AC Immune SA (ACIU) stock soared in the pre-market trading after it announced First Positive Cognitive Results for a Tau-Targeting Monoclonal Antibody in Alzheimer’s Disease. ACIU stock price saw a surge of 73.25% to reach $12.11 a share at the time of this writing. The stock was also green in the previous trade and went up by 0.72% at closing. Let’s deep dive to explore more of it.
What’s Happening?
AC Immune SA is Switzerland-based biopharmaceutical stock incorporated in 2003. It is developing and designing therapeutics and diagnostic products to prevent and treat neurodegenerative diseases associated with protein misfolding. Recent news states that Roche Group’s member Genentech has informed AC Immune that Lauriet met one of its co-primary endpoints, ADAS-Cog11. Lauriet is the placebo-controlled study that evaluates the safety and efficacy of semorinemab against mild-to-moderate Alzheimer’s disease (AD). The study did not meet the second co-primary endpoint, ADCS-ADL. The cognitive decline from baseline reduced by 43.6% due to Semorinemab, compared to placebo (p<0.0025). According to the study data, semorinemab showed well tolerance and the safety profile was acceptable having no unanticipated safety signals.
Financial View of ACIU stock:
In the second quarter ended June 30, 2021, ACIU stock spent CHF 13.7 million in research and development expenses. The stock increased its discovery and pre-clinical expenses while decreased clinical expenses. Salary and benefit-related costs increased in the second quarter of 2021. General and administrative expenses were 5.2 million in the second quarter of 2021.
The cash balance of ACIU stock was CHF 199.1 million by the end of the second quarter of 2021. The cash balance comprised of cash and cash equivalents CHF 104.1 million and short-term financial assets of CHF 95.0 million
ACIU stock presented Full Phase 1b Results on Anti-Abeta Vaccine:
On July 26, 2021, ACIU presented full phase 1b results on Anti-Abeta Vaccine AAIC 2021 and discussed First-in-Class Diagnostic for Parkinson’s Disease. According to the study results, ACI-24 showed well tolerance and safety profile in adults with DS. The study team observed no serious events during the study. ACI-24 increased the immune response that correlated with increases in plasma Abeta.
Wrap Up:
ACIU stock captivated investors after the release of topline data of Lauriet Phase 2 trial of semorinemab in mild-to-moderate AD. The management is now looking forward to getting additional data from its other clinical-stage Tau programs. ACIU stock performed well in 2021 so far as it gained 31.39% year to date.