Core Insights - AC Immune's stock is experiencing an increase following the release of its Q1 2024 earnings report, which includes a significant operational update [1] - The company has entered into a collaboration agreement with Takeda Pharmaceutical, involving a licensing agreement for AC Immune's ACI-24.060, which includes an upfront payment of $100 million and potential payments of up to $2.1 billion [1] Financial Highlights - The collaboration with Takeda Pharmaceutical includes an upfront payment of $100 million to AC Immune [1] - Potential future payments from the agreement could reach up to $2.1 billion, contingent on option exercise and milestones [1] Market Performance - AC Immune's stock has risen by 45% as of Monday morning, with over 6.6 million shares traded, significantly exceeding the average daily trading volume of approximately 185,000 shares [2] - The company is expected to report initial results from its ongoing Phase 2 clinical trial of ACI-24.060 this month, with further data anticipated in the second half of 2024 [2]

Financial Performance - The company reported a net loss of CHF 17,862 thousand for the three months ended March 31, 2024, compared to a net loss of CHF 17,513 thousand for the same period in 2023, indicating a slight increase in losses[7]. - Total comprehensive loss for the period was CHF 17,846 thousand, slightly better than the CHF 17,521 thousand reported in the previous year[7]. - For the three months ended March 31, 2024, the net loss attributable to equity holders was CHF 17,862 thousand, compared to a loss of CHF 17,513 thousand for the same period in 2023[32]. - The diluted loss per share for the period was CHF (0.18), compared to CHF (0.21) for the same period last year, showing an improvement in loss per share[5]. - The basic and diluted loss per share for the period was CHF (0.18), an improvement from CHF (0.21) in the prior year[32]. Assets and Liabilities - Total assets decreased from CHF 182,814 thousand as of December 31, 2023, to CHF 167,281 thousand as of March 31, 2024, representing a decline of approximately 8.5%[2]. - Shareholders' equity decreased from CHF 160,643 thousand to CHF 144,681 thousand, a reduction of about 9.9%[2]. - Cash and cash equivalents decreased from CHF 78,494 thousand to CHF 57,009 thousand, a decline of approximately 27.4%[2]. - Total current liabilities increased from CHF 13,576 thousand to CHF 14,124 thousand, an increase of about 4%[2]. - As of March 31, 2024, cash and cash equivalents totaled CHF 57,009 thousand, down from CHF 57,434 thousand at the end of March 2023[1]. - AC Immune's accrued expenses totaled CHF 10.5 million as of March 31, 2024, down from CHF 11.1 million as of December 31, 2023, reflecting a decrease of 4.9%[43]. Cash Flow and Investments - Cash provided by operating activities was CHF 704 thousand, a significant recovery from a cash used of CHF (16,769) thousand in the same period last year[1]. - The company reported net cash flows used in investing activities of CHF (23,561) thousand, compared to cash provided of CHF 42,800 thousand in the prior year[1]. - The company invested CHF 0.2 million in laboratory equipment during the first quarter of 2024, representing a 1.6% increase from the beginning of the year[36]. - The total cash outflow for leases was CHF 391,000 for the three months ended March 31, 2024, compared to CHF 458,000 in the prior year[40]. Financial Position - The company has a cash position of CHF 57.0 million and short-term financial assets of CHF 47.8 million as of March 31, 2024, indicating a stable financial outlook[27]. - Short-term financial assets increased significantly to CHF 47.8 million as of March 31, 2024, compared to CHF 24.6 million as of December 31, 2023, marking an increase of 94.5%[49]. - The company recorded a net financial gain of CHF 2.2 million for the three months ended March 31, 2024, compared to CHF 0.1 million in the same period of 2023, indicating a substantial improvement[52]. Revenue and Grants - The company recognized less than CHF 0.1 million in grant income for the three months ended March 31, 2024, down from CHF 0.4 million in the same period of 2023[31]. - The company has not generated any contract revenues for the three months ended March 31, 2024 and 2023[29]. Collaborations and Agreements - The company announced it will regain all global rights to the anti-amyloid beta antibody crenezumab and the anti-Tau antibody semorinemab following the termination of collaboration agreements with Genentech and Roche[30]. - The company received a CHF 14.8 million milestone payment from Janssen, resulting in a nil balance for accounts receivable as of March 31, 2024[50]. - On May 11, 2024, AC Immune entered into a licensing agreement with Takeda Pharmaceuticals, which includes an upfront payment of USD 100 million (CHF 91 million) and potential total payments of approximately USD 2.1 billion (CHF 1.9 billion)[54].

