AC Immune Reports First Quarter 2024 Financial Results and Provides a Corporate Update

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]