Vical Press Releases

Vical Reports First Quarter 2013 Financial Results and Progress in Key Development Programs

Thu, 09 May 2013 06:30:00 -0400

SAN DIEGO, May 9, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today reported financial results for the quarter ended March 31, 2013. Revenues decreased to $1.6 million for the first quarter of 2013 compared with $11.5 million for the first quarter of 2012, primarily as a result of the recognition in 2012 of a $10 million milestone payment from Astellas Pharma Inc. for progress with TransVax™, Vical's therapeutic vaccine designed to control cytomegalovirus (CMV) in transplant recipients.

Net loss was $9.3 million, or $0.11 per share, for the first quarter of 2013, compared with net income of $0.2 million, which rounds to $0.00 per share, for the first quarter of 2012. Vical had cash and investments of approximately $78 million at March 31, 2013. The company's first quarter 2013 net cash use was consistent with the company's prior guidance for the full year.

Program highlights include:

Allovectin^®

The company is approaching completion of a Phase 3 registration trial of its investigational immunotherapy, Allovectin^®, vs. chemotherapy in patients with metastatic melanoma.

A survival data sweep conducted in March 2013 confirmed that the target number of death events for the secondary endpoint (overall survival) should be reached in mid-2013.
The independent assessment and adjudication process for the primary endpoint (response rate at 24 weeks or more after randomization) is advancing through final audits and quality checks, and the company expects the adjudicated response data to be locked in July 2013.
Data for both endpoints will remain blinded in separate third-party databases and be securely transferred to Vical and unblinded simultaneously. Top-line results for both endpoints are expected to be released during the third quarter of 2013.

TransVax™ CMV Vaccine

Astellas is planning to initiate a Phase 3 trial of TransVax™ for hematopoietic cell transplant (HCT) recipients in the second quarter of 2013 and to initiate a Phase 2 trial of TransVax™ for solid organ transplant (SOT) recipients soon afterward.

Herpes Simplex Vaccine

The company is planning to initiate a Phase 1/2 clinical trial of its Vaxfectin^®-formulated therapeutic vaccine against herpes simplex virus type 2 (HSV-2) in the second half of 2013.

Vaxfectin^®

The company announced the online publication of Baxter's (Baxter International Inc.) preclinical evaluations of Vical's Vaxfectin^® adjuvant in combination with Baxter's seasonal and pandemic influenza vaccines. Simple addition of Vaxfectin^® to the influenza vaccines substantially increased both antibody and T-cell responses compared with nonadjuvanted vaccines in mice and guinea pigs.

Conference Call

Vical will conduct a conference call and webcast today, May 9, at noon Eastern Time, to discuss with invited analysts and institutional investors the company's financial results and program updates. The call and webcast are open on a listen-only basis to any interested parties. To listen to the conference call, dial in approximately ten minutes before the scheduled call to (719) 325-2469 (preferred), or (888) 523-1228 (toll-free), and reference confirmation code 5720239. A replay of the call will be available for 48 hours beginning about two hours after the call. To listen to the replay, dial (719) 457-0820 (preferred) or (888) 203-1112 (toll-free) and enter replay passcode 5720239. The call also will be available live and archived through the events page at www.vical.com. For further information, contact Vical's Investor Relations department by phone at (858) 646-1127 or by e-mail at ir@vical.com.

About Vical

Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Potential applications of the company's DNA delivery technology include DNA vaccines for infectious diseases or cancer, in which the expressed protein is an immunogen; cancer immunotherapeutics, in which the expressed protein is an immune system stimulant; and cardiovascular therapies, in which the expressed protein is an angiogenic growth factor. The company is developing certain infectious disease vaccines and cancer therapeutics internally. In addition, the company collaborates with major pharmaceutical companies and biotechnology companies that give it access to complementary technologies or greater resources. These strategic partnerships provide the company with mutually beneficial opportunities to expand its product pipeline and address significant unmet medical needs. Additional information on Vical is available at www.vical.com.

