Vical reports second-quarter revenues up to $7.3 million

By Lisa Kerner

Charlotte, N.C., Aug. 1 - Vical Inc. said revenues for the second quarter of 2006 rose to $7.3 million, up from $4.8 million for the same period of 2005.

The net loss for the quarter was $3.2 million, or $0.11 per share, improved from $5.0 million, or $0.21 per share, for the prior year period.

The company reported revenues for the six months ended June 30 of $12.8 million, up from the prior year period's reported $7.5 million.

For the six-month period, Vical reported a net loss of $7.7 million, or $0.27 per share, compared to a loss of $12.5 million, or $0.53 per share, for the first half of 2005.

Company highlights for the second quarter include forming a collaborative agreement with AnGes MG, Inc. for Allovectin-7 cancer immunotherapeutic and accelerated access to funding from The National Institute of Allergy and Infectious Diseases for flu DNA vaccine development.

San Diego-based Vical researches and develops biopharmaceutical products based on its patented DNA delivery technologies.

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