Intercell Does Not Leave the Loss zone
Published: March 6, 2012; 13:02 · (Vindobona)
The Austrian pharmaceutical company announces preliminary full year 2011 financial results. Losses totaled € 29m.
Intercell Does Not Leave the Loss zone / Picture: © Intercell
Intercell noted total revenues of € 32.9m in 2011 compared to € 34.2m in 2010, which is due to lower collaboration revenues. In the last quarter of 2011, revenues reached € 6.98m, after € 13.1m in 2010. The company decided to reduce R&D expenses by 60.0% to € 29.9m and SG&A expenses by 20.1% to € 15.8m.
Net loss reached € 29.3m in the year 2011, compared to € 255.2m in 2010. The fourth quarter caused losses of € 8.65m (Q4 2010: € 204.29m). The company´s net operating cash flow was still highly negative. After € -65.1m in 2010, operating cashfow accounted for € -42.86m last year. Intercell´s cash position amounted to € 50.9m at year-end (2010: € 86.18m)
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