Forward-Looking Statements

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include net cash use guidance, as well as anticipated developments in independent and collaborative programs, including the initiation and completion of clinical trials and the release of clinical trial results. Risks and uncertainties include whether Vical or others will continue development of Allovectin^®, TransVax™, the HSV-2 vaccine, or any other independent or collaborative programs; whether the target number of death events for the secondary endpoint (overall survival) in the company's Phase 3 Allovectin^® trial will be reached in mid-2013, if at all; whether the adjudicated response data in the company's Phase 3 Allovectin^® trial will be locked in July 2013, if at all; whether the company will release top-line data from the company's Phase 3 Allovectin^® trial during the third quarter of 2013, if at all; whether Astellas will initiate the planned HCT trial of TransVax™ in the second quarter of 2013, if at all, and the planned SOT trial of TransVax™ soon afterward, if at all; whether Vical or others will initiate a Phase 1/2 clinical trial of the HSV-2 vaccine in the second half of 2013, if at all; whether Vical, Baxter or others will develop any seasonal or pandemic influenza vaccines using Vical's Vaxfectin^® adjuvant; whether Vical will achieve levels of revenues and control expenses to meet its financial projections; whether any product candidates will be shown to be safe and efficacious in clinical trials; the timing of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

VICAL INCORPORATED
Selected Condensed Financial Information (Unaudited)

Statements of Operations	Three Months Ended March 31,
(in thousands, except per share amounts)	2013	2012
Revenues:
Contract and grant revenue	$ 1,136	$ 1,221
License and royalty revenue	438	10,239
Total revenues	1,574	11,460
Operating expenses:
Research and development	3,650	6,428
Manufacturing and production	3,713	2,472
General and administrative	3,518	2,700
Total operating expenses	10,881	11,600
Loss from operations	(9,307)	(140)
Net investment and other income	25	384
Net income (loss)	$ (9,282)	$ 244
Basic net income (loss) per share	$ (0.11)	$ 0.00
Diluted net income (loss) per share	$ (0.11)	$ 0.00
Weighted average shares used in basic net income (loss) calculation	86,638	84,519
Weighted average shares used in diluted net income (loss) calculation	86,638	86,124

Balance Sheets	March 31,	December 31,
(in thousands)	2013	2012
Assets:
Cash, cash equivalents, and marketable securities, including restricted	$ 75,437	$ 83,857
Other current assets	2,390	2,152
Total current assets	77,827	86,009
Long-term investments	2,197	2,225
Property and equipment, net	5,042	5,284
Other assets	2,933	3,004
Total assets	$ 87,999	$ 96,522

Liabilities and stockholders' equity:
Current liabilities	$ 5,276	$ 5,779
Long-term liabilities	1,569	1,657
Stockholders' equity	81,154	89,086
Total liabilities and stockholders' equity	$ 87,999	$ 96,522

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated

Vical to Present at May Investor Conferences

Tue, 07 May 2013 06:30:00 -0400

SAN DIEGO, May 7, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced scheduled presentations to provide an overview of the company's technologies, development programs, and outlook at two investor conferences in May:

Vical will present on Tuesday, May 14, at 4:20 p.m. PDT (7:20 p.m. EDT) at the Bank of America/Merrill Lynch 2013 Health Care Conference (Las Vegas, May 14 – 16).
Vical will present on Monday, May 20, at 3:30 p.m. EDT at the UBS Global Healthcare Conference (New York, May 20 – 22).

A webcast of the company's presentation at the Bank of America/Merrill Lynch conference will be available live and archived through the Events & Presentations page in the Investors section of the Vical website at www.vical.com.

About Vical

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website: www.vical.com

Source: Vical Incorporated

Vaxfectin(R) Enhances Preclinical Immune Responses to Baxter's Cell Culture-Derived Influenza Vaccines

Mon, 06 May 2013 06:30:00 -0400

SAN DIEGO, May 6, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced the online publication¹ of Baxter's (Baxter International Inc.) (NYSE:BAX) preclinical evaluations of Vical's Vaxfectin^® adjuvant in combination with Baxter's cell culture-derived seasonal and pandemic influenza vaccines. Simple addition of Vaxfectin^® to the influenza vaccines substantially increased both antibody and T-cell responses compared with nonadjuvanted vaccines in mice and guinea pigs.

