Vical Reports Second Quarter 2007 Financial Results, Allowance of Pandemic Influenza IND and Other Advances in Product Developmen...(product candidate Allovectin-7(R) theHIV...),Health

Date:8/19/2007

product candidate, Allovectin-7(R), the HIV vaccine candidate, the RapidResponse(TM) DNA vaccine platform, the company's Vaxfectin(TM) adjuvant, or any other product candidates being developed by Vical, its collaborators or licensees will be shown to be safe and effective in clinical trials; the timing, nature and cost of clinical trials; whether the company will achieve levels of revenues and control expenses to meet projected financial performance; 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 Six Months Ended

(in thousands, except per June 30, June 30,

share amounts) 2007 2006 2007 2006

Revenues:

Contract and grant revenue $2,980 $7,100 $3,830 $12,679

License and royalty revenue 131 156 536 192

Total revenues 3,111 7,256 4,366 12,871

Operating expenses:

Research and development 5,859 4,171 11,734 8,815

Manufacturing and

production 4,216 4,499 8,163 8,051

General and administrative 2,340 2,406 4,633 4,848

Total operating expenses 12,415 11,076 24,530 21,714

Loss from operations (9,304) (3,820) (20,164) (8,843)

Net investment income 1,107 576 2,370 1,126

Net loss $(8,197) $(3,244) $(17,794) $(7,717)

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SOURCE Vical Copyright©2007 PR Newswire.

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