Intercell Drops After Warning Sales to Fall Short: Vienna Mover

Oct. 16 (Bloomberg) -- Intercell AG, an Austrian vaccine maker, fell after the company warned its only marketable product, a vaccine against Japanese encephalitis, hadn’t sold as much as anticipated, leading to a wider loss this year.

Intercell dropped as much as 3.6 percent to 1.852 euros, the lowest level since Oct. 5, and were down 3.2 percent at 11:30 a.m. The stock, down 89 percent in the last two years due to clinical-trial setbacks and disappointing sales of its Ixiaro vaccine, surpassed its 3-month average trading volume on Vienna’s stock exchange.

“This is likely to dampen the market, as it will be the first time Ixiaro’s sales have declined,” Natixis analyst Beatrice Muzard said in a note to clients today. “Our forecast of a €19.5m loss now looks to reflect an optimistic scenario.”

Intercell sees sales of its Ixiaro vaccine falling up to a fifth, to about 28.5 million euros, the company said in a statement. That decline means its annual net loss will be about 24 million euros compared with a previously forecast loss up to 20 million euros.

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