AC Immune SA (ACIU), a clinical-stage biopharmaceutical company, on Thursday reported slightly higher revenue and trimmed its net loss for the first quarter. It also provided updates on all pharmaceutical candidates currently in the pipeline.
Q1 Financial Results:
AC Immune reported net loss of CHF 14.8 million for the three-month period, narrower than CHF 19.0 million loss it reported for the corresponding period last year on decreased Research and Development Expenses.
Research and Development (R&D) expenses for the period was CHF 11.8 million, lesser than CHF 15.9 million it recorded last year.
Pharmaceutical Updates:
The company reported dosing of the final cohort in the Phase 1b/2 ABATE trial for ACI-24 in treating Alzheimer's disease. The company is eligible to receive a $12 million milestone payment from Takeda pharmaceuticals.
The Morphomer Tau small molecule program was advanced with Eli Lilly & Co., and is eligible to receive a CHF 10 million upfront payment, and up to CHF 1.7 billion in milestone payments through development and commercialization of the product. Investigational new drug (IND) -enabling studies for the program are expected to be initiated imminently.
Interim results were released from the Part 1 of Phase 2 VacSYn trial for ACI-704 in treating Parkinson's disease, and the full 104-Week data release is scheduled for the second half of this year.
ACI-19764 is a brain-penetrating small molecule morphomer targeting the NLRP3 inflammasome for treating Parkinson's disease (PD), Alzheimer's disease (AD), and frontal-temporal dementia (FTD), had Phase 1 dosing trials initiated.
JNJ-2056, or ACI-35, developed in partnership with Janssen Pharmaceuticals Inc., will be evaluated for biological activity as AC Immune seeks a protocol amendment for the ReTrain study.
The TDP-43 positron emission tomography (PET) tracer was evaluated using Phase 1 in vivo images, and shows uptake in brain models with FTD and amylotrophic lateral sclerosis (ALS). The tracer is currently under studies to generate a pharmokinetic profile.
ACIU closed Thursday at $3.03, up 3.41%. In the overnight market, shares are trading at $3.12, up 2.97%.
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