Baxter's evaluations of Vaxfectin^®-adjuvanted vs. nonadjuvanted vaccines showed:

Hemagglutination inhibition (HI) antibody titers up to 20X higher against each of the three influenza virus strains in a trivalent seasonal vaccine;
HI antibody titers up to 8X higher against the H5N1 influenza virus strain in a monovalent pandemic vaccine;
T-cell frequencies up to 10X higher for each of the trivalent seasonal vaccine strains; and
T-cell frequencies up to 22X higher for the monovalent H5N1 strain.

"Seasonal influenza vaccines continue to provide suboptimal levels of efficacy, particularly in the elderly, and a good adjuvant could provide a meaningful boost in immunogenicity," said Larry R. Smith, Ph.D., Vical's Vice President of Vaccine Research and lead author on the paper. "In the pandemic influenza setting, particularly for emerging strains such as the current H7N9 outbreak in Asia, new vaccines become available initially only in very limited quantities. Lower doses of adjuvanted vaccine could provide sufficient efficacy, allowing the limited vaccine supplies to be shared among more people. Vaxfectin^® may have the potential to achieve both immunogenicity enhancement and dose sparing goals."

About Vaxfectin^®

Vaxfectin^® is a novel adjuvant discovered through extensive screening of Vical's lipid portfolio, and represents the best-performing among this new class of adjuvants. A growing library of research supports its broad utility with a variety of infectious disease and cancer applications. Vaxfectin^® has been shown in multiple animal models to significantly increase the antibody and T-cell immune responses to antigens expressed from DNA vaccines. Vaxfectin^® has achieved similar effects with protein-based vaccines for infectious diseases and with tumor-associated antigen peptides for cancer. Three Phase 1 clinical trials of Vaxfectin^®-formulated vaccines against pandemic strains of influenza extended the immunogenicity results to humans, and demonstrated a favorable safety and tolerability profile. Vical is developing Vaxfectin^®-formulated vaccines including CyMVectin™, a prophylactic DNA vaccine against cytomegalovirus (CMV), and a therapeutic DNA vaccine against herpes simplex virus type 2 (HSV-2).

About Vical

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about Vical's Vaxfectin^® adjuvant, as well as Vical's focus, licensees, and independent and partnered product candidates. Risks and uncertainties include whether Vical, Baxter or others will develop any seasonal or pandemic influenza vaccines using Vical's Vaxfectin^® adjuvant; whether Vical or others will continue development of CyMVectin™, the therapeutic HSV-2 vaccine, or any other Vaxfectin^®-formulated product candidates; whether any Vaxfectin^®-formulated product candidates will be shown to be safe and effective in clinical trials or be commercially scalable; the timing, nature and cost of clinical trials; whether Vical or others will pursue any additional applications for its Vaxfectin^® adjuvant; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

^{_______________________________}

¹ Smith L, Kistner O et al. Preclinical evaluation of Vaxfectin^®-adjuvanted vero cell-derived seasonal split and pandemic whole virus influenza vaccines. Human Vaccines & Immunotherapeutics 9:7 (July 2013); http://dx.doi.org/10.4161/hv.24209.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website: www.vical.com

Source: Vical Incorporated

Vical Announces News Release and Conference Call Schedule for First Quarter 2013 Financial Results

Thu, 02 May 2013 06:30:00 -0400

SAN DIEGO, May 2, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced that the company will report financial results for the three months ended March 31, 2013, before the opening of trading on Thursday, May 9, and conduct a conference call and webcast to discuss the financial results and provide a company update at noon Eastern Time on Thursday, May 9. The call is open on a listen-only basis to any interested parties. The company will provide details on independent and partnered development programs in the conference call and webcast.

Conference Call

To listen to the conference call, dial in approximately ten minutes before the scheduled call to (719) 325-2469 (preferred), or (888) 523-1228 (toll-free), and reference confirmation code 5720239. A replay of the call will be available for 48 hours beginning about two hours after the call. To listen to the replay, dial (719) 457-0820 (preferred) or (888) 203-1112 (toll-free) and enter replay passcode 5720239. The call also will be available live and archived through the events page at www.vical.com.

Invited analysts and institutional investors may ask questions during the conference call. Others may submit questions before the call by e-mail addressed to ir@vical.com or by fax to (858) 646-1150. Submitted questions will be screened for appropriateness and general interest. Selected questions received with sufficient notice before the call will be answered as time permits at the end of the call. For further information, contact Vical's Investor Relations department by phone at (858) 646-1127 or by e-mail at ir@vical.com.

About Vical

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated

Vical CEO to Participate in Cancer Immunotherapy Panel at BIO International Convention

Mon, 22 Apr 2013 06:30:00 -0400

CHICAGO, April 22, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) announced today that Vijay B. Samant, the company's President and Chief Executive Officer, will participate in a panel discussion on recent developments in cancer immunotherapy at the Biotechnology Industry Organization (BIO) International Convention (Chicago – April 22 - 25). The panel, "Fly Me to the Immune: Advances in Cancer Immunotherapy," is scheduled for Monday, April 22, 2013, from 3:45 p.m. to 5:00 p.m. CT.

Vical is developing Allovectin^®, an investigational immunotherapy being evaluated initially in patients with metastatic melanoma. The company's multinational, pivotal Phase 3 trial, initiated in January 2007, is evaluating Allovectin^® as first-line therapy in patients with Stage III or IV recurrent metastatic melanoma. Vical completed enrollment in February 2010 of 390 chemo-naive patients randomized on a 2:1 basis: 260 for treatment with Allovectin^® and 130 for treatment with physician's choice of either dacarbazine or temozolomide. The company is projecting completion of the Phase 3 trial in mid-2013.

About Vical

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Risks and uncertainties include whether Vical or others will continue developing Allovectin^®; whether the Allovectin^® Phase 3 trial will be completed in mid-2013, if at all; whether Allovectin^® will be approved as first-line treatment for metastatic melanoma in the United States or any other countries; whether Allovectin^® will be successfully developed and commercialized; whether any product candidates will be shown to be safe and effective in clinical trials; the timing, nature and cost of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated

Vical to Present at March Investor Conferences

Wed, 27 Feb 2013 06:30:00 -0500

SAN DIEGO, Feb. 27, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced scheduled presentations to provide an overview of the company's technologies, development programs, and outlook at two investor conferences in March:

Cowen and Company 33rd Annual Health Care Conference (Boston, March 4-6) on Wednesday, March 6, at 8:00 a.m. ET.
25th Annual ROTH Conference (Dana Point, CA, March 17-20) on Tuesday, March 19, at 4:30 p.m. PT.

About Vical

The Vical Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5768

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website: www.vical.com

Source: Vical Incorporated

Vical Reports 2012 Financial Results and Progress in Key Development Programs

Wed, 06 Feb 2013 06:30:00 -0500

SAN DIEGO, Feb. 6, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today reported financial results for the year ended December 31, 2012. Revenues for 2012 were $17.5 million, compared with revenues of $30.0 million for 2011, reflecting lower payments from Astellas Pharma Inc. under an exclusive worldwide license of TransVax™, Vical's therapeutic vaccine designed to control cytomegalovirus (CMV) reactivation in transplant recipients. In 2011, Vical received a $25.0 million upfront license payment from Astellas. In 2012, Vical received a $10.0 million milestone license payment and increased contract revenues from Astellas driven by delivery of clinical trial material for planned TransVax™ trials.

The net loss for 2012 was $22.9 million, or $0.27 per share, compared with a net loss of $7.3 million, or $0.10 per share, for 2011. The increase in net loss for 2012 was primarily a result of the lower license revenue partially offset by higher net contract revenue under the Astellas agreements.

