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SEC Filings

6-K
AC IMMUNE SA filed this Form 6-K on 03/17/2017
Entire Document
 

 

General and Administrative (G&A) Expenses

G&A expenses amounted to CHF 7.9 million in the twelve months ended December 31, 2016, compared with CHF 3.4 million in the same period in 2015.   The increase in G&A expenses is largely related to higher professional service costs, such as legal costs, associated with the Company becoming a public company, as well as remuneration expenses.

 

Income / (loss) for the period  

For the twelve months ended December 31, 2016, AC Immune had a net loss of CHF 7.1 million compared with a profit of CHF 20.3 million in the twelve months period ended December 31, 2015. The decline in profitability is mostly attributable to the decline in revenues and increased R&D and G&A expenses outlined above.

 

Balance Sheet 

As at December 31, 2016, AC Immune had total cash of CHF 152.2 million which includes CHF 69.4 million in net proceeds, prior to transaction costs, received from the sale of 6.9 million shares at $11.00 per share in the Company’s IPO on the NASDAQ in September 2016. Earlier in 2016, the Company also completed its Financing Round E which raised CHF 42.7 million.

 

Share Capital 

The total shareholders’ equity increased to CHF 142.4 million as at December 31, 2016, reflecting the issuance of new shares for the IPO.

 

On December 31, 2016 the Company had approximately 56.8 million common shares outstanding, which includes the issuance of 6.9 million common shares as part of the September IPO.

 

For a more detailed review of our financial performance, please refer to “Item 5. Operating and Financial Review and Prospects” in our Annual Report on Form 20-F filed today with the U.S. Securities and Exchange Commission and on our website under the tab labelled “Investors - Financial Information”.

 

Full Year 2016 Highlights of R&D Programs 

Crenezumab – anti-Abeta antibody for Alzheimer’s disease (AD) partnered with Genentech in Phase 3 

§At the Clinical Trials on Alzheimer’s Disease (CTAD) meeting our partner Genentech presented results from a Phase 1b dose-escalation study and an exposure-response model, which support the 60mg/kg dose in CREAD Phase 3.

§Scientific publication in Cell Reports describing the crystal structure of crenezumab targeting Abeta oligomers, the most toxic type of Abeta.

§Second CREAD Phase 3 trial to be started by partner Genentech with 750 patients with prodromal or mild Alzheimer’s disease (announced February 28, 2017).

 

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© AC Immune 2015