UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
_____________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event Reported):  August 7, 2018  
VICAL INCORPORATED
(Exact Name of Registrant as Specified in Charter)

DELAWARE	000-21088	93-0948554	
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)	

10390 Pacific Center Court, San Diego, California 92121-4340 	
(Address of Principal Executive Offices) (Zip Code)	
(858) 646-1100
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
	
 	[   ]	  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 	[   ]	  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 	[   ]	  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 	[   ]	  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company [   ]
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [   ]

Item 2.02. Results of Operations and Financial Condition.

On August 7, 2018, Vical Incorporated issued a press release announcing, among other things, its unaudited financial results for the three months ended June 30, 2018.  A copy of the press release is attached as Exhibit 99.1 to this Current Report.

The information in this Item 2.02, and Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.
99.1      Press release issued by Vical Incorporated on August 7, 2018.

SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 	VICAL INCORPORATED	

Date: August 7, 2018	By: 	/s/ ANTHONY A. RAMOS        	
 	 	Anthony A. Ramos	
 	 	Chief Financial Officer	

INDEX TO EXHIBITS

Exhibit No.	 	Description	
 	 	 	
99.1	 	Press release issued by Vical Incorporated on August 7, 2018.	

EXHIBIT 99.1
Vical Reports Second Quarter 2018 Financial and Operational Results

SAN DIEGO, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Vical Incorporated (Nasdaq:VICL) today reported financial results for the three months ended June 30, 2018. Net loss for the second quarter of 2018 was $4.9 million, or $0.22 per share, compared with a net loss of $3.3 million, or $0.30 per share, for the second quarter of 2017. Revenues for the second quarter of 2018 were $0.7 million, compared with revenues of $3.4 million for the second quarter of 2017, reflecting a decline in revenues from Astellas Pharma Inc. for services performed under ASP0113 collaborative agreements.
Vical recently announced plans to explore a range of strategic options to enhance shareholder value. The company retained MTS Health Partners, L.P. to assist in the strategic review process. There is no set timetable for the review process and there can be no assurance that the process will result in a transaction.
Vical had cash and investments of $54.3 million at June 30, 2018. The Company’s cash burn for the second quarter of 2018 was $4.0 million, which was consistent with the Company’s full year 2018 guidance of between $20 million and $24 million.  The Company anticipates ending 2018 with a minimum of $40 million, which, in the absence of a strategic transaction, Vical believes to be sufficient to fund operations through the announcement of top-line data from its Phase 2 clinical trial of VL-2397, expected in 2020.
Program updates include:
VL-2397 Antifungal Candidate
·	The multinational Phase 2 registration trial comparing VL‑2397 to standard first-line treatment for invasive aspergillosis in immunocompromised adults with acute leukemia or recipients of an allogeneic hematopoietic cell transplant is ongoing (ClinicalTrials.gov Identifier: NCT03327727). Vical expects to conduct the trial in approximately 40 major cancer and transplantation centers in North America, Europe and Asia. The FDA has advised that VL‑2397 would be eligible for a Limited Use Indication (LUI) approval for the treatment of invasive aspergillosis for patients with limited treatment options. The FDA has also granted Vical Qualified Infectious Disease Product (QIDP), Orphan Drug and Fast Track designations for VL‑2397 for the treatment of invasive aspergillosis. VL-2397 has a novel mechanism of antifungal action and could be the first therapeutic in a new class of antifungals.
VR-CHB01 Hepatitis B Virus (HBV) Therapeutic Candidate
·	The Company is pursuing preclinical development of a novel treatment for chronic HBV infection based on its DNA and lipid-delivery technologies. The initial aim of this program will be to demonstrate proof of concept for inhibiting HBV infection in an in vivo model. The Company expects to complete the initial stage of preclinical development in the fourth quarter of 2018.
About Vical
Vical develops biopharmaceutical products for the prevention and treatment of chronic or life-threatening infectious diseases, including antiviral and antifungal candidates. Additional information on Vical is available at www.vical.com.
Forward-Looking Statements
This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements include net cash use guidance, sufficiency of current cash resources to fund future operations, anticipated developments in independent and collaborative programs, including the plans, timing of initiation, enrollment and announcement of data for clinical trials, timing for potential regulatory submissions, potential benefits of Vical’s product candidates, whether Vical or others will continue development of VR-CHB01, VL-2397 or any other independent or collaborative programs, as well as Vical’s plans to explore strategic alternatives and the potential benefits of a strategic transaction. Risks and uncertainties include whether Vical or others will continue development of VL-2397, VR-CHB01 or any other independent or collaborative programs; the risk that the FDA does not grant LUI approval of VL-2397 following the results of Vical’s Phase 2 clinical trial; whether Vical will achieve levels of revenues and control expenses to meet its financial projections; whether Vical or its collaboration partners will be able to obtain regulatory approvals, allowances or guidance necessary to commercialize any product or to proceed with proposed clinical trials or implement anticipated clinical trial designs; whether on-going or planned clinical trials or regulatory submissions will be initiated or completed on the timelines Vical currently expects; whether any product candidates will be shown to be safe and efficacious in clinical trials; whether Vical is able to continue its collaborative arrangements or enter into new ones; whether Vical will have access to sufficient capital to fund its planned development activities; whether Vical or its collaborative partners will seek or gain approval to market any product candidates; Vical’s ability to identify potential strategic transactions and to complete any transaction that it pursues; whether Vical will be able to realize the expected benefits of any transaction; and additional risks set forth in the Company's filings with the Securities and Exchange Commission. These forward-looking statements represent the Company's judgment as of the date of this release. The Company disclaims, however, any intent or obligation to update these forward-looking statements.

