January 30, 2018 / 9:45 PM / 4 months ago

BRIEF-Vical Announces Restructuring To Focus Resources On Hsv-2 And Antifungal Clinical Programs

Jan 30 (Reuters) - Vical Inc:

* VICAL ANNOUNCES RESTRUCTURING TO FOCUS RESOURCES ON HSV-2 AND ANTIFUNGAL CLINICAL PROGRAMS

* VICAL INC - ‍RESTRUCTURING INCLUDES A REDUCTION IN STAFF OF APPROXIMATELY 54%, FROM 74 TO 34 EMPLOYEES​

* VICAL INC - ‍COMPANY IS TERMINATING ALL ACTIVITIES RELATED TO ASP0113 PROGRAM LICENSED TO ASTELLAS PHARMA​

* VICAL INC - ‍BELIEVES ITS CURRENTLY AVAILABLE CASH AND INVESTMENTS WILL BE ADEQUATE TO FUND OPERATIONS AT LEAST THROUGH 2019​

* VICAL INC - ‍RESTRUCTURING TO CONSERVE CAPITAL AND TO FOCUS EFFORTS ON VL-2397 AND ON COMPLETING PHASE 2 HSV-2 CLINICAL TRIAL​

* VICAL INC - ‍EXPECTS TO REPORT THAT IT ENDED 2017 WITH CASH AND INVESTMENTS OF APPROXIMATELY $60 TO $65 MILLION​

* VICAL INC - ‍CASH BURN FOR 2017 IS EXPECTED TO BE AT LOW END OF VICAL’S GUIDANCE OF $8 TO $11 MILLION​

* VICAL INC - ‍EXPECTS TO INCUR PERSONNEL-RELATED RESTRUCTURING CHARGES OF APPROXIMATELY $1.1 MILLION IN Q1 OF 2018​ Source text for Eikon: Further company coverage:

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