Core Insights - AC Immune SA reported a landmark collaboration with Takeda for the development of ACI-24.060, which includes an upfront payment of $100 million and potential total payments of approximately $2.1 billion [1][3] - The company is on track to report Phase 2 trial results for ACI-24.060 in Q2 2024, focusing on amyloid plaque reduction in Alzheimer's disease [2][4] - AC Immune has a strong financial position with CHF 104.8 million in cash at the end of Q1 2024, providing a runway for at least three years [6] Financial Highlights - The cash balance as of March 31, 2024, was CHF 104.8 million, an increase from CHF 103.1 million at the end of 2023, including CHF 47.8 million in cash and cash equivalents and CHF 57.0 million in short-term financial assets [6] - Research and development expenses for Q1 2024 were CHF 15.2 million, compared to CHF 13.9 million in the same period in 2023, primarily due to increased clinical expenses for ACI-24.060 [6] - The company reported a net loss of CHF 17.9 million for Q1 2024, slightly higher than the net loss of CHF 17.5 million in Q1 2023 [6][14] Pipeline Developments - ACI-24.060 is currently in the ABATE Phase 2 trial, with full enrollment in cohorts 1 and 2, and cohort 3 expected to complete enrollment by year-end [3] - The ACI-7104.056 VacSYn Phase 2 trial for Parkinson's disease is on track for interim safety and immunogenicity data in H2 2024 [5] - The ACI-35.030 anti-phospho-Tau active immunotherapy is being evaluated in a Phase 2b trial, with the first patient expected to be treated soon [5] Strategic Partnerships - The collaboration with Takeda aims to leverage both companies' expertise in neuroscience, enhancing AC Immune's position in the field of neurodegenerative diseases [2] - The agreement includes tiered royalties on worldwide net sales upon commercialization, further strengthening AC Immune's revenue potential [3]

AC Immune and Takeda Sign Exclusive Option and License Agreement for Active Immunotherapy Targeting Amyloid Beta for Alzheimer's Disease Takeda to receive exclusive option to license global rights to ACI-24.060, a potential first-in-class active immunotherapy designed to delay or slow Alzheimer's disease progressionAC Immune to receive upfront payment of $100 million upon closing and be eligible for an option exercise fee and additional potential milestones of up to approximately $2.1 billionAC Immune to h ...

