AC Immune SA 6-K, filed Jul 28, 2022

AC Immune SA (ACIU)

6-K 2022-07-28 For: 2022-07-28

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Added on April 09, 2026

About this 6-K

AC Immune SA filed this 6-K on July 28, 2022.

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AC IMMUNE SA


By:	/s/ Andrea Pfeifer
	Name:	Andrea Pfeifer
	Title:	Chief Executive Officer


By:	/s/ Joerg Hornstein
	Name:	Joerg Hornstein
	Title:	Chief Financial Officer

Exhibit Number	Description
99.1	Interim Condensed Consolidated Financial Statements (Unaudited) (IFRS) as of and for the three and six months ended June 30, 2022
99.2	Management’s Discussion and Analysis of Financial Condition and Results of Operations
99.3	Press Release dated July 28, 2022

Balance Sheets	Notes	As of June 30, 2022			As of December 31, 2021
ASSETS
Non-current assets
Property, plant and equipment	5		4,997			5,116
Right-of-use assets	6		2,632			2,914
Intangible asset	9		50,416			50,416
Long-term financial assets	6		361			363
Total non-current assets			58,406			58,809

Current assets
Prepaid expenses	10		3,465			3,015
Accrued income	3		433			975
Other current receivables			335			428
Short-term financial assets	11		91,000			116,000
Cash and cash equivalents	11		63,147			82,216
Total current assets			158,380			202,634
Total assets			216,786			261,443

SHAREHOLDERS’ EQUITY AND LIABILITIES

Shareholders’ equity
Share capital			1,796			1,794
Share premium			431,260			431,251
Treasury shares	12		(124	)		(124	)
Currency translation differences			49			—
Accumulated losses			(230,169	)		(200,942	)
Total shareholders’ equity			202,812			231,979

Non-current liabilities
Long-term lease liabilities	6		2,050			2,340
Net employee defined benefit liabilities	7		—			7,098
Total non-current liabilities			2,050			9,438

Current liabilities
Trade and other payables			337			2,003
Accrued expenses	8		10,585			16,736
Deferred income	3		425			717
Short-term lease liabilities	6		577			570
Total current liabilities			11,924			20,026
Total liabilities			13,974			29,464
Total shareholders’ equity and liabilities			216,786			261,443

		For the Three Months Ended June 30,						For the Six Months Ended June 30,
	Notes	2022			2021			2022			2021
Revenue
Contract revenue	3		—			—			—			—
Total revenue			—			—			—			—

Operating expenses
Research & development expenses			(15,692	)		(13,710	)		(30,815	)		(27,040	)
General & administrative expenses			(4,374	)		(5,235	)		(8,550	)		(9,573	)
Other operating income/(expense)	3		207			256			677			673
Total operating expenses			(19,859	)		(18,689	)		(38,688	)		(35,940	)
Operating loss			(19,859	)		(18,689	)		(38,688	)		(35,940	)

Financial income			—			—			—			—
Financial expense			(126	)		(202	)		(279	)		(228	)
Exchange differences			345			(178	)		485			365
Finance result, net	13		219			(380	)		206			137

Loss before tax			(19,640	)		(19,069	)		(38,482	)		(35,803	)
Income tax expense			(3	)		—			(7	)		—
Loss for the period			(19,643	)		(19,069	)		(38,489	)		(35,803	)

Loss per share:	4
Basic and diluted loss for the period attributable to equity holders			(0.23	)		(0.26	)		(0.46	)		(0.50	)

Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited)		For the Three Months ended June 30,						For the Six Months ended June 30,
(in CHF thousands)	Notes	2022			2021			2022			2021

Loss for the period			(19,643	)		(19,069	)		(38,489	)		(35,803	)
Items that will be reclassified to income or loss in subsequent periods (net of tax):
Currency translation differences			39			—			49			—
Items that will not to be reclassified to income or loss in subsequent periods (net of tax):
Remeasurement gains on defined-benefit plans (net of tax)	7		7,381			—			7,381			—
Total comprehensive loss, net of tax			(12,223	)		(19,069	)		(31,059	)		(35,803	)

