AC Immune Q1 2024 Financial Results and Corporate Update

AC Immune SA, a clinical-stage biopharmaceutical company from Lausanne, Switzerland, has announced its financial results for the first quarter of 2024 and provided a corporate update. The company is at the forefront of developing precision medicine for neurodegenerative diseases like Alzheimer's and Parkinson's.

A significant development for AC Immune is their collaboration agreement with Takeda. This deal involves advancing ACI-24.060, an anti-Abeta active immunotherapy for Alzheimer’s disease. The agreement stipulates an upfront payment of $100 million from Takeda, with potential total payments reaching approximately $2.1 billion, contingent on future milestones and the option exercise fee. This collaboration combines AC Immune’s expertise in neuroscience with Takeda’s development and commercial capabilities, aiming to make significant strides in Alzheimer’s treatment.

Dr. Andrea Pfeifer, CEO of AC Immune, expressed excitement over the partnership with Takeda, emphasizing the synergistic potential to lead the field in Precision Prevention for Alzheimer's. The company anticipates reporting initial data on amyloid plaque reduction from the Phase 2 trial of ACI-24.060 in the second quarter of 2024. This data could be pivotal in advancing the drug to a registrational study.

Additionally, AC Immune is progressing with its other key programs. The Phase 2b trial for ACI-35.030 (anti-phospho-Tau active immunotherapy) in pre-symptomatic Alzheimer’s patients, conducted in collaboration with Janssen, is advancing. Their wholly-owned anti-alpha-synuclein active immunotherapy, ACI-7104.056, is in Phase 2 trials for Parkinson’s disease, with safety and immunogenicity data expected in the latter half of 2024.

Financially, AC Immune is in a strong position, ending the first quarter with CHF 104.8 million in cash, supplemented by the imminent $100 million from Takeda. This financial robustness ensures a three-year runway for the company’s operations. The company’s R&D expenditures for the period were CHF 15.2 million, up from CHF 13.9 million in the same period last year, primarily due to increased clinical activity for the ACI-24.060 program. AC Immune reported a net loss of CHF 17.9 million for the three months ending March 31, 2024, slightly higher than the CHF 17.5 million loss reported in the same period in 2023.

AC Immune's diverse pipeline is built on two technology platforms, SupraAntigen® and Morphomer®, and includes sixteen therapeutic and diagnostic programs. Beyond Alzheimer’s and Parkinson’s, these platforms are utilized to tackle various neurodegenerative diseases. The company has a commendable track record of forming strategic partnerships with leading pharmaceutical firms, securing substantial non-dilutive funding and potential milestone payments exceeding $4.5 billion.

The upcoming milestones for 2024 include interim data from ongoing clinical trials and the initiation of new studies, which will continue to shape the company’s trajectory in neurodegenerative disease treatment. These steps are designed to build on AC Immune’s comprehensive pipeline, aimed at addressing significant unmet needs in neurodegenerative diseases through innovative precision medicine approaches.

In summary, AC Immune’s first quarter of 2024 showcases significant strategic advancements, robust financial health, and a promising outlook for its pipeline programs. The collaboration with Takeda stands out as a landmark deal that could potentially transform the landscape of Alzheimer’s treatment, reinforcing AC Immune’s position as a leader in the field of neurodegenerative disease research and development.