Immune Design
Nov 9, 2016

Immune Design Reports Third Quarter 2016 Financial Results and Provides Corporate Update

Company conference call at 1:30 p.m. PT today

SEATTLE and SOUTH SAN FRANCISCO, Calif., Nov. 09, 2016 (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, 2016.

"During the third quarter, we continued enrollment of our clinical programs, recruited senior leadership with late-stage oncology development expertise, and advanced the range of future potential products from our differentiated ZVex platform," said Carlos Paya, M.D., Ph.D., President and Chief Executive Officer of Immune Design. "Backed by both new and existing investors who participated in our recent financing, we are focused on delivering meaningful results in both of our approaches in 2017."

Recent Highlights

Product Development: Continued progress on all programs from ZVex® and GLAASTM platforms

Antigen Specific: CMB305 Program

Antigen Agnostic: G100 Program

Expansion of the versatility of the ZVex platform and further support for ongoing product development: upcoming presentations at SITC and ASH

Expansion of the Senior Leadership Team

Sergey Yurasov, M.D., Ph.D. Joins Executive Team: Addition of Late-Stage Oncology Development Expertise

Acquisition of Intellectual Property Rights and Settlement of Litigation and Patent Challenge

Completion of Follow-On Financing

Financial Results

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 2016 financial results and provide a corporate update.

The live call may be accessed by dialing 844-266-9538 for domestic callers and 216-562-0391 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: 10923483.

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, ZVex® and GLAASTM. Both ZVex and GLAAS also have potential applications in infectious disease and allergy as demonstrated by ongoing pharmaceutical collaborations.  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, timing, scope and results 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 Corp.
Selected Balance Sheet Data 
(In Thousands)
    
 September 30,
2016
 December 31,
2015
 (unaudited)   
Cash and cash equivalents$70,434  $112,921 
Short-term investments 42,037   - 
Total assets 125,659   116,145 
Total current liabilities 17,090   7,111 
Total stockholders' equity 107,259   108,993 
    

 

Condensed Consolidated Statements of Operations and Comprehensive Loss Data 
(In Thousands Except Per Share Amounts) 
         
 Three Months Ended Nine Months Ended 
 September 30, September 30, 
  2016   2015   2016   2015  
 (unaudited) 
Revenues:        
Licensing revenue$7,000  $3,500  $7,000  $3,500  
Product sales 426   824   1,166   932  
Collaborative revenue 780   329   3,036   3,939  
Total revenues 8,206   4,653   11,202   8,371  
Operating expenses:        
Cost of product sales 72   298   347   421  
Research and development 11,173   8,263   33,129   24,209  
General and administrative 9,554   3,506   17,416   11,086  
Total operating expenses 20,799   12,067   50,892   35,716  
Loss from operations (12,593)  (7,414)  (39,690)  (27,345) 
Interest and other income 150   7   606   15  
Net loss$(12,443) $(7,407) $(39,084) $(27,330) 
Other comprehensive income (loss):        
Unrealized (loss) gain on investments (23)  -   7   -  
Comprehensive loss:$(12,466) $(7,407) $(39,077) $(27,330) 
Basic and diluted net loss per share$(0.60) $(0.37) $(1.92) $(1.45) 
Weighted-average shares used to compute basic and diluted net loss per share 20,803,776   20,131,260   20,372,376   18,822,517  
         

Media Contact
Julie Rathbun
Rathbun Communications
julie@rathbuncomm.com                   
206-769-9219

Investor Contact
Shari Annes
Annes Associates
Shari.Annes@immunedesign.com
650-888-0902