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6-K
AC IMMUNE SA filed this Form 6-K on 08/09/2017
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For the six months ended June 30, 2017, the decrease in collaboration revenues was principally due to two milestones reached in the second quarter of fiscal 2016. The Company recorded CHF 4.9 million for reaching a clinical milestone in a Phase 1b study in its agreement with Janssen. The Company also recognized CHF 14 million from its Anti-tau antibody agreement with Genentech as the first patient had been injected with the anti-tau antibody. For the six months ended June 30, 2017, the Company recognized an EUR 1 million (CHF 1.1 million) milestone payment invoiced to Piramal Imaging for the initiation of “Part B” of the first-in-man phase 1 clinical trial for PSP (Progressive Supranuclear Palsy) and CHF 1.8 million in research contribution revenues related to the Alpha-synuclein and TDP-43 PET Imaging Tracers Biogen collaboration.

 

Research and Development Expenses

 

For the three and six months ended June 30, 2017, research and development expenses totaled CHF 6.8 million and CHF 14.3 million, respectively, compared with CHF 5.6 million and CHF 11.0 million for the same periods in 2016, respectively. This represents an increase of CHF 1.2 million and CHF 3.3 million, respectively. The following tables present the research and development expenses during the three and six months ended June 30, 2017 and 2016:

 

   For the Three Months
Ended June 30,
   
   2017  2016  Change
   (in CHF thousands, unaudited)
Operating expenses(1)    4,508    3,895    613 
Salaries and related costs(2)    2,330    1,751    579 
Total research and development expenses    6,838    5,646    1,192 

 

   For the Six Months
Ended June 30,
   
   2017  2016  Change
   (in CHF thousands, unaudited)
Operating expenses(1)    9,798    7,747    2,051 
Salaries and related costs(2)    4,515    3,271    1,244 
Total research and development expenses    14,313    11,018    3,295 

 

(1)Includes depreciation expense

 

(2)Includes share-based compensation

 

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