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6-K
AC IMMUNE SA filed this Form 6-K on 08/09/2017
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EXHIBIT 99.3

 

 

AC IMMUNE REPORTS second QuArter 2017 financial results

 

§Strong cash position of CHF 124.2 million provides resources to advance pipeline of seven therapeutic and three diagnostic candidates

 

§Increased R&D investment across three pillars of Alzheimer`s disease, neuro-orphan indications and diagnostics

 

§Entered into first Asian collaboration for neurodegenerative diseases and neuroinflammation with Essex Bio-Technology

 

Lausanne, Switzerland, August 9, 2017 – AC Immune SA (NASDAQ: ACIU), a Swiss-based, clinical stage biopharmaceutical company with a broad pipeline focused on neurodegenerative diseases, today announced financial results for the second quarter ended June 30, 2017.

 

Prof. Andrea Pfeifer, CEO of AC Immune, commented: “Our second quarter was highlighted by the exciting agreement with Essex Biotechnology, in which we plan to leverage our mutual expertise in the areas of neurodegeneration and neuroinflammation to develop therapeutic candidates for Alzheimer’s disease and frontotemporal dementia. This partnership marks AC Immune’s first R&D collaboration in Asia. As we continue to invest and build value in each of the three pillars of our business -- Alzheimer’s disease, neuro-orphan indications, and diagnostics -- we expect to see continued news-flow across these areas during the second half of 2017.”

 

Key Financial Data – Unaudited (CHF million1)

 

  For the Three Months
Ended June 30
For the Six Months
Ended June 30
  2017 2016 2017 2016
Revenues 0.8 19.9 2.8 20.4
R&D expenses 6.8 5.6 14.3 11.0
G&A expenses 2.2 1.9 4.5 2.8
Income (Loss) for the period (12.3) 12.9 (21.8) 6.8

Adjustments:

 

Non-Cash share-based compensation 0.2 0.1 0.3 0.2
Foreign currency remeasurement (Gains)/Losses 4.0 (0.6) 5.6 (0.2)
Adjusted Income (Loss) 2 (8.2) 12.5 (15.9) 6.7
EPS - basic            (0.22)              0.27        (0.38)          0.14
EPS - diluted           (0.22)              0.25        (0.38)          0.13
Adjusted EPS - basic2 (0.14) 0.26 (0.28)          0.14
Adjusted EPS - diluted2 (0.14) 0.24 (0.28)          0.13
  As of
  June 30, 2017 Dec 31, 2016
Cash and cash equivalents 124.2 152.2
Total shareholders’ equity 120.9 142.4

 

1Key financial data in CHF million except for share and per share data.

 

2Adjusted Income (Loss) and Adjusted EPS are non-IFRS measures. See “Non-IFRS Financial Measures” below for further information.

 

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© AC Immune 2015