- The AC Immune SA (NASDAQ: ACIU) share price rose more than 9% before market today. That’s why it happened.
The share price of AC Immune SA (NASDAQ: ACIU) – a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases – has risen more than 9% before market today. Investors are responding positively to the company’s release of its financial results for the quarter ended September 30, 2021.
Here is an analysis of the financial statements for the quarter ended September 30, 2021.
– The company had a total cash balance of CHF 188.6 million, consisting of CHF 93.6 million in cash and cash equivalents and CHF 95.0 million in short-term financial assets. This compares to a total cash balance of CHF 225.9 million as of December 31, 2020. And the company’s cash balance provides enough capital resources to progress to at least Q1 2024 without taking into account payments of funds. ‘potential incoming step.
– The company did not record any contract income for the quarter ended September 30, 2021, a decrease of CHF 1.1 million compared to the comparable period of 2020. The overall decrease is mainly related to 1.1 million CHF of contract revenues associated with R&D activities in our agreement with Lilly which were recognized in 2020 and not repeated in the current period.
– R&D expenses decreased by CHF 0.4 million for the quarter ended September 30, 2021, to CHF 15.1 million.
– The company reduced its spending on various of its discovery and preclinical programs. And this was mainly due to a decrease in investment for alpha-synuclein antibody research and other discovery programs.
– The company increased its spending in several clinical programs, primarily for ACI-35-030, through shared R&D costs and increased patient enrollment in the Phase 1b / 2a study. This increase was offset as the company incurred less expense for ACI-24 for AD as the previous six-month security period ended.
– The costs related to the company’s salaries and benefits have increased mainly due to the internal reallocation of the salaries of certain employees and the annualization of 2020 hires.
– For the quarter ended September 30, 2021, general and administrative expenses increased from CHF 0.5 million to CHF 5.4 million. And this increase is mainly related to transaction costs incurred to complete the acquisition of assets for Affiris’ alpha-synuclein portfolio as well as other administrative elements.
– The company recognized CHF 0.3 million in grant income for R&D activities carried out under our Michael J. Fox Foundation for Parkinson’s Research (MJFF) and Target ALS grants, a decrease of CHF 0.2 million compared to the previous period.
– The company reported an after-tax net loss of CHF 15.9 million for the quarter ended September 30, 2021, compared to a net loss of CHF 19.0 million for the comparable period of 2020.
“AC Immune concluded an exceptional third quarter, marked by the acquisition of a clinical vaccine candidate α-syn in Parkinson’s disease and Lauriet Phase 2 data showing that semorinemab was the first Tau antibody candidate to slow down significantly. significant cognitive decline in mild to moderate cases. Patients with Alzheimer’s disease. Our partner Genentech, a member of the Roche group, will present the first data from Lauriet later this week at the CTAD 2021 conference, where we will present new clinical data on our vaccine candidates p-Tau and Abeta, ACI-35 and ACI- 24, respectively. These accomplishments demonstrate the commitment, progress and breadth of our leadership in the discovery and development of impactful therapies for neurodegenerative diseases. “
– Prof. Andrea Pfeifer, CEO of AC Immune SA
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