Immune Design
Nov 12, 2014

Immune Design Reports Third Quarter 2014 Financial Results and Provides Corporate Update

SEATTLE and SOUTH SAN FRANCISCO, Calif., Nov. 12, 2014 (GLOBE NEWSWIRE) -- Immune Design Corp. (Nasdaq:IMDZ), a clinical-stage immunotherapy company, today reported financial results for the third quarter ended September 30, 2014.

"Immune Design had a very successful initial quarter as a public company, with progress on all fronts and execution according to plan," said Carlos V. Paya, M.D., Ph.D., president and chief executive officer of Immune Design.

Third Quarter 2014 Highlights and Corporate Update

Immuno-oncology Clinical Trials

Non-oncology Strategy Update

Financing

Third Quarter 2014 Financial Highlights and 2014 Guidance

Conference Call Information

Immune Design will host a conference call and live audio webcast this morning at 5:30 a.m. PST/8:30 a.m. EST to provide a corporate update and discuss its financial results. To participate in the conference call, please dial (844) 831-3023 (domestic) or (920) 663-6275 (international) and refer to conference ID 31434939. To access the live webcast, please visit the "Events & Presentations" page under the "Investors" tab on Immune Design's website at www.immunedesign.com.

An archived copy of the webcast will be available on Immune Design's website beginning approximately two hours after the conference call. Immune Design will maintain an archived replay of the webcast on its website for at least 30 days after the conference call.

Future Conference Calls

Immune Design intends to hold semi-annual calls beginning in March 2015 and following the end of the second quarter after the availability of year-end and second quarter financials, respectively.

Immune Design intends to and in the future may use, its Investor Relations website (http://ir.immunedesign.com/index.cfm) as a means of disclosing material non-public information and for complying with its disclosure obligations under Regulation FD. For more information, please visit (http://ir.immunedesign.com/index.cfm).

About Immune Design

Immune Design is a clinical-stage immunotherapy company employing next-generation in vivo approaches to enable the body's immune system to fight disease. The company's technologies are engineered to activate the immune system's natural ability to create and/or expand antigen-specific cytotoxic T cells, while enhancing other immune effectors, to fight cancer and other chronic diseases. Immune Design's three on-going immuno-oncology clinical programs are the product of its two synergistic discovery platforms: ZVexTM and GLAASTM. Immune Design has offices in Seattle and South San Francisco. For more information, visit www.immunedesign.com.

Cautionary Note on Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "expect," "plan," "anticipate," "estimate," "intend" and similar expressions (as well as other words or expressions referencing future events, conditions or circumstances) are intended to identify forward-looking statements. These forward-looking statements are based on Immune Design's expectations and assumptions as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Actual results may differ materially from these forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements about the timing of initiation, progress and scope of clinical trials for Immune Design's product candidates and the reporting of clinical data regarding Immune Design's product candidates. Many factors may cause differences between current expectations and actual results including unexpected safety or efficacy data observed during preclinical or clinical studies, clinical trial site activation or enrolment rates that are lower than expected, changes in expected or existing competition, changes in the regulatory environment, failure of Immune Design's collaborators to support or advance collaborations or product candidates and unexpected litigation or other disputes. Other factors that may cause Immune Design's actual results to differ from those expressed or implied in the forward-looking statements in this press release are discussed in Immune Design's filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections contained therein. Except as required by law, Immune Design assumes no obligation to update any forward-looking statements contained herein to reflect any change in expectations, even as new information becomes available.

Immune Design
Selected Balance Sheet Data (unaudited)
(In Thousands)
     
  September 30, December 31,
  2014 2013
     
Cash and cash equivalents   $ 83,388  $ 30,387
Total assets  85,016  30,965
Total Current liabilities  5,955  1,975
Convertible preferred stock  --   81,394
Total stockholders' equity (deficit)  78,996  (55,834)
     
Statements of Operation Data
(In Thousands Except Per Share Amounts)
 
  Three Months Ended Nine Months Ended
   September 30,  September 30,
  2014 2013 2014 2013
  (unaudited)
Revenues:        
Licensing revenue  $ 3,500  $ 13  $ 4,500  $ 717
Product sales  44  116  133  858
Total revenues  3,544  129  4,633  1,575
Operating expenses:        
Cost of product sales  31  70  63  532
Research and development  5,988  2,920  13,949  8,819
General and administrative  4,082  1,132  7,378  2,827
Total operating expenses  10,101  4,122  21,390  12,178
Loss from operations  (6,557)  (3,993)  (16,757)  (10,603)
Interest and other income (expense)  2  (1)  3  34
Change in fair value of convertible preferred stock warrant liability  (127)  —   (4,277)  — 
Net loss attributable to common stockholders  $ (6,682)  $ (3,994)  $ (21,031)  $ (10,569)
Basic and diluted net loss per share attributable to common stockholders  $ (0.55)  $ (10.81)  $ (4.85)  $ (28.81)
Weighted-average shares used to compute basic and diluted net loss per share attributable to common stockholders  12,128,810  369,460  4,332,480  366,854
CONTACT: Media Contact

         Julie Rathbun

         Rathbun Communications

         julie@rathbuncomm.com

         206-769-9219



         Investor Contact

         Robert H. Uhl

         Westwicke Partners

         robert.uhl@westwicke.com

         858-356-5932

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Source: Immune Design

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