Intercell Q3 net loss narrows, confirms expected FY net profit in 2007 UPDATE |
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Published
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Mon, 19 Nov 2007 08:47
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(Updating with further details)VIENNA (Thomson Financial) - Austrian vaccine company Intercell AG said net loss for the third quarter narrowed 31.2 pct on the year to 6.5 mln eur thanks to a strong increase in revenues in the three-month period.Revenues in the three months to Sept 20 increased to 7.4 mln eur compared with 0.7 mln in the same period a year before, Intercell said.Intercell said it now expects to report a first-time net profit for 2007 thanks to already confirmed income licence agreements and sees further 'significant' earnings growth in 2008.Research and development costs in the third quarter grew 17 pct to 9.8 mln eur following the progress of development programs, which are 'all fully on track,' Intercell said.At Sept 30, Intercell had a cash position of 218.6 mln and sees this increasing to 300 mln by the end of the year on committed further payments, the company said.The finalisation of market approval filing for its Japanese Encephalitis is planned for December is also 'on track', according to Intercell.fiona.flanagan@thomson.comff/lamCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Intercell Q3 net loss narrows 31.2 pct, confirms expected FY net profit in 2007 