See “Item 5. Operating and Financial
Review and Prospects”.
|E.||Off-balance sheet arrangements
We do not have any material off-balance
sheet arrangements or commitments.
|F.||Tabular disclosure of contractual obligations
We have been a tenant at our current location
in the EPFL Innovation Park since shortly after our inception in 2003. We have entered into long-term rental lease agreements with
respect to these facilities. However, our lease agreements are structured such that we can exit these lease agreements without
penalty provided we give the owner of our premises sufficient notice.
The following table presents information
relating to our contractual obligations that are committed as of December 31, 2018:
||Payments Due by Period|
|in CHF thousands
||Less Than 1 Year
||Between 1-3 Years
||Between 3-5 years
||More than 5 years
|Operating lease obligations
|Research and development obligations
See “Forward-Looking Statements.”
|H.||Non-IFRS Financial Measures
In addition to our
operating results, as calculated in accordance with International Financial Reporting Standards, or IFRS, as adopted by the International
Accounting Standards Board, we use Adjusted Loss and Adjusted Loss per share when monitoring and evaluating our operational performance.
Adjusted Loss is defined as loss for the relevant period, as adjusted for certain items that we believe are not indicative of our
ongoing operating performance. Adjusted Loss per share is defined as Adjusted Loss for the relevant period divided by the
weighted-average number of shares for such period.
We believe that these
measures assist our shareholders because they enhance comparability of our results each period and provide more useful insight
into operational results for the period. The Company’s executive management uses these non-IFRS measures to evaluate our
operational performance. These non-IFRS financial measures are not meant to be considered alone or substitute for our IFRS financial
measures and should be read in conjunction with AC Immune’s financial statements prepared in accordance with IFRS. The most
directly comparable IFRS measure to these non-IFRS measures is net loss and loss per share. The following table reconciles net
loss and loss per share to Adjusted Net Loss and Adjusted Net Loss per share for the periods presented: