Full Press Release Details
AC Immune Reports Third Quarter 2025 Financial Results and Provides a Corporate Update
Lausanne, Switzerland, November 4, 2025 --AC Immune SA (NASDAQ: 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’seBioMedicineon ACI-35.030 (JNJ-64042056) with the first clinical demonstration that our SupraAntigen® 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:
Anticipated 2025 Milestones
| Program | Milestone | Expected in |
| ACI-7104.056anti-a-syn active immunotherapy | Further interim results from Part 1 of Phase 2 VacSYn trial in PD, including pharmacodynamics and biomarkers | Q4 2025 |
| ACI-24.060anti-Abeta active immunotherapy | ABATE Phase 2 trial reaches 12-month treatment timepoint in the AD3 cohort by year end (with interim results reported thereafter) | Q4 2025 |
| ACI-19764Small molecule NLRP3 inhibitor | IND/CTA filing | Q4 2025 |
| Morphomer-Tau aggregation inhibitors | Lead declaration and initiation of IND-enabling studies | Q4 2025 |
| Morphomer a-syn aggregation inhibitor | Lead declaration | Q4 2025 |
| TDP-43-PET tracer | Initial Phase 1 readout in genetic frontotemporal dementia (FTD) | Q4 2025 |
| ACI-15916a-syn-PET tracer | Phase 1 readout in Parkinson’s disease (PD) | Q4 2025 |
Analysis of Financial Statements for the Quarter Ended September 30, 2025
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® and Morphomer®, 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® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® 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.
For further information, please contact:
| SVP, Investor Relations & Corporate CommunicationsGary Waanders, Ph.D., MBAAC ImmunePhone: +41 21 345 91 91Email:gary.waanders@acimmune.com | |
| International MediaChris MaggosCohesion BureauPhone: +41 79 367 6254Email:chris.maggos@cohesionbureau.com |
Forward looking statements
This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement.
Condensed Consolidated Balance Sheets (Unaudited)(In CHF thousands)
| As of | ||||
| September 30, | December 31, | |||
| 2025 | 2024 | |||
| Assets | ||||
| Non-current assets | ||||
| Property, plant and equipment | 2,208 | 2,651 | ||
| Right-of-use assets | 4,653 | 5,437 | ||
| Intangible asset | 50,416 | 50,416 | ||
| Long-term financial assets | 584 | 415 | ||
| Total non-current assets | 57,861 | 58,919 | ||
| Current assets | ||||
| Prepaid expenses | 3,294 | 4,302 | ||
| Accrued income | 402 | 1,099 | ||
| Other current receivables | 1,582 | 1,104 | ||
| Short-term financial assets | 80,727 | 129,214 | ||
| Cash and cash equivalents | 27,741 | 36,275 | ||
| Total current assets | 113,746 | 171,994 | ||
| Total assets | 171,607 | 230,913 | ||
| Shareholders' equity and liabilities | ||||
| Shareholders’ equity | ||||
| Share capital | 2,240 | 2,226 | ||
| Share premium | 480,170 | 478,506 | ||
| Treasury shares | (218) | (218) | ||
| Currency translation differences | 3 | (5) | ||
| Accumulated losses | (419,751) | (368,239) | ||
| Total shareholders’ equity | 62,444 | 112,270 | ||
| Non-current liabilities | ||||
| Long-term deferred contract revenue | 2,700 | 4,560 | ||
| Long-term lease liabilities | 3,616 | 4,401 | ||
| Net employee defined benefit liabilities | 4,561 | 8,844 | ||
| Total non-current liabilities | 10,877 | 17,805 | ||
| Current liabilities | ||||
| Trade and other payables | 1,566 | 2,658 | ||
| Accrued expenses | 11,993 | 12,098 | ||
| Short-term deferred contract revenue | 83,682 | 85,056 | ||
| Short-term lease liabilities | 1,045 | 1,026 | ||
| Total current liabilities | 98,286 | 100,838 | ||
| Total liabilities | 109,163 | 118,643 | ||
| Total shareholders’ equity and liabilities | 171,607 | 230,913 |
Condensed Consolidated Statements of Income/(Loss) (Unaudited)(In CHF thousands, except for per-share data)
| For the Three Months | For the Nine Months | |||||||
| Ended September 30, | Ended September 30, | |||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| Revenue | ||||||||
| Contract revenue | 939 | 25,485 | 3,235 | 26,172 | ||||
| Total revenue | 939 | 25,485 | 3,235 | 26,172 | ||||
| Operating expenses | ||||||||
| Research & development expenses | (13,071) | (14,482) | (45,813) | (46,785) | ||||
| General & administrative expenses | (3,567) | (3,753) | (11,900) | (13,275) | ||||
| Other operating income/(expense), net | — | 19 | 21 | 128 | ||||
| Restructuring expenses, net | (467) | — | (467) | — | ||||
| Total operating expenses | (17,105) | (18,216) | (58,159) | (59,932) | ||||
| Operating income/(loss) | (16,166) | 7,269 | (54,924) | (33,760) | ||||
| Financial income | 366 | 939 | 1,512 | 2,307 | ||||
| Financial expense | (46) | (33) | (149) | (103) | ||||
| Exchange differences | (12) | (2,672) | (2,513) | (3,563) | ||||
| Finance result, net | 308 | (1,766) | (1,150) | (1,359) | ||||
| Income/(loss) before tax | (15,858) | 5,503 | (56,074) | (35,119) | ||||
| Income tax expense | — | — | — | — | ||||
| Income/(loss) for the period | (15,858) | 5,503 | (56,074) | (35,119) | ||||
| Income/(loss) per share: | ||||||||
| Basic income/(loss) per share for the period attributable to equity holders | (0.16) | 0.06 | (0.56) | (0.35) | ||||
| Diluted income/(loss) for the period attributable to equity holders | (0.16) | 0.05 | (0.56) | (0.35) |
Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited)(In CHF thousands)
| For the Three Months | For the Nine Months | |||||||
| Ended September 30, | Ended September 30, | |||||||
| 2025 | 2024 | 2025 | 2024 | |||||
| Loss for the period | (15,858) | 5,503 | (56,074) | (35,119) | ||||
| Items that will be reclassified to income or loss in subsequent periods (net of tax): | ||||||||
| Currency translation differences | (1) | 11 | 8 | 27 | ||||
| Items that will not to be reclassified to income or loss in subsequent periods (net of tax): | ||||||||
| Remeasurement gains on defined-benefit plans (net of tax) | 2,741 | — | 2,741 | — | ||||
| Other comprehensive income/(loss) | 2,740 | 11 | 2,749 | 27 | ||||
| Total comprehensive loss, net of tax | (13,118) | 5,514 | (53,325) | (35,092) |