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Vical Inc. researches and develops biopharmaceutical products based on its deoxyribonucleic acid, better known as DNA, delivery technologies. Vical has gained access to enhancing technologies through licensing and collaborative agreements. Vical, together with its licensees and collaborators, is developing a number of DNA-based vaccines and therapeutics for the prevention or treatment of infectious diseases, cancer and cardiovascular diseases. Vical’s independent development focus is on the cancer immunotherapeutics Allovectin-7 and IL-2/EP, as well as a plasmid vaccine for cytomegalovirus. Its areas of research encompass vaccines for use in high-risk populations for infectious disease targets; vaccines for general pediatric or adult populations for infectious disease applications, and cancer vaccines or immunotherapies, which complement its existing programs and core expertise.


Total number of shares outstanding as of Aug. 5 23,500,000

Price of each share of common stock on Aug. 5 $5.31

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Aggregate market value as of Aug. 5 $124,785,000

Performance Record

For year ended Dec. 31, in thousands, except per-share data.

2004 2003 2002

Total revenues $14,545 $8,078 $7,007

Net income (loss) ($23,733) ($24,450) ($27,932)

Net income (loss) per share ($1.05) ($1.22) ($1.39)

Total assets $101,226 $110,707 $129,426


Robert H. Campbell, 67, director since 2003.

R. Gordon Douglas, 70, chairman since 1999.

M. Blake Ingle, 62, director since 1996.

Gary A. Lyons, 53, director since 1997.

Robert C. Merton, 60, director since 2002.

Vijay B. Samant, 52, director since 2000.

Executive Compensation

Officer 2004 Cash Compensation

Vijay B. Samant, chief executive officer and president $580,000

David C. Kaslow, chief scientific officer $375,000

Jill M. Church, vice president, chief financial officer, secretary $92,788

Martha J. Demski, former vice president, CFO, treasurer, secretary $168,357

Alan Dow, former vice president, general counsel $145,026

Significant Stock Ownership

Number of shares Percent

March 1

Merrill Lynch & Co., Inc. 2,184,273 9.29

Federated Investors, Inc. 1,973,000 8.39

James R. Singer 1,800,000 7.66

Intrinsic Value Asset Management Inc. 1,263,253 5.37

Dimensional Fund Advisors Inc. 1,204,151 5.12

Directors and officers as a group (8 people) 1,052,481 4.37

Other Information

Headquarters: 10390 Pacific Center Court, San Diego, CA 92121; (858) 646-1100; fax (619) 453-5885.

Web site: www.vical.com.

Auditors: Deloitte & Touche LLP.

Employees: 169.

Industry: Biotechnology.

Information was compiled from the company’s annual and proxy reports.


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