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 ...

AC Immune Progress Update on Phase 2 Active Immunotherapy Clinical Pipeline for Alzheimer's and Parkinson diseases ABATE Phase 1b/2 AD trial of ACI-24.060 completed enrollment of cohorts 1 and 2 and is expected to complete cohort 3 in January; 6-month and 12-month amyloid PET data expected in H1 & H2 2024, respectivelyReTain Phase 2b clinical trial of ACI-35.030 in preclinical AD being launched now by partner VacSYn Phase 2 PD trial of ACI-7104.056 completed enrollment of cohort 1 and commenced cohort 2; sa ...

[Financial Statements (Unaudited)](index=1&type=section&id=Financial%20Statements%20(Unaudited)) This section provides the unaudited condensed consolidated financial statements, offering a snapshot of the company's financial position, performance, and cash flows [Condensed Consolidated Balance Sheets (Unaudited)](index=1&type=section&id=Condensed%20Consolidated%20Balance%20Sheets%20(Unaudited)) As of September 30, 2023, the company's total assets and shareholders' equity decreased compared to December 31, 2022, while total liabilities slightly increased, primarily due to a significant reduction in short-term financial assets Condensed Consolidated Balance Sheets (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | September 30, 2023 | December 31, 2022 | | :-------------------------------- | :----------------- | :---------------- | | **Assets** | | | | Total non-current assets | 56,807 | 57,844 | | Total current assets | 86,179 | 128,094 | | **Total assets** | **142,986** | **185,938** | | **Shareholders' equity and liabilities** | | | | Total shareholders' equity | 125,664 | 168,991 | | Total non-current liabilities | 5,612 | 5,466 | | Total current liabilities | 11,710 | 11,481 | | **Total liabilities** | **17,322** | **16,947** | | **Total shareholders' equity and liabilities** | **142,986** | **185,938** | - As of September 30, 2023, the company's total assets were **142,986 Thousand Swiss Francs**, a **23.1%** decrease from **185,938 Thousand Swiss Francs** as of December 31, 2022[2](index=2&type=chunk) - Short-term financial assets significantly decreased from **91,000 Thousand Swiss Francs** as of December 31, 2022, to **48,000 Thousand Swiss Francs** as of September 30, 2023, representing a **47.3%** decrease[2](index=2&type=chunk) [Condensed Consolidated Statements of Income/(Loss) (Unaudited)](index=2&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%2F(Loss)%20(Unaudited)) For the three and nine months ended September 30, 2023, the company reported no contract revenue, and while operating expenses decreased, operating and net losses widened for the three-month period but narrowed for the nine-month period Condensed Consolidated Statements of Income/(Loss) (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | Three Months Ended September 30, 2023 | Three Months Ended September 30, 2022 | Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2022 | | :-------------------------------- | :------------------------------------ | :------------------------------------ | :----------------------------------- | :----------------------------------- | | Total revenue | — | 3,934 | — | 3,934 | | Operating loss | (15,466) | (13,463) | (50,083) | (52,150) | | Loss for the period | (15,143) | (13,516) | (49,489) | (52,004) | | Basic and diluted loss per share | (0.18) | (0.16) | (0.59) | (0.62) | - For the three and nine months ended September 30, 2023, the company's contract revenue was **zero**, compared to **3,934 Thousand Swiss Francs** in the prior year periods[5](index=5&type=chunk) - For the nine months ended September 30, 2023, operating loss narrowed from **(52,150) Thousand Swiss Francs** in the prior year period to **(50,083) Thousand Swiss Francs**, and net loss narrowed from **(52,004) Thousand Swiss Francs** to **(49,489) Thousand Swiss Francs**[5](index=5&type=chunk) [Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited)](index=2&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%2F(Loss)%20(Unaudited)) For the three and nine months ended September 30, 2023, the company's comprehensive loss was primarily driven by net loss, with foreign exchange differences and remeasurement gains on defined benefit plans also impacting comprehensive income Condensed Consolidated Statements of Comprehensive