Vical had cash and investments of approximately $86 million at year-end 2012. The net cash burn of approximately $19 million for 2012, excluding cash from financing activities, was within the projected range. The company is projecting net cash burn for the first half of 2013, excluding cash from financing activities, of between $18 million and $20 million.

The projected net cash burn includes spending for long-lead-time activities such as manufacturing, validation and others that the company believes will allow timely filing of a Biologics License Application (BLA) assuming success in its lead development program, Allovectin^® immunotherapy for patients with metastatic melanoma. The company intends to provide net cash burn guidance for the remainder of the year after the release of Phase 3 results.

Program highlights include:

Allovectin^®

In the company's Phase 3 registration trial of Allovectin^® vs. chemotherapy in patients with metastatic melanoma, the company conducted a comprehensive sweep in September 2012 of all active clinical sites to eliminate any time lag in death event reporting. The sweep confirmed that the target number of events had not been reached. It also confirmed the steady progress towards that goal.
An independent Safety Monitoring Board (SMB) for the Phase 3 trial completed its final review of comprehensive trial safety data in the third quarter and reported "no basis for any concern that there is undue risk" associated with Allovectin^®.
The company is tracking progress toward the Phase 3 secondary endpoint (overall survival) for both arms together in a blinded fashion. Independent assessment and adjudication of patient-by-patient data for the primary endpoint (response rate at 24 weeks or more after randomization) is approaching completion. Upon reaching the target number of death events, the databases for both endpoints will be unblinded simultaneously and top-line results for both endpoints are expected to be released in mid-2013.

TransVax™ CMV Vaccine

Astellas is planning to initiate a Phase 3 trial of TransVax™ for hematopoietic stem cell transplant (HSCT) recipients and to initiate a Phase 2 trial of TransVax™ for solid organ transplant (SOT) recipients in the first half of 2013.

Herpes Simplex Vaccine

The company is planning to initiate a Phase 1/2 clinical trial of its Vaxfectin^®-formulated therapeutic vaccine against herpes simplex virus type 2 (HSV-2) in the second half of 2013.
At the 15th Annual Meeting of the American Society of Gene & Cell Therapy in May 2012, Vical presented results from multiple animal studies with the company's Vaxfectin^®-formulated vaccines against HSV-2 demonstrating proof of concept.
Results from the company's completed mouse studies with the HSV-2 vaccines were published in The Journal of General Virology.
Results from the company's completed guinea pig studies with the HSV-2 vaccines were published in Vaccine.

Vaxfectin^® Adjuvant

During the first quarter of 2012, the Naval Medical Research Center (NMRC) initiated a Phase 1 clinical trial of a tetravalent dengue DNA vaccine formulated with Vaxfectin^®. Vical manufactured the vaccine and the adjuvant for both the preclinical and clinical studies, and is providing regulatory and clinical expertise to NMRC for the dengue program.
Researchers at Ehime University in Japan and their collaborators developed a Vaxfectin^®-formulated DNA vaccine candidate with the potential to prevent transmission of malaria and published encouraging initial results in Vaccine. Vical provided the DNA vaccine plasmid backbone and the adjuvant used in the research.
In September 2012, Vical entered into a worldwide, nonexclusive license with Bristol-Myers Squibb Company of Vical's patented platform DNA immunization technology and its Vaxfectin^® adjuvant for use in the production of antibodies.
In December 2012, Vical entered into a worldwide, nonexclusive license of the Vaxfectin^® adjuvant to Cyvax, Inc., a privately held vaccine development company, for use in malaria vaccines.

