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AC IMMUNE SA filed this Form 20-F on 03/21/2019
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The following table summarizes our research and development expenses during the years ended December 31, 2018 and 2017:


Detailed Research and Development Expenditures by Major Development Category



For the Years Ended

December 31,

in CHF thousands  2018 2017 Change
Alzheimer’s disease 14,033 10,473 3,560
Non-Alzheimer’s diseases 2,765 2,259 506
Diagnostics 2,350 1,759 591
New discovery programs 11,771 7,871 3,900
Total Programs 30,919 22,362 8,557
R&D Expenses not allocated to specific programs 13,358 10,301 3,057
Total 44,277 32,663 11,614


R&D expenses in Alzheimer’s disease increased by CHF 3.6 million in 2018 and were driven by a CHF 3.0 million increase for investments related to the completion of the Phase 1b study for ACI-35 and advancement of the vaccine through the development plan. Additionally, for ACI-24 AD, the Company spent an incremental CHF 1.4 million in set-up fees such as site selection, administration and related manufacturing costs associated with the Phase 2 study. The Company also incurred costs for the next stages of clinical development for each of these respective candidates. In Non-Alzheimer’s diseases, the Company invested an incremental CHF 0.6 million for its ACI-24 for Down syndrome’s Phase 1b clinical study. Diagnostic investments entail predominantly increases in spending related to our alpha-synuclein and TDP-43 PET tracer programs. New discovery programs increase CHF 3.9 million was driven by CHF 1.5 million related to continued proof-of-concept and manufacturing activities for studies related to our lead compounds in the Anti-Tau Morphomers and investments in new therapeutic and preventive vaccine technology. We also spent an additional CHF 0.5 million increase related to manufacturing activities in our vaccine technology program and a CHF 0.8 million for anti-a-Synuclein antibody. Finally, the Company increased its investment by CHF 0.7 million for neuroinflammation discovery program costs related to medicinal chemistry and preclinical evaluation of the compounds.


R&D Expenses not allocated to specific programs increased CHF 3.1 million predominantly driven by a CHF 2.5 million increase in salaries and related costs, CHF 0.4 million in depreciation expense and CHF 0.1 million in administrative and regulatory costs. Our total research and development costs are likely to continue to rise substantially in the coming years as the Company continues to develop and advance product candidates from the pre-clinical to clinical stages across its three-pillar strategy.


  For the Years Ended
December 31, 
in CHF thousands 2018   2017   Change
Operating expenses (1) 32,921   23,822   9,099
Salaries and related costs (2) 11,356   8,841   2,515
Total research and development expenses 44,277   32,663   11,614


(1)Includes depreciation expense

(2)Includes share-based compensation


Our research and development expenses increased to CHF 44.3 million for the year ended December 31, 2018, from CHF 32.7 million, an increase of CHF 11.6 million, as compared to year ended December 31, 2017 as discussed in the Major Development Category comparison above.


Our salaries and costs related to our research and development activities rose by CHF 2.5 million to CHF 11.4 million for the year ended December 31, 2018 from CHF 8.8 million for the year ended December 31, 2017. The increase is primarily due to the hiring of almost 19 full time equivalent employees in the Company’s research and development organization to accelerate the development of its proprietary and partnered pipeline candidates as well as additional share based compensation expense of CHF 0.4 million.



© AC Immune 2015