	Notes	Share capital		Share premium		Treasury shares			Accumulated losses			Currency Translation Differences		Total
Balance as of January 1, 2021			1,538		346,890		(100	)		(132,850	)		—		215,478
Net loss for the period			—		—		—			(35,803	)		—		(35,803	)
Other comprehensive income/(loss)			—		—		—			—			—		—
Total comprehensive loss			—		—		—			(35,803	)		—		(35,803	)
							—						—
Share-based payments			—		—		—			1,694			—		1,694
Proceeds from sale of treasury shares in public offerings, net of underwriting fees and transaction costs			—		7,825		15			—			—		7,840
Issuance of shares, net of transaction costs:
restricted share awards			1		104		—			(112	)		—		(7	)
exercise of options			—		80		—			—			—		80
Balance as of June 30, 2021			1,539		354,899		(85	)		(167,071	)		—		189,282

in CHF thousands	Balance at the beginning of the reporting period		Additions		Deductions			Balance at the end of the reporting period
Six months ended June 30, 2022:
Accrued income		975		602		(1,144	)		433
Deferred income		717		359		(651	)		425

Six months ended June 30, 2021:
Accrued income		1,591		781		(1,652	)		720
Deferred income		306		781		(678	)		409

	For the Three Months Ended June 30,
in CHF thousands except for share and per share data	2022			2021
Loss per share (EPS)
Numerator
Net loss attributable to equity holders of the Company		(19,643	)		(19,069	)
Denominator
Weighted-average number of shares outstanding used to compute EPS basic and diluted attributable to equity holders		84,462,675			72,715,783
Basic and diluted loss per share for the period attributable to equity holders		(0.23	)		(0.26	)

	As of June 30, 2022
in CHF thousands	Furniture			IT Equipment			Lab Equipment			Leasehold Improvements			Assets Under Construction			Total
Acquisition Cost
Balance at December 31, 2021		263			1,756			9,142			810			695			12,666
Additions		17			81			528			38			110			774
Transfers		—			4			18			7			(29	)		—
Balance at June 30, 2022		280			1,841			9,688			855			776			13,440

Accumulated depreciation
Balance at December 31, 2021		(106	)		(1,316	)		(5,739	)		(389	)		—			(7,550	)
Depreciation expense		(25	)		(143	)		(657	)		(68	)		—			(893	)
Balance at June 30, 2022		(131	)		(1,459	)		(6,396	)		(457	)		—			(8,443	)

Carrying Amount
December 31, 2021		157			440			3,403			421			695			5,116
June 30, 2022		149			382			3,292			398			776			4,997

in CHF thousands	Buildings			Office Equipment			IT Equipment			Total
Balance as of December 31, 2021		2,776			98			40			2,914
Depreciation		(262	)		(12	)		(8	)		(282	)
Balance as of June 30, 2022		2,514			86			32			2,632

	For the Three Months Ended June 30,
in CHF thousands	2022	2021
Statements of income/(loss)
Depreciation of right-of-use assets	141	119
Interest expense on lease liabilities	18	15
Expense for short-term leases and leases of low value	173	169
Total	332	303

Statements of cash flows
Total cash outflow for leases	333	303

	For the Six Months Ended June 30,
in CHF thousands	2022		2021
Statements of income/(loss)
Depreciation of right-of-use assets		282		225
Interest expense on lease liabilities		36		30
Expense for short-term leases and leases of low value		347		356
Total		665		611

Statements of cash flows
Total cash outflow for leases		666		611

in CHF thousands	As of June 30, 2022
Less than one year		638
1-3 years		1,245
3-5 years		900
Total		2,783

	As of
in CHF thousands	June 30, 2022		December 31, 2021
Accrued Expenses		10,585		16,736
Total		10,585		16,736

	As of June 30, 2022						As of December 31, 2021
In CHF thousands	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Acquired IPR&D Asset		50,416		—		50,416		50,416		—		50,416
Total Intangible Assets		50,416		—		50,416		50,416		—		50,416

	As of
in CHF thousands	June 30, 2022		December 31, 2021
Cash and cash equivalents		63,147		82,216
Total		63,147		82,216

