AC Immune Reports Third Quarter 2025 Financial Results and Provides a Corporate Update
-- Sharpened investment focus on high-value assets, including three Phase 2
active immunotherapy programs and small molecule programs targeting
NLRP3, Tau and a-syn
-- Cash resources of CHF 108.5 million as of September 30, 2025, provide
funding to the end of Q3 2027 excluding any income from potential
milestones
-- Peer-reviewed papers covering groundbreaking results including clinical
data on ACI-35.030 (JNJ-64042056) published in eBioMedicine and
preclinical data on first-in-class PET tracers for imaging TDP-43
pathology published in Nature Communications
-- IND/CTA filing for small molecule NLRP3 inhibitor ACI-19764 and the start
of IND-enabling studies for Morphomer-Tau aggregation inhibitor both
expected by year-end
Lausanne, Switzerland, November 4, 2025 -- AC Immune SA $(ACIU)$, a clinical-stage biopharmaceutical company pioneering precision therapeutics for neurodegenerative diseases, today reported results for the quarter ended September 30, 2025, and provided a corporate update.
Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: "We have sharpened our investment focus on our most valuable assets following a strategic review. Our pipeline assets have the potential to transform treatment and enable prevention of neurodegenerative disease. Our active immunotherapies for precision prevention of neurodegenerative diseases continue to make strong progress through Phase 2 development in Alzheimer's disease and Parkinson's disease. These are complemented by novel small-molecule therapeutics targeting intracellular mechanisms of neurodegenerative diseases. Importantly, our recent pipeline prioritization has extended our cash runway to the end of Q3 2027, without including anticipated milestone payments from our existing collaborations or potential payments from new business development deals.
"We are now moving towards multiple value-inflection points. Further interim results from Part 1 of the VacSYn trial of ACI-7104.056, our wholly owned anti-alpha-synuclein active immunotherapy for Parkinson's disease, are expected this quarter. Our two partnered active immunotherapy programs are continuing to progress according to plan. We also published data in The Lancet's eBioMedicine on ACI-35.030 (JNJ-64042056) with the first clinical demonstration that our SupraAntigen$(R)$ platform generates highly differentiated active immunotherapies compared with other approaches, even with the same peptide sequence. This technology also powers our ACI-24.060 anti-Abeta active immunotherapy program, for which additional results are expected in H1 next year."
Q3 2025 and Subsequent Highlights:
-- Following a strategic review by executive management, the Company
sharpened its focused investment on its most important assets.
-- These include its three clinical-stage active immunotherapy
programs, two of which are in ongoing pharma collaborations, and
its most promising small molecule programs targeting NLRP3, Tau
and a-synuclein.
-- As a result, the Company has reduced its workforce by around 30%
and extended its cash for operations to the end of Q3 2027.
-- AC Immune groundbreaking research results published in peer-reviewed
journals including:
-- the clinical results from the completed Phase 1b/2a trial of
active immunotherapy ACI-35.030's (JNJ-2056) partnered with
Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, in
eBioMedicine.
-- preclinical research demonstrating the in vivo activity of a
vectorized (AAV9) anti-TDP-43 monoclonal antibody in a model of
ALS/FTD, in Molecular Therapy.
-- first-in-class positron emission tomography (PET) tracers for
imaging TDP-43 pathology in the brain, including ACI-19626, that
could enable a precision medicine approach to neurodegenerative
diseases which are currently difficult to diagnose, in Nature
Communications.
-- Appointed Prof. Catherine Mummery, a deeply experienced neurologist and
expert in dementia clinical trials, as a member and Chair of its Clinical
Advisory Board (CAB).
Anticipated 2025 Milestones
Program Milestone Expected in
-------------------------------- ------------------------------- -----------
ACI-7104.056 Further interim results from Q4 2025
anti-a-syn active immunotherapy Part 1 of Phase 2 VacSYn trial
in PD, including
pharmacodynamics and
biomarkers
-------------------------------- ------------------------------- -----------
ACI-24.060 ABATE Phase 2 trial reaches Q4 2025
anti-Abeta active immunotherapy 12-month treatment timepoint in
the AD3 cohort by year end
(with interim results reported
thereafter)
-------------------------------- ------------------------------- -----------
ACI-19764 IND/CTA filing Q4 2025
Small molecule NLRP3 inhibitor
------------------------------- -----------
Morphomer-Tau aggregation Lead declaration and initiation Q4 2025
inhibitors of IND-enabling studies
-------------------------------- ------------------------------- -----------
Morphomer a-syn aggregation Lead declaration Q4 2025
inhibitor
-------------------------------- ------------------------------- -----------
TDP-43-PET tracer Initial Phase 1 readout in Q4 2025
genetic frontotemporal dementia
(FTD)
-------------------------------- ------------------------------- -----------
ACI-15916 Phase 1 readout in Parkinson's Q4 2025
a-syn-PET tracer disease $(PD)$
-------------------------------- ------------------------------- -----------
Analysis of Financial Statements for the Quarter Ended September 30, 2025
-- Cash position: The Company had total cash resources of CHF 108.5 million
(CHF 165.5 million as of December 31, 2024), composed of CHF 27.7 million
in cash and cash equivalents and CHF 80.7 million in short-term financial
assets. The Company's cash balance is expected to provide sufficient
capital resources to the end of Q3 2027, excluding potential milestone
payments.
-- R&D expenditures: R&D expenses for the three months ended September 30,
2025, were CHF 13.1 million, compared with CHF 14.5 million for the
comparable period in 2024. The decrease was primarily due to lower spend
associated with the ACI-24.060 ABATE study during the period, as well as
lower expenses incurred on ACI-7104.056. These reductions were offset by
higher costs in our NLRP3 inhibitor program (ACI-19764).
-- G&A expenditures: G&A expenses in the period were CHF 3.6 million,
compared with CHF 3.8 million for the comparable period in 2024.
-- Restructuring expenses: Expenses recognized as a result of the
restructuring were CHF 0.5 million compared to nil for the comparable
period in 2024. These expenses include CHF 2.1 million of termination
benefits, offset by a CHF 1.8 million gain on curtailment in the defined
benefit pension liability.
-- Financial result: The financial result, net was a CHF 0.3 million gain
for the three months ended September 30, 2025, compared to a CHF 1.8
million loss for the comparable period in 2024. This change was primarily
driven by increased stability in foreign currency exchange differences in
CHF versus foreign currencies, predominantly the U.S. Dollar.
-- IFRS loss for the period: The Company reported a net loss after taxes of
CHF 15.9 million for the three months ended September 30, 2025, compared
with a net income of CHF 5.5 million for the comparable period in 2024.
The change period over period derives primarily from the recognition of a
CHF 24.6 million milestone in Q3 2024 under the collaboration with
Janssen Pharmaceuticals, Inc.
About AC Immune SA
AC Immune SA is a clinical-stage biopharmaceutical company and a global leader in precision prevention for neurodegenerative diseases, including Alzheimer's disease, Parkinson's disease, and NeuroOrphan indications driven by misfolded proteins. The Company's two clinically validated technology platforms, SupraAntigen(R) and Morphomer(R), fuel its broad and diversified pipeline of first- and best-in-class assets, which currently features a range of therapeutic and diagnostic programs, including candidates in Phase 2 and Phase 3 development. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies, resulting in substantial non-dilutive funding to advance its proprietary programs and >$4.5 billion in potential milestone payments plus royalties.
SupraAntigen(R) is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer(R) is a registered trademark of AC Immune SA in CN, CH, EU, GB, JP, KR, NO, RU and SG.
The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release.
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