UPDATE 1-Intercell Q1 loss widens, but still sees FY profit
* Q1 Net loss 8.2 mln eur vs Reuters poll 6.5 mln eur loss
* Strikes exclusive JE vaccine deal with U.S. military
* Reiterates sees FY net profit on JE vaccine sales.
(Adds detail, background)
VIENNA, May 10 (Reuters) - Austrian biotech Intercell (ICEL.VI) said on Monday its first quarter loss widened by 78 percent as it spent more on research but reiterated it sees a full-year profit as revenues from its first vaccine start.
Intercell's net loss was 8.2 million euros ($11.2 million) in the March quarter, missing analyst estimates of a 6.5 million euro loss. Sales fell 37 percent to 5.4 million euros, also missing analyst estimates. [ID:nL71021300]
The group said previously it expected a profit this year despite higher research spending. It had an operating loss but a net profit in 2008 due to a major tax credit.
Intercell late on Friday said it had struck the expected exclusive deal with the U.S. military to provide its vaccine against Japanese Encephalitis -- distributed with Swiss pharma giant Novartis (NOVN.VX) -- to U.S. troops. [ID:nEuEH586a]
This deal is expected to raise around 30 million euros in annual revenue for Intercell, analysts estimate. The vaccine has a market potential of $250 million to $350 million.
The group also said on Monday it expected the phase III clinical study of its vaccine patch against travellers' diarrhea to start in the second quarter. The trial was postponed because of the Mexican flu outbreak. ($1=.7349 Euro) (Reporting by Boris Groendahl; Editing by Hans Peters)