	For the Three Months Ended June 30,
in CHF thousands, unaudited	2022		2021		Change
Discovery and preclinical expenses		4,405		4,932		(527	)
Clinical expenses		3,326		2,958		368
Group function expenses		338		141		197
Total Direct R&D		8,069		8,031		38
Payroll expenses		4,743		4,021		722
Share-based compensation		362		328		34
Other non-allocated		2,518		1,330		1,188
Total R&D		15,692		13,710		1,982

ACI-12589 a-syn-PET tracer	Reported breakthrough results from first-in-human study at AD/PD™ 2022 conference
ACI-35.030 anti-pTau vaccine	Reported Phase 1b/2a interim analysis from highest dose group; Expect to disclose late-stage development plans in H2 2022
ACI-24.060 anti-Abeta vaccine	Dosed first patient in Phase 1b/2 trial of ACI-24.060 in patients with AD and individuals with DS Phase 1b in AD readout and decision to move into DS expected in H2 2022
Crenezumab anti-Abeta antibody	Reported top line Phase 2 results from API study in autosomal dominant AD .
Semorinemab anti-Tau antibody	Additional biomarker data from the Phase 2 Lauriet study in mild-to-moderate AD expected in H2 2022
PI-2620 Tau-PET tracer	Phase 2 results in AD to be unveiled at AAIC in San Diego, California (United States) and online, July 31 – August 4, 2022. Clinical PET study readout in orphan indication expected in H2 2022
ACI-7104 anti-a-syn vaccine	Initiation of Phase 2 trial in early PD expected in H2 2022

Media Relations Saoyuth Nidh AC Immune Phone: +41 21 345 91 34 Email: saoyuth.nidh@acimmune.com	Investor Relations Gary Waanders, Ph.D., MBA AC Immune Phone: +41 21 345 91 91 Email: gary.waanders@acimmune.com

U.S. Media Shani Lewis LaVoieHealthScience Phone: +1 609 516 5761 Email: slewis@lavoiehealthscience.com	U.S. Investors Corey Davis, Ph.D. LifeSci Advisors Phone: +1 212 915 2577 Email: cdavis@lifesciadvisors.com

	As of June 30, 2022			As of December 31, 2021
ASSETS
Non-current assets
Property, plant and equipment		4,997			5,116
Right-of-use assets		2,632			2,914
Intangible asset		50,416			50,416
Long-term financial assets		361			363
Total non-current assets		58,406			58,809
Current assets
Prepaid expenses		3,465			3,015
Accrued income		433			975
Other current receivables		335			428
Short-term financial assets		91,000			116,000
Cash and cash equivalents		63,147			82,216
Total current assets		158,380			202,634
Total assets		216,786			261,443

SHAREHOLDERS’ EQUITY AND LIABILITIES
Shareholders’ equity
Share capital		1,796			1,794
Share premium		431,260			431,251
Treasury shares		(124	)		(124	)
Currency translation differences		49			—
Accumulated losses		(230,169	)		(200,942	)
Total shareholders’ equity		202,812			231,979

Non-current liabilities
Long-term lease liabilities		2,050			2,340
Net employee defined-benefit liabilities		—			7,098
Total non-current liabilities		2,050			9,438

Current liabilities
Trade and other payables		337			2,003
Accrued expenses		10,585			16,736
Deferred income		425			717
Short-term lease liabilities		577			570
Total current liabilities		11,924			20,026
Total liabilities		13,974			29,464
Total shareholders’ equity and liabilities		216,786			261,443

	For the Three Months Ended June 30,						For the Six Months Ended June 30,
In CHF thousands, except for share and per share data	2022			2021			2022			2021
Loss		(19,643	)		(19,069	)		(38,489	)		(35,803	)
Adjustments
Non-cash share-based payments¹		898			836			1,886			1,694
Foreign currency (gains)/losses²		(430	)		258			(683	)		(363	)
Transaction costs³		—			410			—			410
Adjusted Loss		(19,175	)		(17,565	)		(37,286	)		(34,062	)

Loss per share – basic and diluted		(0.23	)		(0.26	)		(0.46	)		(0.50	)
Adjustment to loss per share – basic and diluted		—			0.02			0.01			0.03
Adjusted loss per share – basic and diluted		(0.23	)		(0.24	)		(0.45	)		(0.47	)
Weighted-average number of shares outstanding Adjusted loss –basic and diluted		84,462,675			72,715,783			83,510,567			72,113,581