AC Immune Reports Mixed 2025 Results, Highlights Parkinson’s Trial Progress
Event summary
- AC Immune reported CHF 91.4 million in cash reserves as of December 31, 2025, down from CHF 165.5 million a year earlier, extending runway to Q3 2027.
- Phase 2 interim results for ACI-7104 suggest potential slowing of Parkinson’s disease progression, with final data expected mid-2026.
- Company initiated Phase 1 trial for NLRP3 inhibitor ACI-19764, targeting neurodegenerative and inflammatory diseases.
- Reduced workforce by 30% to focus on key clinical-stage programs, cutting R&D expenses by CHF 6.1 million.
- Reported net loss of CHF 70.5 million for 2025, compared to CHF 50.9 million in 2024.
The big picture
AC Immune’s strategic pivot toward high-potential neurodegenerative programs comes amid intense competition in precision therapeutics. The company’s ability to secure non-dilutive funding through partnerships will be critical as it navigates a challenging biotech funding environment. The success of ACI-7104 and ACI-19764 could position AC Immune as a key player in disease modification, but execution risks remain high.
What we're watching
- Trial Outcomes
- Whether ACI-7104’s full 24-month data in Q3 2026 confirms disease-modifying potential in Parkinson’s.
- Cash Management
- The pace at which AC Immune burns through remaining CHF 91.4 million before potential milestone payments.
- Pipeline Focus
- How the company’s sharpened pipeline strategy impacts progress in Alzheimer’s and other neurodegenerative programs.