March 9, 2015 - The court granted the defendants' motion to dismiss, dismissed the case without prejudice and granted plaintiff leave to file an amended complaint.
June 9, 2014 - Defendants filed a motion to dismiss.

May 12, 2014 - The lead plaintiff filed another amended consolidated complaint on behalf of investors who purchased Vical Incorporated (NASDAQ: VICL) common shares between August 3, 2011 and August 12, 2013. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between August 3, 2011 and August 12, 2013.

April 3, 2014 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Vical Incorporated (NASDAQ: VICL) common shares between November 1, 2011 and August 12, 2013. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 1, 2011 and August 12, 2013.

February 26, 2014 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

December 31, 2013 - Lead plaintiff motions were filed.

November 4, 2013 - Another investor filed a complaint.

October 30, 2013 - An investor in shares of Vical Incorporated (NASDAQ: VICL) filed a lawsuit in the U.S. District Court for the Southern District of California against Vical Incorporated over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 8, 2012 and August 12, 2013 over its immunotherapy vaccine Allovectin-7.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Vical Incorporated (NASDAQ: VICL) between February 8, 2012 and August 12, 2013, that Vical Incorporated and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff alleges that the defendants violated the federal securities laws by repeatedly touting the importance and potential success of Allovectin-7® through press releases, U.S. Securities and Exchange Commission filings, investor/analyst conference calls, and other publicly available documents.

The plaintiff claims that due to Defendants’ dissemination of allegedly materially false and misleading statements, the investing public was led to believe that Allovectin-7 would receive approval from the FDA after the completion of the vaccine’s Phase 3 clinical trial, that defendants continued to allegedly mislead investors about Vical Incorporated’s current and future business and financial condition even after they became aware of Allovectin-7’s disappointing results, and that as a result of Defendants’ statements, Vical Incorporated (NASDAQ: VICL) stock traded at artificially inflated prices between February 8, 2012 and August 12, 2013.

Vical Incorporated reported that its annual Total Revenue declined from $30.02 million in 2011 to $17.52 million in 2012 and that its respective Net Loss increased from $7.28 million to $22.90 million.

Shares of Vical Incorporated (NASDAQ: VICL) traded during 2011 as high as $5.20 and during 2012 as high as $4.43 per share.

On August 12, 2013, Vical Incorporated announced results from a Phase 3 trial of Allovectin in patients with metastatic melanoma.

Vical Incorporated said that the trial failed to demonstrate a statistically significant improvement vs. first-line chemotherapy for either the primary endpoint of objective response rate at 24 weeks or more after randomization or the secondary endpoint of overall survival.

The president and Chief Executive Officer of Vical Incorporated said that based on this outcome, Vical Incorporated is terminating the Allovectin® program.

Shares of Vical Incorporated (NASDAQ: VICL) dropped from $3.58 per share on Friday, August 9, 2013, to $1.40 on Monday, August 12, 2013.