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AC Immune reported its first quarter 2024 financial results and corporate update, highlighting a landmark deal with Takeda for ACI-24.060 with $100 million upfront and potential payments of up to $2.1 billion. The ACI-24.060 ABATE Phase 2 trial is on track to report results in Q2 2024, and the ACI-7104.056 VacSYn Phase 2 trial in Parkinson's disease is progressing. The company has a three-year cash runway with CHF 104.8 million. Financially, the company had a cash balance of CHF 104.8 million, R&D expenses of CHF 15.2 million, and reported a net loss of CHF 17.9 million for the quarter.
AC Immune and Takeda have signed an exclusive option and license agreement for ACI-24.060, an active immunotherapy targeting Amyloid Beta for Alzheimer's disease. Takeda will pay AC Immune $100 million upfront, with additional potential milestones totaling around $2.1 billion. AC Immune will host a conference call and webcast to discuss the agreement.