Conference Call

Vical will conduct a conference call and webcast today, February 6, at noon Eastern Time, to discuss with invited analysts and institutional investors the company's financial results and program updates. The call and webcast are open on a listen-only basis to any interested parties. To listen to the conference call, dial in approximately ten minutes before the scheduled call to (913) 312-0696 (preferred), or (888) 282-4056 (toll-free), and reference confirmation code 4549145. A replay of the call will be available for 48 hours beginning about two hours after the call. To listen to the replay, dial (719) 457-0820 (preferred) or (888) 203-1112 (toll-free) and enter replay passcode 4549145. The call also will be available live and archived through the events page at www.vical.com. For further information, contact Vical's Investor Relations department by phone at (858) 646-1127 or by e-mail at ir@vical.com.

About Vical

The Vical Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5768

Forward-Looking Statements

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include net cash burn guidance as well as statements about anticipated developments and timelines in the Allovectin^®, TransVax™ and HSV-2 vaccine programs, the Vaxfectin^® adjuvant, and other independent and collaborative programs. Risks and uncertainties include whether Vical will achieve levels of revenues and control expenses to meet its financial projections; whether Vical or others will continue development of Allovectin^®, TransVax™, HSV-2 vaccines, Vaxfectin^® adjuvant, or any other independent or collaborative programs; whether Vical will release top-line data from the company's Phase 3 trial of Allovectin^® in mid-2013, if at all; whether spending for long-lead-time activities will allow timely filing of a BLA for Allovectin^®; whether the trial will achieve all, if any, of the defined endpoints; whether Astellas will initiate a Phase 3 trial of TransVax™ for HSCT patients and/or a Phase 2 trial of TransVax™ for SOT recipients in the first half of 2013, if at all; whether Vical will initiate a Phase 1/2 clinical trial of its therapeutic HSV-2 vaccine in the second half of 2013, if at all; whether any product candidates will be shown to be safe and efficacious in clinical trials; the timing of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

VICAL INCORPORATED
Selected Condensed Financial Information (Unaudited)

Statements of Operations	Three Months Ended Dec. 31,		Twelve Months Ended Dec. 31,
(in thousands, except per share amounts)	2012	2011	2012	2011
Revenues:
Contract and grant revenue	$ 1,909	$ 1,616	$ 6,176	$ 4,223
License and royalty revenue	410	316	11,343	25,795
Total revenues	2,319	1,932	17,519	30,018
Operating expenses:
Research and development	3,439	3,971	17,340	17,975
Manufacturing and production	3,797	2,570	13,055	10,267
General and administrative	2,659	2,437	10,557	9,598
Total operating expenses	9,895	8,978	40,952	37,840
Loss from operations	(7,576)	(7,046)	(23,433)	(7,822)
Net investment and other income	27	432	534	539
Net loss	$ (7,549)	$ (6,614)	$ (22,899)	$ (7,283)
Basic and diluted net loss per share	$ (0.09)	$ (0.09)	$ (0.27)	$ (0.10)
Shares used to calculate basic and diluted net loss per share	86,504	72,126	85,966	72,031

Balance Sheets (in thousands)			December 31, 2012	December 31, 2011
Assets:
Cash, cash equivalents, and marketable securities, including restricted			$ 83,857	$ 50,427
Other current assets			2,152	3,130
Total current assets			86,009	53,557
Long-term investments			2,225	5,928
Property and equipment, net			5,284	6,226
Other assets			3,004	3,062
Total assets			$ 96,522	$ 68,773

Liabilities and stockholders' equity:
Current liabilities			$ 5,779	$ 6,461
Long-term liabilities			1,657	1,964
Stockholders' equity			89,086	60,348
Total liabilities and stockholders' equity			$ 96,522	$ 68,773

CONTACT: Alan R. Engbring
         Executive Director, Investor Relations

         Jill M. Broadfoot
         Senior Vice President and Chief Financial Officer

         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated

Vical to Present at February Investor Conferences

Tue, 05 Feb 2013 06:30:00 -0500

SAN DIEGO, Feb. 5, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced scheduled presentations to provide an overview of the company's technologies, development programs, and outlook at three investor conferences in February:

Leerink Swann Global Healthcare Conference 2013 (New York, February 13-14) on Thursday, February 14, at 2:30 p.m. ET.
Citi 2013 Global Healthcare Conference (New York, February 25-27) as a participant on a melanoma/immunotherapy panel on Wednesday, February 27, at 9:35 a.m. ET.
2013 RBC Capital Markets' Healthcare Conference (New York, February 26-27) on Tuesday, February 26, at 10:30 a.m. ET.

