Core Insights - AC Immune SA is focusing its investments on key assets, particularly three clinical-stage active immunotherapy programs and promising small molecule programs targeting NLRP3 and Tau [2][5] - The company plans to reduce its workforce by approximately 30% to enhance operational efficiency and extend its cash runway to the end of Q3 2027 [2][9] - CEO Dr. Andrea Pfeifer highlighted the progress in product candidates aimed at treating neurodegenerative diseases and the importance of ongoing collaborations with major pharmaceutical companies [3][4] Financial and Operational Strategy - The strategic review has led to a sharper focus on late-stage clinical development, particularly for Alzheimer's and Parkinson's diseases [9] - As of June 30, 2025, AC Immune reported cash resources of CHF 127.1 million, which will support operations until the end of Q3 2027, excluding potential milestone payments from partnerships [9] - The company maintains its guidance on clinical timelines, with interim data from ACI-7104.056 and ACI-24.060 expected in H2 2025 and H1 2026, respectively [5] Workforce and Employee Support - A consultation process with employees has been initiated in accordance with Swiss employment law, with support measures including severance packages and assistance in job placement [6] - The full implementation of workforce changes is expected by the end of 2025, with cost reductions becoming effective early in 2026 [6] Company Overview - AC Immune is a clinical-stage biopharmaceutical company specializing in precision therapeutics for neurodegenerative diseases, with validated technology platforms, SupraAntigen® and Morphomer® [7] - The company has a diversified pipeline featuring therapeutic and diagnostic programs, with significant potential for milestone payments exceeding $4.5 billion from strategic partnerships [7]

Core Insights - AC Immune SA reported its financial results for Q1 2025, highlighting advancements in its clinical-stage immunotherapy portfolio for neurodegenerative diseases [2][4] - The company demonstrated strong immunogenicity and a favorable safety profile for its lead candidate ACI-7104.056 in early Parkinson's disease patients [3][5] - AC Immune is well-financed with cash resources of CHF 145.7 million, sufficient to support operations into Q1 2027 [5][10] Clinical Development - The interim Phase 2 data for ACI-7104.056 showed antibody responses that were over 20-fold higher than placebo after four immunizations [6] - The company anticipates further interim results from the Phase 2 VacSYn trial in Q2 2025, which may lead to the initiation of Part 2 of the trial in H2 2025 [7][6] - Presentations at the AD/PD™ 2025 conference showcased the company's leadership in active immunotherapy and promising early-stage assets [5][6] Financial Performance - For the three months ended March 31, 2025, AC Immune reported a net loss of CHF 19.0 million, compared to a net loss of CHF 17.9 million for the same period in 2024 [10][18] - Research and development expenses were CHF 15.9 million, slightly higher than CHF 15.2 million in Q1 2024, primarily due to ongoing clinical trial costs [10][18] - The company had total revenue of CHF 990,000 from contract revenue, marking a new revenue stream [10][18] Anticipated Milestones - Key milestones for 2025 include reaching the 12-month treatment timepoint for the ACI-24.060 trial in H2 2025 and further interim results from ACI-7104.056 in Q2 2025 [7] - The company plans to declare leads and initiate IND-enabling studies for several early-stage candidates in H2 2025 [7]

Core Insights - AC Immune SA reported significant advancements in its pipeline for neurodegenerative diseases, including a landmark deal with Takeda worth up to $2.1 billion, which includes a $100 million upfront payment [3][5][6] - The company achieved encouraging clinical data from its active immunotherapy programs, particularly ACI-7104.056 and ACI-24.060, and received U.S. FDA Fast Track designation for ACI-35.030 [3][5][6] - Financial results showed an increase in contract revenues to CHF 27.3 million for 2024, up from CHF 14.8 million in 2023, and a cash position of CHF 165.5 million, providing funding into Q1 2027 [14][26] Financial Performance - Total cash resources increased to CHF 165.5 million as of December 31, 2024, compared to CHF 103.1 million in 2023, ensuring operational funding into Q1 2027 [14][26] - Contract revenues for 2024 were CHF 27.3 million, significantly higher than CHF 14.8 million in the previous year, driven by milestone payments from partnerships with Janssen and Takeda [14][26] - The company reported a net loss of CHF 50.9 million for 2024, an improvement from a net loss of CHF 54.2 million in 2023 [14][26] Pipeline and Clinical Developments - ACI-24.060's ABATE Phase 1b/2 trial showed positive interim safety and tolerability data, with further results expected in 2025 [5][6] - ACI-35.030 (JNJ-2056) received U.S. FDA Fast Track designation, and the second milestone payment of CHF 24.6 million was triggered by rapid prescreening rates in the ReTain trial [11][14] - ACI-7104.056 demonstrated positive interim results in the VacSYn Phase 2 trial for Parkinson's disease, with further results anticipated in H1 2025 [5][11] Strategic Partnerships - The exclusive option and license agreement with Takeda for ACI-24.060 includes potential milestone payments of up to approximately $2.1 billion and tiered royalties on sales upon commercialization [5][6] - The partnership with Janssen resulted in a CHF 24.6 million milestone payment, reflecting the rapid progress in the ReTain trial for ACI-35.030 [11][14] Research and Development - R&D expenditures increased to CHF 62.6 million in 2024, primarily due to heightened clinical activities in ongoing trials [14][26] - The company is advancing multiple early-stage assets, including small molecule candidates targeting NLRP3 and Tau, with lead candidates expected to be selected in 2025 [3][14] Future Outlook - The company anticipates significant milestones in 2025, including interim results from the ABATE trial and further developments in its small molecule programs [13][14] - Total cash expenditure for 2025 is expected to be in the range of CHF 75–85 million, reflecting ongoing investment in clinical development [16]