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AC Immune Shares Surge 70% On Positive Results From Alzheimer's Drug Trial

Shares of AC Immune SA (ACIU) are surging over 70% on Tuesday morning after the Swiss clinical-stage biopharmaceutical company announced positive results from mid-stage trial in older patients with early Alzheimer's disease.

ACIU is currently trading at $12.01, up $5.02 or 71.82%, on the Nasdaq, on a volume of 40.8 million shares, far above average volume of 0.5 million shares. The stock has traded between $4.42 and $12.61 in the 52 week period.

The top-line data from phase 2 trial of semorinemab in mild-to-moderate Alzheimer's disease shows a statistically significant reduction on one of two co-primary endpoints, ADAS-Cog11.

The second co-primary endpoint, ADCS-ADL, was not met. Safety data showed that semorinemab is well tolerated with an acceptable safety profile and no unanticipated safety signals.

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