AC Immune reports Q1 EPS (18c), consensus (15c)

The company’s cash balance provides sufficient capital resources for at least three years, when including the upfront payment of $100M from Takeda, and assuming the potential milestone payment of CHF24.6M related to achieving an undisclosed enrolment target for our ACI-35.030, and no other milestones. CEO Andrea Pfeifer commented: “We are thrilled to have announced today our agreement with Takeda to advance ACI-24.060 anti-Abeta active immunotherapy in Alzheimer’s disease…We remain on track to report the first Phase 2 data this quarter on amyloid plaque reduction…This is a potentially de-risking event for ACI-24.060 that could enable advancement into a registrational study. We continue to make strong progress elsewhere in our pipeline. Our partner Janssen continues to push ahead with the launch of the Phase 2b trial, ReTain, evaluating ACI-35.030, our anti-phospho-Tau active immunotherapy, in patients with pre-symptomatic AD. At the same time, our wholly-owned anti-alpha-synuclein active immunotherapy, ACI-7104.056, is advancing through Phase 2 testing to treat Parkinson’s disease, with safety and immunogenicity updates expected in the second half of 2024. Any of these three studies could be transformational for treatment of patients with neurodegenerative disease. With our significantly strengthened financial position, we are well-positioned to achieve our clinical development milestones across our pipeline through 2024 and beyond.”