The upfront payment provides non-dilutive funding, reducing near-term financing risk. The continued partnership with Lilly validates AC Immune's Morphomer platform and de-risks development. Traders should monitor initiation of IND-enabling studies and future milestone triggers as catalysts.
Price Chart
Executive Summary
AC Immune announced an amendment to its collaboration agreement with Eli Lilly for the development of Tau-targeting small molecules, securing a CHF 10 million upfront payment and maintaining eligibility for over CHF 1.7 billion in future milestones plus double-digit royalties. The amendment reflects progress in preclinical development, with IND-enabling studies expected to begin in H1 2026.
Key Facts
- Amendment to 2018 license and collaboration agreement with Eli Lilly for Tau aggregation inhibitor small molecules
- AC Immune to receive CHF 10 million upfront payment
- Eligible for additional milestones exceeding CHF 1.7 billion and tiered royalty payments in the low double digits
- IND-enabling studies to commence in first half of 2026
- Strong preclinical data cited for Morphomer small molecules targeting intracellular Tau
Financial Impact
CHF 10 million upfront payment received; potential for over CHF 1.7 billion in future milestones and double-digit royalty stream
Risk Factors
- Drug development risk: Preclinical success does not guarantee clinical efficacy or regulatory approval
- Dependence on Lilly for development and commercialization success
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0000950103-26-005409 |
| Document: dp244548_6k.htm | 0000950103-26-005409 |
| Document: 0000950103-26-005409-index-headers.html | 0000950103-26-005409 |
| Document: 0000950103-26-005409-index.html | 0000950103-26-005409 |
| Document: 0000950103-26-005409.txt | 0000950103-26-005409 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 9, 2026 17d ago | 3/A | $2.45 $2.40 | ▼ −2.04% | ▼ −2.03% | $2.31 (−5.71%) |
Oct 9, 2026 17d ago | 3 | $2.50 $2.45 | ▼ −2.00% | ▼ −1.94% | $2.31 (−7.60%) |
Oct 2, 2026 24d ago | 6-K | $2.73 $2.71 | ▼ −0.55% | ▼ −1.22% | $2.31 (−15.23%) |
Sep 23, 2026 4w ago | 6-K | $2.83 $2.66 | ▼ −6.01% | ▼ −5.92% | $2.31 (−18.37%) |
Sep 3, 2026 7w ago | 6-K | $2.93 $2.86 | ▼ −2.39% | ▼ −2.00% | $2.31 (−21.16%) |
Aug 20, 2026 9w ago | 6-K | $2.64 $2.90 | ▲ +9.85% | ▲ +9.44% | $2.31 (−12.50%) |
Aug 20, 2026 9w ago | Press Release | $2.64 $2.90 | ▲ +9.85% | ▲ +9.44% | $2.31 (−12.50%) |
Aug 11, 2026 10w ago | 6-K | $2.54 $2.62 | ▲ +3.15% | ▲ +2.90% | $2.31 (−9.06%) |
Aug 11, 2026 10w ago | Press Release | $2.54 $2.62 | ▲ +3.15% | ▲ +2.90% | $2.31 (−9.06%) |
Aug 5, 2026 11w ago | 6-K | $2.29 $2.32 | ▲ +1.31% | ▲ +1.47% | $2.31 (+0.87%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers