.7 million for the third quarter of 2012, compared with net income of $16.4 million for the third quarter of 2011.