AC Immune SA reported full-year 2024 revenue of $30.34 million, a substantial increase from $17.62 million in 2023 and $4.23 million in 2022. The company's operating loss improved to -$58.20 million in 2024 from -$63.84 million in 2023, and its net loss narrowed to -$56.57 million from -$64.56 million in the prior year.
A significant financial highlight was the agreement with Takeda for ACI-24.060, which includes potential milestone payments of up to $2.1 billion, with a $100 million upfront payment received in 2024. Additionally, a CHF 24.6 million milestone payment from Janssen was triggered in 2024 due to prescreening rates in the ReTain trial of ACI-35.030.
These substantial payments ensure funding for AC Immune's currently planned operations into 2027, providing crucial financial stability. Research and development expenses for 2024 stood at $69.52 million, reflecting continued investment in its pipeline.
The company anticipates several key milestones in 2025, including interim results from the ABATE Phase 2 trial in Alzheimer's disease and Down syndrome in the second half of the year. Further interim results from Part 1 of the Phase 2 VacSYn trial in Parkinson's disease, including pharmacodynamics and biomarkers, are expected in the first half of 2025, with the initiation of Part 2 planned for the second half of 2025.
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