Income/(Loss) (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | Three Months Ended September 30, 2023 | Three Months Ended September 30, 2022 | Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2022 | | :-------------------------------- | :------------------------------------ | :------------------------------------ | :----------------------------------- | :----------------------------------- | | Loss for the period | (15,143) | (13,516) | (49,489) | (52,004) | | Foreign exchange differences | 11 | 23 | (5) | 72 | | Remeasurement gains on defined benefit plans | — | 178 | — | 7,559 | | Total comprehensive loss | (15,132) | (13,315) | (49,494) | (44,373) | - Total comprehensive loss for the nine months ended September 30, 2023, was **(49,494) Thousand Swiss Francs**, an increase from **(44,373) Thousand Swiss Francs** in the prior year period[6](index=6&type=chunk) [Condensed Consolidated Statements of Changes in Equity (Unaudited)](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Equity%20(Unaudited)) As of September 30, 2023, the company's total shareholders' equity decreased from the beginning of the year, primarily due to the net loss for the period, while equity-settled share-based payments and treasury share sales also impacted equity Condensed Consolidated Statements of Changes in Equity (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | Balance as of January 1, 2023 | Balance as of September 30, 2023 | | :-------------------------------- | :---------------------------- | :------------------------------- | | Share capital | 1,797 | 1,802 | | Share premium | 431,323 | 434,451 | | Treasury shares | (124) | (106) | | Accumulated deficit | (264,015) | (310,488) | | Foreign exchange differences | 10 | 5 | | **Total** | **168,991** | **125,664** | - Total shareholders' equity was **125,664 Thousand Swiss Francs** as of September 30, 2023, a **25.7%** decrease from **168,991 Thousand Swiss Francs** as of January 1, 2023[7](index=7&type=chunk) - For the first nine months of 2023, the company recognized **3,568 Thousand Swiss Francs** for equity-settled share-based payments and generated **2,540 Thousand Swiss Francs** in net proceeds from the sale of treasury shares[7](index=7&type=chunk) [Condensed Consolidated Statements of Cash Flows (Unaudited)](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows%20(Unaudited)) For the nine months ended September 30, 2023, the company saw reduced cash outflow from operating activities, a significant increase in cash inflow from investing activities, and a shift from cash outflow to inflow in financing activities, resulting in a net increase in cash and cash equivalents Condensed Consolidated Statements of Cash Flows (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2022 | | :-------------------------------- | :----------------------------------- | :----------------------------------- | | Net cash outflow from operating activities | (44,217) | (56,161) | | Net cash inflow from investing activities | 42,365 | 18,804 | | Net cash inflow/(outflow) from financing activities | 2,222 | (1,195) | | Net increase/(decrease) in cash and cash equivalents | 370 | (38,552) | | Cash and cash equivalents at end of period | 31,927 | 44,503 | - Net cash outflow from operating activities for the nine months ended September 30, 2023, was **(44,217) Thousand Swiss Francs**, an improvement from **(56,161) Thousand Swiss Francs** in the prior year period[9](index=9&type=chunk) - Net cash inflow from investing activities significantly increased from **18,804 Thousand Swiss Francs** in the prior year period to **42,365 Thousand Swiss Francs**, primarily driven by net proceeds from maturities of short-term financial assets[9](index=9&type=chunk) [Notes to the Interim Condensed Consolidated Financial Statements (Unaudited)](index=5&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) This section details the notes to the interim condensed consolidated financial statements, providing essential context and explanations for the reported financial figures and accounting policies [1. Corporate information](index=5&type=section&id=1.