Immune Design
Nov 12, 2015

Immune Design Reports Third Quarter 2015 Financial Results

Company to Hold Conference Call at 1:30 pm Pacific Today

SEATTLE and SOUTH SAN FRANCISCO, Calif., Nov. 12, 2015 (GLOBE NEWSWIRE) -- Immune Design (Nasdaq: IMDZ), a clinical-stage immunotherapy company focused on oncology, today reported financial results and a corporate update for the third quarter ended September 30, 2015, which includes advancement of its immuno-oncology programs and a cash position of $120.5 million.

Corporate Update and Recent Highlights

Financial Results and Guidance

Third Quarter

Year-to-Date

Conference Call Information

Immune Design will host a conference call and live audio webcast this afternoon at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time to discuss the third quarter 2015 financial results and provide a corporate update.

The live call may be accessed by dialing 844-831-3023 for domestic callers and 920-663-6275 for international callers. A live webcast of the call will be available online from the investor relations section of the company website at http://ir.immunedesign.com/events.cfm and will be archived there for 90 days. A telephone replay of the call will be available for five days by dialing 855-859-2056 for domestic callers or 404-537-3406 for international callers and entering the conference code: 70749704.

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.

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 generate and/or expand antigen-specific cytotoxic T cells, while also enhancing other immune effectors, to fight cancer and other chronic diseases. CMB305 and G100, the two-pronged focus of Immune Design's ongoing 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 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 
(In Thousands)
     
  September 30, December 31,
  2015 2014
  (unaudited)   
Cash and cash equivalents   $ 120,490  $ 75,354
Total assets  125,897  78,383
Total current liabilities  6,679  11,947
Total stockholders' equity  119,169  66,346
     
     
Statements of Operation Data (unaudited)
(In Thousands Except Share and Per Share Amounts)
         
  Three Months Ended Nine Months Ended
  September 30 September 30
  2015 2014 2015 2014
         
Revenues:        
Licensing revenue  $ 3,500  $ 3,500  $ 3,500  $ 4,500
Product sales  824  44  932  133
Other, net  329  --  3,939  --
Total revenues  4,653  3,544  8,371  4,633
Operating expenses:        
Cost of product sales  298  31  421  63
Research and development  8,263  5,988  24,209  13,949
General and administrative  3,506  4,082  11,086  7,378
Total operating expenses  12,067  10,101  35,716  21,390
Loss from operations  (7,414)  (6,557)  (27,345)  (16,757)
Interest and other income  7  2  15  3
Change in fair value of convertible preferred stock warrant liability  --  (127)  --  (4,277)
Net loss attributable to common stockholders  $ (7,407)  $ (6,682)  $ (27,330)  $ (21,031)
Basic and diluted net loss per share attributable to common stockholders  $ (0.37)  $ (0.55)  $ (1.45)  $ (4.85)
Weighted-average shares used to compute basic and diluted net loss per share attributable to common stockholders  20,131,260  12,128,810  18,822,517  4,332,480
 
CONTACT: Media Contact

         Julie Rathbun

         Rathbun Communications

         julie@rathbuncomm.com

         206-769-9219



         Investor Contact

         Shari Annes

         Annes Associates

         sannes@annesassociates.com

         650-888-0902

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Source: Immune Design

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