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SEC Filings

AC IMMUNE SA filed this Form 20-F on 03/21/2019
Entire Document


Reconciliation of Loss to Adjusted Loss and

Loss per Share to Adjusted Loss per Share



For the Years Ended

December 31, 

in CHF thousands except for share and per share data








 Non-cash share-based payments (a) 2,518 1,579 1,317
 Foreign currency (gains)/losses (b)




Adjusted Loss




Loss per share – basic and diluted




Adjustment to loss per share – basic and diluted




Adjusted Loss per share – basic and diluted




Weighted-average number of shares used to compute Adjusted Loss per share – basic and diluted 61,838,228 57,084,295  50,096,859


(a)Reflects non-cash expenses associated with share-based compensation for equity awards issued to Directors, Management and employees of the Company. This expense reflects the awards’ fair value recognized for the portion of the equity award which is vesting over the period.


(b)Reflects foreign currency remeasurement gains and losses for the period, predominantly impacted by the change in the exchange rate between the US Dollar and the Swiss Franc.


Adjustments for the years ended December 31, 2018, 2017 and 2016, were CHF 3.7 million in net losses, CHF 5.7 million in net losses and CHF 2.1 million in net gains, respectively. These were largely due to foreign currency remeasurement losses of CHF 1.2 million, CHF 4.2 million and gains of CHF 3.4 million for the years ended December 31, 2018, 2017 and 2016, respectively, predominantly related to the cash balance of the Company as a result of fluctuations of the US Dollar against the Swiss Franc. The Company also recorded CHF 2.5 million, CHF 1.6 million and CHF 1.3 million for the years ended December 31, 2018, 2017 and 2016, respectively, for share-based compensation expenses.


The Company also discloses liquidity which is defined as a financial indicator comprised of cash and cash equivalents and short term financial assets. See Note 3 “Summary of significant accounting policiesto our Financial Statements for further definition.




A.Directors and senior management


Executive Officers, Other Key Employees and Board of Directors


The following table presents information about our executive officers, other key employees and, directors and director nominees, including their ages, as of March 1, 2019. The term of each of our directors is one year and, accordingly, will expire at our 2019 annual shareholder meeting to be held in June 2019.



© AC Immune 2015