%20Corporate%20information) AC Immune SA, founded in 2003, is a clinical-stage biopharmaceutical company focused on developing innovative therapeutics and diagnostics for neurodegenerative diseases using proprietary technology platforms - AC Immune SA was founded in **2003** as a clinical-stage biopharmaceutical company[13](index=13&type=chunk) - The company leverages its proprietary **SupraAntigen** and **Morphomer** technology platforms to discover, design, and develop therapeutics and diagnostics for protein misfolding-related neurodegenerative diseases, including Alzheimer's, Parkinson's, ALS, and neuro-orphan indications[14](index=14&type=chunk) [2. Basis of preparation and changes to the Company's accounting policies](index=5&type=section&id=2.%20Basis%20of%20preparation%20and%20changes%20to%20the%20Company's%20accounting%20policies) These interim condensed consolidated financial statements are prepared in accordance with IAS 34, using the historical cost convention and Swiss Francs as the reporting currency, with management affirming the company's going concern ability - These interim condensed consolidated financial statements have been prepared in accordance with **International Accounting Standard 34 (IAS 34)**, Interim Financial Reporting[16](index=16&type=chunk) - The financial statements are prepared under the **historical cost convention** and presented in **Swiss Francs (CHF)**, the Group's reporting currency[17](index=17&type=chunk)[18](index=18&type=chunk) - Management believes that as of September 30, 2023, with a cash position of **31.9 million Swiss Francs** and short-term financial assets of **48.0 million Swiss Francs**, the company can meet all its obligations over the next **12 months**, thus preparing the financial statements on a **going concern basis**[24](index=24&type=chunk) [Critical judgments and accounting estimates](index=6&type=section&id=Critical%20judgments%20and%20accounting%20estimates) Management made key judgments and accounting estimates in areas such as accrued expenses for clinical development, employee defined benefit liabilities, and the valuation of IPR&D assets - The company made judgments, estimates, and assumptions in areas such as **accrued expenses for clinical development**, **net employee defined benefit liabilities**, **share-based payments**, **right-of-use assets**, **short-term and long-term lease liabilities**, and **IPR&D assets**[21](index=21&type=chunk) [Fair value of financial assets and liabilities](index=6&type=section&id=Fair%20value%20of%20financial%20assets%20and%20liabilities) The fair value of the company's financial assets and liabilities approximates their carrying amounts due to their short-term nature and classification at amortized cost under IFRS 9 - The fair value of the company's financial assets and liabilities approximates their carrying amounts due to the **short-term nature** of these financial instruments and their classification at **amortized cost** under **IFRS 9**[22](index=22&type=chunk) [Accounting policies, new standards, interpretations and amendments adopted by the Company](index=6&type=section&id=Accounting%20policies%2C%20new%20standards%2C%20interpretations%20and%20amendments%20adopted%20by%20the%20Company) The company's accounting policies remain consistent with the prior year, with no new IFRS standards or amendments adopted that are expected to have a significant impact - The accounting policies adopted by the company are consistent with those applied in the annual consolidated financial statements as of December 31, 2022, with no new **IFRS standards**, amendments, or interpretations issued but not yet effective having been adopted, and no significant impact is expected on current or future reporting periods[22](index=22&type=chunk)[23](index=23&type=chunk) [Going concern](index=6&type=section&id=Going%20concern) The company primarily funds its operations through public offerings, equity issuances, licensing agreements, and grants, while facing various risks related to project success and capital raising - The company primarily meets its cash requirements through **public offerings**, **equity issuances**, **contractual revenue from licensing and collaboration agreements**, and **grants**[25](index=25&type=chunk) - Risks faced by the company include **uncertainty of project success**, **ability to raise additional capital**, **maintaining patent position**, **establishing collaborations**, **successfully advancing product candidates into clinical development**, and **attracting and retaining key personnel**[25](index=25&type=chunk) [3. Contract revenues and other operating income](index=7&type=section&id=3.%20Contract%20revenues%20and%20other%20operating%20income) For the three and nine months ended September 30, 2023, the company generated no contract revenue, unlike the prior year, but saw an increase in grant income during the same period - AC Immune generated **no contract revenue** for the three and nine months ended September 30, 2023, compared to **3.9 million Swiss Francs** in the prior year periods[26](index=26&type=chunk) - Grant income recognized for the nine months ended September 30, 2023, was **1.0 million Swiss Francs**, an increase from **0.8 million Swiss Francs** in the prior year period[31](index=31&type=chunk) [3.1 Licensing and collaboration agreements](index=7&type=section&id=3.1%20Licensing%20and%20collaboration%20agreements) No significant events or transactions occurred under the company's licensing and collaboration agreements for the three and nine months ended September 30, 2023, unlike the prior year which included milestone revenue - No significant events or transactions occurred under the company's licensing and collaboration agreements for the three and nine months ended September 30, 2023[28](index=28&type=chunk) - In September 2022, the company recognized **4 million Euros (3.9 million Swiss Francs)** in milestone revenue from its collaboration with Life Molecular Imaging (LMI) for the Tau PET tracer **PI-2620** entering late-stage development for Alzheimer's disease[28](index=28&type=chunk) [3.2 Grant income](index=7&type=section&id=3.2%20Grant%20income) The company received follow-on and new grants from the Michael J. Fox Foundation in 2022 and 2023, supporting the development of its diagnostic programs - In August 2022, the company received a follow-on grant of **0.5 million US Dollars (0.5 million Swiss Francs)** from the Michael J. Fox Foundation (MJFF) to continue development of its **alpha-synuclein PET imaging diagnostic**[30](index=30&type=chunk) - In February 2023, the company received a new grant of **0.5 million US Dollars (0.5 million Swiss Francs)** from MJFF to support its **TDP-43 PET tracer program** development[30](index=30&type=chunk) [4. Loss per share](index=8&type=section&id=4.%20Loss%20per%20share) For the three months ended September 30, 2023, basic and diluted loss per share increased, while for the nine-month period, it decreased, consistent with the trend in net loss for the period Loss per share (Thousand Swiss Francs) | Indicator | Three Months Ended September 30, 2023 | Three Months Ended September 30, 2022 | Nine Months Ended September 30, 2023 | Nine Months Ended September 30, 2022 | | :--------------------------------------- | :------------------------------------ | :------------------------------------ | :----------------------------------- | :----------------------------------- | | Net loss attributable to equity holders (Thousand Swiss Francs) | (15,143) | (13,516) | (49,489) | (52,004) | | Weighted average shares outstanding used in computing loss per share | 84,715,515 | 83,590,948 | 84,012,166 | 83,537,655 | | Basic and diluted loss per share | (0.18) | (0.16) | (0.59) | (0.62) | - Basic and diluted loss per share for the three months ended September 30, 2023, was **(0.18) Swiss Francs**, an increase from **(0.16) Swiss Francs** in the prior year period[32](index=32&type=chunk) - Basic and diluted loss per share for the nine months ended September 30, 2023, was **(0.59) Swiss Francs**, a decrease from **(0.62) Swiss Francs** in the prior year period[32](index=32&type=chunk) [5. Property, plant and equipment](index=9&type=section&id=5.%20Property%2C%20plant%20and%20equipment) As of September 30, 2023, the net book value of the company's property, plant, and equipment decreased, yet it continued to invest in laboratory and IT infrastructure to support R&D functions Property, plant and equipment (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | December 31, 2022 | September 30, 2023 | | :-------------------------------- | :---------------- | :----------------- | | Acquisition cost | 13,602 | 14,206 | | Accumulated depreciation | (9,343) | (10,579) | | **Net book value** | **4,259** | **3,627** | - The net book value of property, plant, and equipment was **3,627 Thousand Swiss Francs** as of September 30, 2023, a decrease from **4,259 Thousand Swiss Francs** as of December 31, 2022[36](index=36&type=chunk) - The company invested **0.6 million Swiss Francs** in laboratory and IT equipment, representing a **5.3%** increase from the beginning of the year, to support its R&D functions[36](index=36&type=chunk) [6. Right-of-use assets, long-term financial assets and lease liabilities](index=9&type=section&id=6.%20Right-of-use%20assets%2C%20long-term%20financial%20assets%20and%20lease%20liabilities) As of September 30, 2023, the net book value of the company's right-of-use assets decreased due to depreciation, with no new right-of-use lease assets added during the period, and lease liability cash outflows and related expenses remained stable Right-of-use assets (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | December 31, 2022 | September 30, 2023 | | :-------------------------------- | :---------------- | :----------------- | | Net book value of right-of-use assets | 2,808 | 2,403 | - No new right-of-use lease assets were added, and their net book value decreased to **2,403 Thousand Swiss Francs** due to depreciation[37](index=37&type=chunk)[38](index=38&type=chunk) - Total lease cash outflows for the nine months ended September 30, 2023, were **1,075 Thousand Swiss Francs**, largely consistent with **1,037 Thousand Swiss Francs** in the prior year period[40](index=40&type=chunk) [7. Net employee defined benefit liabilities](index=10&type=section&id=7.%20Net%20employee%20defined%20benefit%20liabilities) For the nine months ended September 30, 2023, the company recognized service costs related to its employee defined benefit plans - For the nine months ended September 30, 2023, the company recorded **0.6 million Swiss Francs** in service costs in the condensed consolidated statements of income/(loss), including current service costs and those related to the **2023 plan amendment impact**[42](index=42&type=chunk) [8. Accrued expenses](index=10&type=section&id=8.%20Accrued%20expenses) As of September 30, 2023, the company's accrued expenses were slightly lower than December 31, 2022, primarily comprising R&D costs, personnel expenses, and other accrued items Accrued expenses (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | September 30, 2023 | December 31, 2022 | | :-------------------------------- | :----------------- | :---------------- | | Total accrued expenses | 9,338 | 9,417 | - Accrued expenses include **accrued research and development costs**, **accrued personnel expenses**, and **other accrued expenses**[43](index=43&type=chunk) [9. Intangible assets](index=11&type=section&id=9.%20Intangible%20assets) The company holds an acquired IPR&D asset, a clinically validated active vaccine candidate for Parkinson's disease, which is not yet in use and thus not amortized, with no impairment indicators identified as of the reporting period Intangible assets (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | September 30, 2023 | December 31, 2022 | | :-------------------------------- | :----------------- | :---------------- | | Acquired IPR&D assets | 50,416 | 50,416 | | **Total intangible assets** | **50,416** | **50,416** | - AC Immune's acquired IPR&D asset is a **clinically validated active vaccine candidate** for the treatment of **Parkinson's disease**[44](index=44&type=chunk) - The asset has not yet received market approval and is therefore **not amortized**, with no triggering events identified as of September 30, 2023, that would indicate impairment of this **IPR&D asset**[44](index=44&type=chunk)[45](index=45&type=chunk) [10. Prepaid expenses](index=11&type=section&id=10.%20Prepaid%20expenses) As of September 30, 2023, the company's prepaid expenses increased, primarily consisting of prepaid R&D and administrative costs Prepaid expenses (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | September 30, 2023 | December 31, 2022 | | :-------------------------------- | :----------------- | :---------------- | | Total prepaid expenses | 5,534 | 4,708 | - Prepaid expenses include **prepaid research and development costs** and **administrative costs**[46](index=46&type=chunk) [11. Cash and cash equivalents and short-term financial assets](index=11&type=section&id=11.%20Cash%20and%20cash%20equivalents%20and%20short-term%20financial%20assets) As of September 30, 2023, the company's cash and cash equivalents slightly increased, while short-term financial assets significantly decreased, reflecting changes in its investment portfolio Cash and cash equivalents and short-term financial assets (Thousand Swiss Francs) | Indicator (Thousand Swiss Francs) | September 30, 2023 | December 31, 2022 | | :-------------------------------- | :----------------- | :---------------- | | Cash and cash equivalents | 31,927 | 31,586 | | Short-term financial assets | 48,000 | 91,000 | - Short-term financial assets decreased from **91,000 Thousand Swiss Francs** as of December 31, 2022, to **48,000 Thousand Swiss Francs** as of September 30, 2023[48](index=48&type=chunk) - Net proceeds from maturities of short-term financial asset investments for the nine months ended September 30, 2023, were **43.0 million Swiss Francs**, an increase from **20.0 million Swiss Francs** in the prior year period[48](index=48&type=chunk) [12. Treasury shares](index=12&type=section&id=12.%20Treasury%20shares) During the second and third quarters of 2023, the company generated net proceeds from the sale of treasury shares, resulting in a reduction in the number of treasury shares held at the end of the reporting period - In the second quarter of 2023, the company sold **712,993 treasury ordinary shares**, generating net proceeds of **2.3 million US Dollars (2.1 million Swiss Francs)**[50](index=50&type=chunk) - In the third quarter of 2023, the company sold **205,015 treasury ordinary shares**, generating net proceeds of **0.6 million US Dollars (0.6 million Swiss Francs)**[50](index=50&type=chunk) - As of September 30, 2023, the company held **5,296,013 treasury shares**, a decrease from **6,214,021 shares** as of December 31, 2022[50](index=50&type=chunk) [13. Subsequent events](index=12&type=section&id=13.%20Subsequent%20events) Management has evaluated subsequent events up to the date of issuance of these interim condensed consolidated financial statements and found no material events requiring disclosure or recognition - Management has evaluated subsequent events up to the date of issuance of these interim condensed consolidated financial statements and found no material events requiring disclosure or recognition[51](index=51&type=chunk)

Exhibit 99.1 Condensed Consolidated Balance Sheets (Unaudited) (In CHF thousands) As of June 30, December 31, Note 2023 2022 Assets Non-current assets Property, plant and equipment 5 3,760 4,259 Right-of-use assets 6 2,539 2,808 Intangible asset 9 50,416 50,416 Long-term financial assets 6 361 361 Total non-current assets 57,076 57,844 Current assets Prepaid expenses 10 5,167 4,708 Accrued income 3 675 408 Other current receivables 303 392 Short-term financial assets 11 53,000 91,000 Cash and cash equivalen ...

Exhibit 99.1 Condensed Consolidated Balance Sheets (Unaudited) (In CHF thousands) As of March 31, December 31, Note 2023 2022 Assets Non-current assets Property, plant and equipment 5 4,011 4,259 Right-of-use assets 6 2,674 2,808 Intangible asset 8 50,416 50,416 Long-term financial assets 6 361 361 Total non-current assets 57,462 57,844 Current assets Prepaid expenses 9 5,438 4,708 Accrued income 3 218 408 Other current receivables 598 392 Short-term financial assets 10 48,000 91,000 Cash and cash equivalen ...

, 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, 2022 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 ...

Financial Performance - Total revenue for the nine months ended September 30, 2022, was CHF 3,934,000, compared to CHF 0 for the same period in 2021[4] - Operating loss for the three months ended September 30, 2022, was CHF 13,463,000, a decrease from CHF 20,283,000 in the same period of 2021, representing a 33.5% improvement[4] - The company reported a loss for the period of CHF 52,004,000 for the nine months ended September 30, 2022, compared to a loss of CHF 51,720,000 for the same period in 2021[5] - The basic and diluted loss per share for the nine months ended September 30, 2022, was CHF 0.62, compared to CHF 0.71 for the same period in 2021[4] - The company recorded a total comprehensive loss of CHF 44,373,000 for the nine months ended September 30, 2022, compared to CHF 51,720,000 for the same period in 2021, showing an improvement of approximately 14.3%[5] - The net loss attributable to equity holders for the three months ended September 30, 2022, was CHF 13.5 million, compared to CHF 15.9 million for the same period in 2021, resulting in a basic and diluted loss per share of CHF 0.16[37] - The net loss attributable to