AC Immune Reports Full Year 2025 Financial Results and Provides a Corporate Update

Core Insights - AC Immune SA reported significant advancements in precision therapeutics for neurodegenerative diseases, particularly highlighting the promising interim data from the VacSYn trial of ACI-7104, which targets α-synuclein and may slow the progression of early Parkinson's disease [3][6] - The company has initiated a Phase 1 trial for ACI-19764, a brain-penetrant NLRP3 inhibitor, which has potential applications beyond neurodegeneration [3][6] - Financially, the company had cash resources of CHF 91.4 million as of December 31, 2025, sufficient to fund operations until Q3 2027 [6][15] Clinical Developments - ACI-7104 has shown positive interim results in the Phase 2 VacSYn trial, suggesting it may slow Parkinson's disease progression, with a 100% responder rate for immunogenicity [6][7] - The Morphomer small molecule program is advancing, with ACI-19764 now in a Phase 1 trial, targeting the NLRP3 inflammasome [6][8] - Upcoming milestones include final data from the VacSYn trial expected in mid-2026 and interim results from the ABATE trial of ACI-24 in Alzheimer's disease anticipated in H1 2026 [11][12] Financial Performance - For the year ended December 31, 2025, the company reported a net loss of CHF 70.5 million, compared to a loss of CHF 50.9 million in 2024 [21][26] - Contract revenues significantly decreased to CHF 3.6 million from CHF 27.3 million in the previous year, primarily due to the absence of a major milestone payment recognized in 2024 [15][16] - Research and development expenses decreased to CHF 56.4 million, reflecting a strategic focus on advancing clinical-stage programs [21][25] Strategic Focus - The company has streamlined its operations, reducing its workforce by approximately 30% to extend its cash runway and focus on key clinical-stage assets [14][15] - AC Immune is leveraging its two technology platforms, SupraAntigen® and Morphomer®, to develop a range of therapeutic and diagnostic programs targeting neurodegenerative diseases [18] - The company has established strategic partnerships that have resulted in over $4.5 billion in potential milestone payments and royalties, enhancing its financial position [18]