AC Immune (ACIU) Q3 2026 earnings summary

Executive summary

• ACI-7104 reported positive Part 1 week-100 safety and immunogenicity results in Phase 2 VacSYn; the program also received FDA Fast Track designation and IND clearance.

• A lead Morphomer small-molecule candidate targeting alpha-synuclein was selected and entered preclinical development; ACI-19764 Phase 1 results showed safety, tolerability and CSF penetration.

Financial highlights

• Q3 2026 revenue was CHF 3.244M vs CHF 0.939M in Q3 2025, reflecting Takeda arrangement revenue, including additional consideration for the AD4 Cohort.

• Q3 R&D expense was CHF 9.853M vs CHF 13.071M; lower personnel, operational and discovery/preclinical spending partly offset a CHF 1.0M net increase in clinical program costs.

• Q3 G&A expense was CHF 3.522M vs CHF 3.567M; operating loss narrowed to CHF 9.801M from CHF 16.166M, and net loss narrowed to CHF 8.750M from CHF 15.858M.

• 9M 2026 revenue was CHF 19.476M vs CHF 3.235M; operating loss was CHF 23.397M vs CHF 54.924M, and net loss was CHF 21.678M vs CHF 56.074M.

Outlook and guidance

• Cash resources are expected to fund operations into Q1 2028, excluding potential milestone payments.

• ACI-7104 antibody characterization, including alpha-synuclein binding properties, was anticipated before year-end 2026; FDA discussions on the future development path were planned for early 2027.

• Initial ACI-19764 Phase 1b results in patients with elevated hsCRP were expected in early 2027.