  VICAL INCORPORATED	 	
Selected Condensed Financial Information (Unaudited)	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
 	Three Months Ended	 	Six Months Ended	 	
Statements of Operations	June 30,	 	June 30,	 	
(in thousands, except per share amounts)	2018	 	 	2017	 	 	2018	 	 	2017	 	 	
Revenues:	 	 	 	 	 	 	 	 	 	 	 	 	
Contract revenue	$	725	 	 	$	3,369	 	 	$	1,431	 	 	$	6,270	 	 	
License and royalty revenue	 	10	 	 	 	52	 	 	 	20	 	 	 	356	 	 	
Total revenues	 	735	 	 	 	3,421	 	 	 	1,451	 	 	 	6,626	 	 	
Operating expenses:	 	 	 	 	 	 	 	 	 	 	 	 	
Research and development	 	3,602	 	 	 	3,639	 	 	 	7,266	 	 	 	6,939	 	 	
Manufacturing and production	 	-	 	 	 	1,602	 	 	 	1,436	 	 	 	2,911	 	 	
General and administrative	 	2,261	 	 	 	1,591	 	 	 	4,378	 	 	 	3,100	 	 	
Total operating expenses	 	5,863	 	 	 	6,832	 	 	 	13,080	 	 	 	12,950	 	 	
Loss from operations	 	(5,128	)	 	 	(3,411	)	 	 	(11,629	)	 	 	(6,324	)	 	
Net investment and other income	 	260	 	 	 	91	 	 	 	491	 	 	 	180	 	 	
Net loss	$	(4,868	)	 	$	(3,320	)	 	$	(11,138	)	 	$	(6,144	)	 	
Basic and diluted net loss per share	$	(0.22	)	 	$	(0.30	)	 	$	(0.51	)	 	$	(0.55	)	 	
Weighted average shares used in computing	 	 	 	 	 	 	 	 	 	 	 	 	
basic and diluted net loss per share	21,837	 	 	11,139	 	 	21,834	 	 	11,121	 	 	

Balance Sheets	 	 	 	 	 	 	June 30,	 	December 31,	 	
(in thousands)	 	 	 	 	 	 	2018	 	2017	 	
Assets:	 	 	 	 	 	 	 	 	 	 	 	 	
Cash, cash equivalents, and marketable	 	 	 	 	 	 	 	 	 	 	 	 	
securities, including restricted	 	 	 	 	 	 	$	52,095	 	 	$	60,691	 	 	
Other current assets	 	 	 	 	 	 	 	1,610	 	 	 	15,626	 	 	
Total current assets	 	 	 	 	 	 	 	53,705	 	 	 	76,317	 	 	
Long-term investments	 	 	 	 	 	 	 	2,237	 	 	 	2,209	 	 	
Property and equipment, net	 	 	 	 	 	 	 	165	 	 	 	606	 	 	
Other assets	 	 	 	 	 	 	 	659	 	 	 	1,362	 	 	
Total assets	 	 	 	 	 	 	$	56,766	 	 	$	80,494	 	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	
Liabilities and stockholders' equity:	 	 	 	 	 	 	 	 	 	 	 	 	
Current liabilities	 	 	 	 	 	 	$	3,181	 	 	$	16,917	 	 	
Stockholders' equity	 	 	 	 	 	 	 	53,585	 	 	 	63,577	 	 	
Total liabilities and stockholders' equity	 	 	 	 	 	 	$	56,766	 	 	$	80,494	 	 	

Contacts:	 	 	Andrew Hopkins	 	 	Anthony Ramos	
 	 	 	(858) 646-1127	 	 	Vice President and Chief Financial Officer	
 	 	 	Website:  www.vical.com