Financial Position - Cash and cash equivalents totaled CHF 103.0 million as of December 31, 2023[4]. - The company raised USD 50 million in a focused financing transaction in December 2023, extending its cash runway into 2026[11]. - The total value of collaboration agreements is approximately CHF 2,600 million, with upfront payments and milestones received to date totaling CHF 147.4 million[59]. - The company successfully raised USD 50 million through an equity offering in December, strengthening its financial position[94]. Research and Development - Research and development expenditure for the year was CHF 54.6 million[4]. - The company has 9 clinical programs and employs 161 people worldwide[4]. - The company is advancing 16 therapeutic and diagnostic programs, with one in Phase 3 and five in Phase 2 clinical development[22]. - The first-in-class vaccine candidate ACI-35.030 has entered a Phase 2b clinical trial, with an initial CHF 15 million milestone payment and an expected CHF 25 million upon achieving a patient enrollment target[10]. - The company is advancing ACI-24.060, an anti-Abeta active immunotherapy, in a Phase 1b/2 trial, with data expected in H1 2024[52]. - ACI-7104.056, targeting a-synucleinopathies, is currently in a Phase 2 study, with the first patient dosed in July 2023 and cohort 1 enrollment completed in December 2023[53]. - AC Immune received Fast Track designation from the FDA for ACI-24.060 for AD treatment, following the clearance of the Investigational New Drug application in May 2023[53]. - AC Immune's clinical stage pipeline includes multiple product candidates targeting key proteins involved in neurodegenerative diseases[53]. - ACI-35.030 generated a rapid antibody response after the first injection, with a strong response against pathological Tau species observed at mid- and high doses[55]. - A Phase 2b study for ACI-35.030 will randomize approximately 500 participants with confirmed early-stage Tau pathology, with the first patient dosed in H1 2024[55]. - PI-2620 is advancing into late-stage clinical development for Alzheimer's disease, with the first patient imaged in January 2023[55]. - ACI-12589 has been clinically validated as a-a-syn-PET tracer, with IND/CTA-enabling studies for its next-generation candidate ACI-15916 planned to start in Q1 2024[55]. - The company aims to shift the treatment paradigm towards earlier intervention and prevention of neurodegeneration[15]. - Active immunotherapies are designed to stimulate the immune system to produce antibodies against pathological proteins, potentially modifying disease progression[51]. - The company is developing integrated diagnostic and therapeutic strategies to provide tailored treatments for neurodegenerative conditions[50]. - AC Immune's strategy focuses on three pillars: accelerating novel therapeutics development in Alzheimer's disease (AD), expanding into Parkinson's disease (PD) and non-AD neurodegenerative diseases, and enhancing diagnostics for Precision Medicine[41]. - The company aims to address co-pathologies in neurodegenerative diseases through a Precision Medicine approach, potentially increasing treatment success rates[42]. Market Opportunity - The estimated global patient population for dementia is projected to increase from over 50 million in 2020 to 139 million by 2050[25]. - The total healthcare costs for Alzheimer's disease in the U.S. were estimated at USD 321 billion in 2022, with worldwide costs expected to reach approximately USD 2.8 trillion annually by 2030[26]. - Over 400 million people globally could benefit from active immunotherapy, addressing the need for preventive therapies in neurodegenerative diseases[86]. - The global annual cost of treating dementia is estimated at USD 1 trillion, highlighting the economic burden of neurodegenerative diseases[86]. - The population at risk of developing preclinical Alzheimer's disease is estimated at over 300 million, indicating a significant market opportunity[82]. Sustainability and Governance - AC Immune achieved an 11.2% reduction in electricity usage from 2022 to 2023, reflecting targeted environmental strategies[112]. - The company has ambitious recycling targets of 70% as part of its waste management strategies[112]. - AC Immune provides up to a 30% annual subsidy for public transport fares to promote sustainable commuting[113]. - The company actively tracks and aligns with the Sustainable Development Goals (SDGs) among over 3,000 diverse companies[112]. - AC Immune's Board of Directors maintains a majority-independent structure, with 86% independent directors[126]. - The average age of directors on the Board is 61 years, with an average tenure of 4 years[126]. - The company has implemented a Quality Management System (QMS) to ensure compliance and facilitate innovation throughout the product lifecycle[120]. - AC Immune's cybersecurity program is designed based on the COBIT 2019 framework to protect sensitive information and mitigate cyber threats[119]. Executive Compensation and Management - The total executive management compensation for 2023 amounted to CHF 2,603,000, with a cash bonus component of CHF 1,104,000[157]. - The total compensation for the Board of Directors in 2023 was CHF 935,000, a decrease from CHF 1,256,000 in 2022[155][156]. - Andrea Pfeifer, Ph.D., the CEO, received a total compensation of CHF 578,000 in cash, along with CHF 468,000 as a cash bonus[157]. - The company appointed Nuno Mendonça, M.D. as Chief Medical Officer in October 2023, succeeding Johannes Streffer, M.D.