AC Immune Q2 2025 Earnings: Revenue Up 90%, Net Loss Narrowed

AC Immune reported Q2 2025 revenue of CHF1.31m, up 90% YoY, but missed analyst estimates by 34%. Net loss narrowed by 6.9% to CHF21.2m, and EPS improved to CHF0.21. The company's shares are up 4.3% from a week ago. Revenue is forecast to grow 46% p.a. on average over the next 3 years, compared to an 18% growth forecast for the Biotechs industry in the US.

AC Immune (NASDAQ: ACIU) reported its second-quarter 2025 financial results, showing revenue growth of 90% year-over-year (YoY) to CHF 1.31 million, but falling short of analyst estimates by 34%. The company reported a net loss of CHF 21.2 million, a 6.9% improvement from the same period last year. Earnings per share (EPS) improved to CHF 0.21. The company's shares have risen by 4.3% from a week ago. Revenue is forecast to grow at an average annual rate of 46% over the next three years, compared to an 18% growth forecast for the US biotechs industry.

Key highlights from the quarter include positive interim results from the Phase 2 VacSYn trial of ACI-7104.056 for Parkinson's disease, which showed a 20-fold increase in anti-α-syn antibodies. The company maintains a strong cash position with CHF 127.1 million, providing a runway into Q1 2027. AC Immune's lead candidate, ACI-7104.056, demonstrated encouraging preliminary efficacy with a 20-fold increase in α-synuclein antibodies after just four immunizations. The company's three active immunotherapies in Phase 2 development, including ACI-24.060 for Alzheimer's disease, and their NLRP3 inhibitor program (ACI-19764) have advanced to IND-enabling studies.

The company's Q2 financial results showed contract revenues of CHF 1.3 million and a net loss of CHF 21.2 million, improved from CHF 22.8 million in Q2 2024. R&D expenses were CHF 16.8 million, and general and administrative (G&A) costs were CHF 3.9 million. AC Immune's strategy focuses on precision prevention through a diversified approach targeting key proteins in neurodegeneration (α-synuclein, Abeta, tau, TDP-43). The company expects multiple data readouts in H2 2025, including interim results from the Phase 2 VacSYn trial.

AC Immune's immunotherapy pipeline shows promising progress with strong early immunogenicity data in neurodegenerative diseases. The company's expansion into small molecule NLRP3 inhibition with ACI-19764 now in IND-enabling studies represents a strategic broadening of their therapeutic approach. The company's diagnostic portfolio, including PET tracers for TDP-43 and α-synuclein, complements their therapeutic pipeline by potentially enabling earlier and more precise diagnosis.

While clinical outcomes data remains pending, the immunogenicity and safety profile observed thus far provide an encouraging signal. The multiple readouts expected in H2 2025 will be critical in determining whether these strong immune responses translate to meaningful clinical benefits in slowing disease progression.

References:
[1] https://www.stocktitan.net/news/ACIU/ac-immune-reports-second-quarter-2025-financial-results-and-provides-ca9z4a2du2fq.html