A webcast of the company's presentation at the Leerink Swann Conference will be available live and archived through the Events & Presentations page in the Investors section of the Vical website at www.vical.com.

About Vical

The Vical Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5768

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website: www.vical.com

Source: Vical Incorporated

Vical Announces Publication of Herpes Simplex Vaccine Guinea Pig Study Data

Mon, 04 Feb 2013 06:30:00 -0500

SAN DIEGO, Feb. 4, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced the publication of a new article¹ in the journal Vaccine detailing results from the company's completed guinea pig studies with the company's Vaxfectin^®-formulated plasmid DNA (pDNA) vaccines against herpes simplex virus type 2 (HSV-2). These results, along with previously published results from mouse studies, support the company's decision to advance toward clinical testing, which is expected to begin in the second half of 2013.

HSV-2 is a sexually transmitted virus which is the leading cause of genital herpes. Approximately one out of every six individuals worldwide is infected by HSV-2 before age 50. HSV-2 infections are persistent and can result in debilitating genital lesions, as well as periodic virus shedding placing sexual partners at risk. HSV-2 infection also significantly increases the risk of acquiring HIV-1. There is no approved vaccine for HSV-2.

About Vical

The Vical Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5768

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the potential uses and benefits of Vical's vaccine technologies and their potential application in vaccines against HSV-2, as well as Vical's focus, collaborative partners, and product candidates. Risks and uncertainties include whether Vical's technology will be successfully applied; whether Vical or others will advance the HSV-2 vaccine candidate into human clinical testing in the second half of 2013, if at all; whether preclinical results will be predictive of results in human clinical testing; whether the HSV-2 vaccine or any product candidates will be shown to be safe and effective in clinical trials; the timing, nature and cost of clinical trials; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; whether Vical or its collaborative partners will succeed in marketing any product candidates; and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

¹ Veselenak RL, et al. A Vaxfectin^®-adjuvanted HSV-2 plasmid DNA vaccine is effective for prophylactic and therapeutic use in the guinea pig model of genital herpes. Vaccine 30 (2012), 7046-7051. DOI:10.1016/j.vaccine.2012.09.057.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated

Vical Announces News Release and Conference Call Schedule for 2012 Financial Results

Wed, 30 Jan 2013 06:30:00 -0500

SAN DIEGO, Jan. 30, 2013 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today announced that the company will report financial results for the three months and twelve months ended December 31, 2012, before the opening of trading on Wednesday, February 6, and conduct a conference call and webcast to discuss the financial results and provide a company update at noon Eastern Time on Wednesday, February 6. The call is open on a listen-only basis to any interested parties. The company will provide details on independent and partnered development programs in the conference call and webcast.

Conference Call

To listen to the conference call, dial in approximately ten minutes before the scheduled call to (913) 312-0696 (preferred), or (888) 282-4056 (toll-free), and reference confirmation code 4549145. A replay of the call will be available for 48 hours beginning about two hours after the call. To listen to the replay, dial (719) 457-0820 (preferred) or (888) 203-1112 (toll-free) and enter replay passcode 4549145. The call also will be available live and archived through the events page at www.vical.com.

About Vical

The Vical Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5768

This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include statements about the company's focus, collaborative partners, product candidates, and developmental status. Risks and uncertainties include whether any product candidates will be shown to be safe and efficacious in clinical trials, the timing of clinical trials, whether Vical or its collaborative partners will seek or gain approval to market any product candidates, the dependence of the company on its collaborative partners, and additional risks set forth in the company's filings with the Securities and Exchange Commission. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent or obligation to update these forward-looking statements.

CONTACT: Alan R. Engbring
         (858) 646-1127
         Website:  www.vical.com

Source: Vical Incorporated