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AC Immune (ACIU) investor relations material
AC Immune Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary5 Aug, 2025
Executive summary
Three active immunotherapies for neurodegeneration are advancing through Phase 2 trials, with key interim results expected in H2 2025 and early 2026.
Strong cash position of CHF 127.1 million (USD 157.6 million) as of June 30, 2025, funding operations into Q1 2027, excluding milestone payments.
Early-stage pipeline progress includes IND-enabling studies for a novel NLRP3 inhibitor and multiple programs targeting misfolded proteins.
Financial highlights
Cash and short-term financial assets totaled CHF 127.1 million at June 30, 2025, down from CHF 165.5 million at year-end 2024.
Contract revenues for Q2 2025 were CHF 1.3 million, up from CHF 0.7 million in Q2 2024, mainly from a Takeda agreement.
R&D expenses for Q2 2025 were CHF 16.8 million, slightly lower year-over-year due to reduced early-stage activity and lower ACI-7104.056 costs.
G&A expenses decreased by CHF 0.7 million to CHF 3.9 million, mainly due to lower legal fees.
Net loss for Q2 2025 was CHF 21.2 million, compared to CHF 22.8 million in Q2 2024.
Outlook and guidance
Further interim results from the VacSYn trial of ACI-7104.056 are expected in H2 2025, with potential initiation of Part 2 based on pharmacodynamic and biomarker data.
The AD3 cohort in the ABATE trial of ACI-24.060 will reach 12 months of treatment by year-end 2025, with interim results expected early 2026.
IND filing for ACI-19764 (NLRP3 inhibitor) anticipated in H2 2025.
Multiple early-stage milestones expected in H2 2025, including clinical and preclinical readouts for several pipeline assets.
VacSYn Part 2 decision criteria?
What drove R&D shifts in Q2 2025?
Quantify potential milestone payments for 2025-2027.
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Q3 202531 Oct, 2025
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Frequently asked questions
AC Immune SA is a clinical-stage biopharmaceutical company that specializes in precision medicine for neurodegenerative diseases, such as Alzheimer's disease, Parkinson's disease, and NeuroOrphan diseases. These candidates target the misfolded proteins associated with these diseases, aiming to diagnose, treat, and prevent neurodegeneration. AC Immune SA is headquartered in Lausanne, Switzerland, and its shares are listed on the Nasdaq.
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