AC Immune Focused on Immunotherapies After Termination of Genentech Licensing Deal -- Market Talk

Dow Jones01-22

1023 ET - AC Immune is focused on progressing its three immunotherapies targeting Alzheimer's and Parkinson's disease after the termination of its collaboration agreements with Roche's Genentech for crenezumab and semorinemab. The clinical-stage biopharmaceutical company hadn't recognized any contract revenue from the Genentech collaboration since at least 2019, SEC filings show. The company has a licensing deal with Johnson & Johnson's Janssen Pharmaceuticals for the immunotherapies and recently received CHF40 million in milestone payments. Chief Executive Andrea Pfeifer says the company is "well financed into 2026, and able to advance multiple high value development programs" with the payments and $50 million it recently raised in equity financing. Stock is flat at $4.15. (zaeem.shoaib@wsj.com)

(END) Dow Jones Newswires

January 22, 2024 10:23 ET (15:23 GMT)

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The clinical-stage biopharmaceutical company hadn't recognized any contract revenue from the Genentech collaboration since at least 2019, SEC filings show. The company has a licensing deal with Johnson & Johnson's Janssen Pharmaceuticals for the immunotherapies and recently received CHF40 million in milestone payments. Chief Executive Andrea Pfeifer says the company is \"well financed into 2026, and able to advance multiple high value development programs\" with the payments and $50 million it recently raised in equity financing. Stock is flat at $4.15. 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