equity holders for the nine months ended September 30, 2022, was CHF 52 million, slightly higher than CHF 51.7 million for the same period in 2021, with a basic and diluted loss per share of CHF 0.62[37] Assets and Liabilities - Total shareholders' equity decreased to CHF 190,054,000 as of September 30, 2022, down from CHF 231,979,000 at the end of 2021, reflecting a decline of approximately 17.9%[1] - Cash and cash equivalents decreased to CHF 44,503,000 as of September 30, 2022, from CHF 82,216,000 at the end of 2021, indicating a reduction of 45.1%[2] - Total current liabilities decreased to CHF 13,600,000 as of September 30, 2022, from CHF 20,026,000 at the end of 2021, a reduction of 32.1%[3] - Total non-current assets decreased to CHF 57,955,000 as of September 30, 2022, from CHF 58,809,000 at the end of 2021, a decline of 1.4%[2] - As of September 30, 2022, accrued expenses totaled CHF 10.976 million, down from CHF 16.736 million as of December 31, 2021[48] - Prepaid expenses totaled CHF 2.9 million as of September 30, 2022, slightly down from CHF 3.0 million as of December 31, 2021[50] - Short-term financial assets due in one year or less amounted to CHF 96.0 million as of September 30, 2022, compared to CHF 116.0 million as of December 31, 2021[51] Cash Flow and Operating Activities - Cash used in operating activities for the nine months ended September 30, 2022, was CHF 55.8 million, an increase from CHF 47.5 million in the same period of 2021[8] - Net cash flows used in operating activities for the nine months ended September 30, 2022, amounted to CHF 56.2 million, compared to CHF 47.9 million in the prior year[8] - The net decrease in cash and cash equivalents for the nine months ended September 30, 2022, was CHF 38.6 million, compared to CHF 67.8 million in the same period of 2021[8] - Cash and cash equivalents at September 30, 2022, were CHF 44.5 million, down from CHF 93.6 million at the same time in 2021[8] - The company believes it can meet all obligations for at least 12 months from September 30, 2022, with a cash position of CHF 44.5 million and short-term financial assets of CHF 96.0 million[22] Research and Development - Research and development expenses for the nine months ended September 30, 2022, were CHF 45,200,000, an increase from CHF 42,158,000 in the same period of 2021[4] - The company recognized EUR 4 million (CHF 3.9 million) in contract revenue for the milestone achievement related to the Tau PET Tracer PI-2620 in Alzheimer's disease development[31] - The company received follow-on grant funding totaling USD 0.5 million (CHF 0.5 million) for the development of its alpha-synuclein PET imaging diagnostic agent, with USD 0.4 million (CHF 0.4 million) coming directly from the Michael J. Fox Foundation[33] - For the nine months ended September 30, 2022, the company recognized CHF 0.8 million in grant income, consistent with the previous year[34] Investments and Financial Gains - The company invested CHF 0.8 million in laboratory and IT equipment, representing a 7.0% increase from the beginning of the year[40] - The company recorded net financial losses of less than CHF 0.1 million for the three months ended September 30, 2022, compared to net financial gains of CHF 4.4 million in the same period of 2021[53] - For the nine months ended September 30, 2022, net financial gains were CHF 0.2 million, significantly lower than CHF 4.5 million recorded in the prior year[54] Other Information - The company had short-term financial assets of CHF 20.0 million as of September 30, 2022, compared to a net decrease of CHF 30.0 million in the prior year[8] - The company has 6,221,617 treasury shares remaining as of September 30, 2022[52] - There were no subsequent events after the balance sheet date that warrant disclosure or recognition in the Interim Condensed Consolidated Financial Statements[55]

Exhibit 99.1 The accompanying notes are an integral part of these Interim Condensed Consolidated Financial Statements (Unaudited). Condensed Consolidated Balance Sheets (Unaudited) (in CHF thousands) Balance Sheets Notes As of June 30, 2022 | --- | --- | --- | --- | |----------------------------------------------------|-------|-----------|-----------| | | | | 2021 | | ASSETS | | | | | Non-current assets | | | | | Property, plant and equipment | 5 | 4,997 | 5,116 | | Right-of-use assets | 6 | 2,632 | 2,914 | ...