ACIU Stock — AC Immune SA: Cash, EV, Pipeline

What they do

Our business is subject to economic, political, regulatory and other risks associated with international operations. Our business is subject to risks associated with conducting business internationally. We and a number of our suppliers and collaborative and clinical study relationships are located outside the U.S.

Source: 20-F FY2025 via SEC EDGAR

Share price

$2.23

Market cap

$227.0M

Cash

$32.5M

Enterprise value

$194.5M

Balance sheet

Cash	$32.5M
Debt	$0.0M
Net cash	$32.5M
Enterprise value	$194.5M
Basic shares	101.8M shares
Fully diluted shares	108.0M shares
Fully diluted market cap	$240.9M
Cash per share	$0.32

Cash figures as of 2025-12-31. Database snapshot: 2026-11-07.

Share structure

Common

101.7M

Pre-funded warrants

0.0M

Options

5.5M

RSUs

0.8M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

108.0M

Cap table as of 2025-12-31.

Price history

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Next catalyst

ACI-19764 · Est. Nov 7, 2026 · half midpoint · guided Now

Recently reported

ACI-7104.056 at Dose A Phase 2 Positive · 2026-09-23

ACI-7104 · parkinson disease, parkinson disease 6, early-onset

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
GUIDEDEst. Nov 7, 2026 Now half midpoint	ACI-19764 Phase 1 trial in healthy volunteers, results · NCT07463196	Phase 1	healthy volunteers	H2 2026
GUIDEDEst. Nov 7, 2026 Now half midpoint	ACI-19764 Phase 1b patient cohort, results · NCT07463196	Phase 1b	Not disclosed	H2 2026
Jan 12 - Feb 23 in 9 wks	ACI-19764 at dose A1	Phase 1	Healthy Participants; Obesity; Type 2 Diabetes Mellitus (T2DM)	—
May 13 - Jun 24 in 31 mo	ACI-24.060 at Dose A in Study Part 1a	Phase 2	Amyloid Plaque; Beta-Amyloid; DSAD	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

ACI-35.030

Stage not disclosed · Active Modality: active immunotherapy

Target pTau (phosphorylated Tau)

Status note Described as a clinical product candidate; FDA Fast Track designation. The filing states no per-asset phase, indication, or target.

ACI-24.060

Stage not disclosed · Active Modality: active immunotherapy

Target Abeta (amyloid-beta)

Indications

Amyloid Plaque (Phase 2)
Beta-Amyloid (Phase 2)
DSAD (Phase 2)

Status note Described as a clinical product candidate; FDA Fast Track designation. The filing states no per-asset phase, indication, or target.

ACI-7104.056

Stage not disclosed · Active Modality: active immunotherapy

Target alpha-synuclein

Indications

Parkinson's disease (PD) (Stage not disclosed)

Status note Described as a clinically-validated active immunotherapy candidate targeting alpha-synuclein for Parkinson's disease, acquired via the 2021 Affiris portfolio purchase. The filing states no per-asset phase.

ACI-19764

Stage not disclosed · Active Modality: small molecule

Target NLRP3

Indications

Obesity (Phase 1)
Type 2 Diabetes Mellitus (T2DM) (Phase 1)

Status note Described as an NLRP3 inhibitor small molecule drug program, retained after the September 2025 restructuring. The filing states no per-asset phase or indication.

Morphomer Tau

Preclinical · Active Modality: small molecule

Target tau

Status note Described as a small molecule drug program retained after the September 2025 restructuring; no clinical data stated.

Morphomer-a-syn

Preclinical · Active Modality: small molecule

Target alpha-synuclein

Status note Described as a small molecule drug program retained after the September 2025 restructuring; no clinical data stated.

PI-2620

Stage not disclosed · Active Modality: PET tracer diagnostic

Target tau

Status note Described as a Tau-PET tracer clinical product candidate; FDA Fast Track designation. No per-asset phase stated.

ACI-12589

Stage not disclosed · Active Modality: PET tracer diagnostic

Target alpha-synuclein

Status note Described as an alpha-synuclein PET tracer clinical product candidate. No per-asset phase stated.

ACI-15916

Stage not disclosed · Active Modality: PET tracer diagnostic

Target alpha-synuclein

Status note Described as an alpha-synuclein PET tracer clinical product candidate. No per-asset phase stated.

ACI-19626

Stage not disclosed · Active Modality: PET tracer diagnostic

Target TDP-43

Status note Described as a TDP-43-PET tracer clinical product candidate. No per-asset phase stated.

Per-asset detail extracted from the 20-F filed 2026-03-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

No lead program on file for this company.

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT06015841	Phase 2	Active, not recruiting	Sponsor	ACIU	—	Parkinson Disease; Parkinson Disease 6, Early-Onset	H2 2026 Est. Nov 7, 2026 · half midpoint
NCT05462106	Phase 2	Recruiting	Sponsor	ACIU	—	Amyloid Plaque; Beta-Amyloid; DSAD	—
NCT07463196	Phase 1	Recruiting	Sponsor	ACIU	—	Healthy Participants; Obesity; Type 2 Diabetes Mellitus (T2DM)	H2 2026 Est. Nov 7, 2026 · half midpoint H2 2026 Est. Nov 7, 2026 · half midpoint
NCT06891716	Early Phase 1	Recruiting	Sponsor	ACIU	—	Frontotemporal Dementia (FTD); Amyotrophic Lateral Sclerosis (ALS); TDP-43 Proteinopathies	—
NCT06891703	Early Phase 1	Recruiting	Sponsor	ACIU	—	Parkinson's Disease (PD); Multiple System Atrophy (MSA); Dementia With Lewy Bodies (DLB)	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 5 active trials for AC Immune SA on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
BVF Partners	19,822,436	no change	1.21%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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ACIU — AC Immune SA ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Active clinical trials

Specialist fund holders

Latest news

ACIU — AC Immune SA