Vical Incorporated Prices Public Offering of Common Stock at $3.75 per Share

Vical Incorporated (Nasdaq: VICL) today announced the pricing of an underwritten public offering of 13,333,334 shares of its common stock at a price to the public of $3.75 per share. The gross proceeds to us from this offering are expected to be approximately $50 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by us. The offering is expected to close on or about January 11, 2012, subject to customary closing conditions.