The EPS beat and milestone payments are positive but the stock is pre-revenue with no approved products. Key catalysts ahead: 12-month ABATE interim results in Q2 2026 and full VacSYn Phase 2 data in H2 2026. Monitor for data readouts and partnership expansions.
Price Chart
Executive Summary
AC Immune reported Q1 2026 EPS of -$0.13, beating consensus of -$0.14 by 7.1%, while revenue was $1.1M (contract revenue) vs. $263K consensus. The company advanced key pipeline milestones including dosing in the Phase 1 NLRP3 inhibitor trial and initiation of the final ABATE cohort triggering a $12M Takeda milestone, with cash of CHF 74.8M funding into Q4 2027.
Key Financial Metrics
Key Facts
- Q1 2026 EPS -$0.13 vs consensus -$0.14 (7.1% beat)
- Revenue $1.1M (contract revenue) vs consensus $263K
- Cash resources CHF 74.8M as of March 31, 2026, funding into Q4 2027
- Initiated final cohort AD4 in ABATE Phase 1b/2 trial of ACI-24, triggering $12M milestone from Takeda
- Amended Morphomer Tau collaboration with Lilly for CHF 10M upfront payment
- Dosed first subjects in Phase 1 trial of NLRP3 inhibitor ACI-19764
- Net loss CHF 14.8M vs CHF 19.0M in prior year period
- R&D expenses decreased to CHF 11.8M from CHF 15.9M YoY
Financial Impact
EPS beat by $0.01, revenue beat by ~$0.8M; cash burn reduced YoY; $12M milestone triggered from Takeda; CHF 10M upfront from Lilly amendment
Risk Factors
- No approved products or recurring revenue; depends on partnership milestones
- Clinical trial risks across multiple programs (ACI-24, ACI-7104, ACI-19764)
- Cash runway only into Q4 2027; may need future financing
- J&J's ReTain study protocol amendment with paused enrollment adds uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3284706 |
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
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