Vical Results

- Vical's president and chief executive, Alain Schreiber, said: "we are pleased with Vical's 1995 financial results. We gener-ated more option and licensing revenue from our naked DNA vaccine technology than in 1994, and we significantly strengthened our working capital position through a successfully completed equity offering." Dr Schreiber noted that the firm was able to decrease losses while advancing the clinical development of its gene-based product candidates Allovectin -7 and Leuvectin, which are intended for cancer treatment.

The net loss in 1995 decreased from $4.3 million to $4 million, and the loss per share was $0.29 in 1995, compared with $0.34 a year earlier. Revenues were $6.3 million, up 14.5%. In the fourth quarter of 1995 revenues were $676,000, an increase of 13% on the like, year-earlier period. The net loss was $1.4 million, down from $1.9 million. The loss per share for the quarter amounted to $0.09, compared with $0.15 in the 1994 fourth quarter.