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Stock Alert: AC Immune Hits New 52-week High

Shares of Switzerland-based AC Immune SA (ACIU) are surging more than 68 percent or $4.93 in Thursday's morning trade at $12.12, after earlier touching a new 52-week high of $13.00.

Thursday, AC Immune said it has initiated the second highest dosing group in its Phase 1b/2a clinical trial evaluating ACI-35.030 for the treatment of Alzheimer's disease or AD.

The clinical-stage biopharmaceutical company said that the decision to advance to the higher dosing group follows encouraging interim safety, tolerability and immunogenicity results from the initial dosing group.

ACI-35.030, which is being developed by AC Immune in collaboration with Janssen Pharmaceuticals, Inc., is the first AD vaccine candidate designed to generate a specific antibody response against pathologic phospho-Tau (pTau) proteins in the brain.

AC Immune has traded in a range of $4.07 to $13.00 in the past 52 weeks.

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