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SEC Filings

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

 

The Company’s approach of managing liquidity is to ensure sufficient cash to meet its liabilities when due. Therefore, management closely monitors the cash position on rolling forecasts based on expected cash flow to enable the Company to finance its operations for at least 18 months. The Company has a debt obligation due to LuMind and projects CHF 332 thousand to be paid within 12 months and CHF 186 thousand to be paid within 12-24 months from the reporting date. See Note 10 “Debt obligation” for further details.

 

20.Capital risk management

 

The Company’s objectives when managing capital are to safeguard the Company’s ability to continue as a going concern and to preserve the capital on the required statutory level in order to succeed in developing a cure against Alzheimer’s disease.

 

21.Quarterly Financial Results (Unaudited)

 

The following tables set forth certain unaudited condensed quarterly financial data for each of the four quarters in the periods ended December 31, 2018 and 2017, respectively. The Company believes that the following information reflects all normal recurring adjustments necessary for a fair statement of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

 

  For the Three Months Ended
 

Dec. 31,

2018

 

Sep. 30,

2018

 

Jun. 30,

2018

 

Mar. 31,

2018

  (in CHF thousands, except per share data) (unaudited)
Revenue  
Contract revenue 1,403   2,305   2,028   1,458
Total revenue 1,403   2,305   2,028   1,458
               
Operating expenses              

Research and development expenses

(12,129)   (11,546)   (10,533)   (10,069)

General and administrative expenses

(3,761)   (2,930)   (3,065)   (2,711)
Total operating expenses (15,890)   (14,476)   (13,598)   (12,780)
Operating income/(loss) (14,487)   (12,171)   (11,570)   (11,322)
Finance result, net (191)   (1,345)   427   (292)
Income/(loss) before tax (14,678)   (13,516)   (11,143)   (11,614)
Income tax expense -   -   -   -
Income/(loss) for the period (14,678)   (13,516)   (11,143)   (11,614)
Net income/(loss) per share (EPS):              
Basic and diluted (0.22)   (0.21)   (0.19)   (0.20)

Weighted-average number of shares used to compute EPS:

Basic and diluted 67,553,262   64,862,822   57,423,650   57,368,015

 

 F-37


© AC Immune 2015