AC Immune(US:ACIU)2022-10-27 16:00Financial 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]