[154]. - Madiha Derouazi, Ph.D. will serve as Chief Scientific Officer starting January 1, 2024, following her role as CEO at Speransa Therapeutics[139]. - The Board of Directors consists of six directors and the CEO, with members elected for a renewable one-year term[148]. - The compensation structure for board members includes fixed fees and equity instruments, with annual fixed fees paid semi-annually in Swiss Francs[150]. - The company follows Swiss rules for board governance instead of NASDAQ exchange listing rules, allowing for a non-majority independent board[149]. - The total gross cash compensation for the Board of Directors in 2023 was CHF 500,000, compared to CHF 549,000 in 2022[155][156]. - The company has a focus on expanding its executive team with experienced leaders from the biopharmaceutical industry to enhance its operational capabilities[138][139]. - Total Executive Management Compensation for 2023 was CHF 3,555,000, a decrease from CHF 3,555,000 in 2022[159]. - The company paid CHF 332,000 in social security contributions for Executive Management in 2023, down from CHF 349,000 in 2022[159]. - The Chief Executive Officer, Andrea Pfeifer, received total compensation of CHF 993,000 in 2022, which included CHF 558,000 in cash compensation and CHF 575,000 in equity fair market value[159]. - As of December 31, 2023, the total number of unvested Restricted Share Units held by the Board of Directors was 432,776[164]. - The total number of vested Stock Options for the Chief Executive Officer in 2023 was 894,038, with 683,096 unvested[169]. - AC Immune's compensation philosophy aims to attract and retain top talent by offering a competitive total compensation package[174]. - The company engaged a remuneration expert in 2023 to analyze compensation levels, concluding that adjustments were necessary to remain competitive[175]. - No loans or compensation were provided to members or former members of the Executive Management in 2023 or 2022[163]. - The total number of vested Restricted Share Units for the Chief Executive Officer in 2023 was 131,435[169]. - The maximum compensation for the Board of Directors and Executive Management is approved annually by shareholders, with the latest approval on June 24, 2022[178]. - In 2023, the company granted options for the right to acquire 1,554,281 shares at an exercise price ranging from USD 2.03 to USD 3.11 per share, compared to 633,063 shares at USD 2.76 to USD 3.15 in 2022[189]. - The target bonus for Executive Management in 2023 ranges from 20% to 69% of their base salary, with a median of 35%[185]. - The actual target achievement of corporate goals for 2023 was 104.2%, compared to 90% in 2022[186]. - The company’s pension plan contributions are shared approximately 47% by employees and 53% by the employer[188]. - The annual cash bonus for 2023 and 2022 was based on the achievement of corporate and individual goals, with specific R&D milestones included[185]. - The equity awards for Executive Management continue to be in the lower range of the peer group according to external benchmarking[185]. - The Executive Management team members have an unlimited duration contract with a notice period of twelve months[187]. - The company’s compensation policies are reviewed periodically to ensure alignment with market conditions and performance[177]. - The CNC meets at least four times per year to inform the Board of Directors of its recommendations and decisions[177].

, UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

A downtrend has been apparent in AC Immune (ACIU) lately with too much selling pressure. The stock has declined 35.7% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.Here is How to Spot Oversold StocksWe use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spott ...

AC Immune to Regain Global Rights to Crenezumab and Semorinemab Company's strategy is focused on advancing the Phase 2 development of its three active immunotherapiesActive immunotherapy now considered to be the optimal approach for precision prevention of neurodegenerative diseases Lausanne, Switzerland, January 22, 2024 – AC Immune SA (NASDAQ:ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, today announced that the Company will regain all glob ...

Wall Street had a disappointing start to 2024 as the nine-week winning streak snapped, erasing some of the strong gains seen at the end of 2023. Overstretched valuations and uncertainty around when the Fed will begin to cut rates have dampened investors’ optimism. The decline was broad-based, with small-cap stocks plunging the most.The Russell 2000 Index declined 3.7% in the initial week of 2024. The trend might reverse, given what is called the “January Effect," which refers to a seasonal increase in stock ...

Investors might want to bet on AC Immune (ACIU) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.Since ...