ACIU

CorMedix Therapeutics CRMD delivered second-quarter 2026 adjusted earnings of 29 cents per share, which increased 4% year over year from 28 cents reported in the year-ago quarter. The reported figure beat the Zacks Consensus Estimate of 26 cents. Consolidated revenues were $101.9 million, which rose 157% from $39.7 million a year ago and came above the Zacks Consensus Estimate of $95 million. Results reflected continued DefenCath utilization among large outpatient dialysis customers and a full-quarter contribution from the acquired Melinta portfolio. Management also lifted its full-year EBITDA outlook following the better-than-expected second-quarter 2026 results. The stock gained 14.7% on Thursday following the earnings release. DefenCath remained the largest revenue source in the quarter, generating $66.1 million in sales. Management said continued utilization by large outpatient dialysis customers supported performance, while the year-over-year increase was driven largely by the onboarding of a large dialysis organization in mid-2025. CorMedix also signed a multi-year commercial supply agreement for DefenCath with another large dialysis organization, bringing its commercial supply agreements to all five of the top U.S. dialysis providers. The customer placed an initial order and is set to begin a pilot in the third quarter, giving CRMD another potential avenue for broader DefenCath utilization. The acquired Melinta portfolio contributed $35.8 million to second-quarter revenues. The Melinta acquisition closed in August 2025, so the second quarter of 2025 included revenues only from DefenCath, making the year-over-year revenue comparison structurally different. Shares of CorMedix have plunged 30% so far this year against the industry’s 5.8% growth. Image Source: Zacks Investment Research Total operating expenses were $34.2 million in the second quarter, up about 87% from $18.3 million a year earlier. The increase mainly reflected a full quarter of expenses from the Melinta acquisition and the combined company's larger cost structure. R&D expenses rose significantly to $6.7 million from $2.4 million, driven primarily by higher personnel and clinical study services supporting ongoing programs. Selling and marketing expenses increased about 95% to $12.4 million, while general and administrative expenses rose about 59% to $15.1 million. CorMedix ended the second quarter with cash and cash equivalents of $256.7 million, excluding restricted cash, up from $178.1 million at the end of the first quarter of 2026. Management believes its existing resources are sufficient to fund operations for at least 12 months from the issuance of the company’s second-quarter Form 10-Q. Management maintained its full-year 2026 consolidated revenue guidance of $325-$345 million. It also reiterated DefenCath's revenue guidance of $175-$195 million, with management noting that the franchise was tracking toward the middle to upper end of that range. CorMedix raised its full-year adjusted EBITDA guidance to $125-$140 million. Management also said recent customer contract amendments covering third- and fourth-quarter 2026 pricing, and in some cases 2027 pricing and volume commitments, improved visibility into utilization through year-end. CorMedix Inc price-consensus-eps-surprise-chart | CorMedix Inc Quote CorMedix, with partner Mundipharma, expects to submit a supplemental new drug application for Rezzayo in prophylaxis of invasive fungal disease in the third quarter of 2026. The phase III ReSPECT study of the drug met its primary FDA endpoint of fungal-free survival at day 90 and demonstrated non-inferiority versus the standard antifungal regimen. If the filing is accepted for review, the company expects FDA action in the first half of 2027. CorMedix is also advancing its phase III DefenCath study in patients with total parenteral nutrition, having submitted a protocol amendment to narrow certain exclusion criteria. The company continues to expect study completion in 2028. CorMedix currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the biotech sector are Amneal Pharmaceuticals AMRX, Repligen RGEN and AC Immune ACIU. AMRX and RGEN currently sport a Zacks Rank #1 (Strong Buy) each, while ACIU carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Over the past 60 days, earnings estimates for Amneal Pharmaceuticals have increased from $1.00 to $1.02 for 2026. Over the same period, earnings estimates increased from $1.12 to $1.21 for 2027. AMRX shares have risen 37% year to date. Amneal Pharmaceuticals beat earnings in each of the trailing four quarters, delivering an average surprise of 32.82%. Over the past 60 days, estimates for Repligen’s 2026 earnings per share have risen from $1.99 to $2.06, while estimates for 2027 have increased from $2.57 to $2.62. RGEN shares have lost 2.2% year to date. Repligen’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 16.80%. Over the past 60 days, estimates for AC Immune’s 2026 loss per share have narrowed from 84 cents to 60 cents. Over the same period, earnings estimates for 2027 remained unchanged at 17 cents. ACIU shares have plunged 18.2% year to date. AC Immune’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 33.25%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CorMedix Inc (CRMD) : Free Stock Analysis Report Repligen Corporation (RGEN) : Free Stock Analysis Report AC Immune (ACIU) : Free Stock Analysis Report AMNEAL PHARMACEUTICALS, INC. (AMRX) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AC Immune (ACIU) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.22 per share. This compares to a loss of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +113.64%. A quarter ago, it was expected that this biopharmaceutical company would post a loss of $0.2 per share when it actually produced a loss of $0.19, delivering a surprise of +5%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. AC Immune, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $19.12 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1,812.10%. This compares to year-ago revenues of $1.58 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. AC Immune shares have lost about 27.7% since the beginning of the year versus the S&P 500's gain of 13%. While AC Immune has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for AC Immune was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.22 on $1 million in revenues for the coming quarter and -$0.84 on $4.4 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Biomedical and Genetics is currently in the top 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Codexis (CDXS), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 11. This producer of custom industrial enzymes is expected to post quarterly loss of $0.17 per share in its upcoming report, which represents a year-over-year change of -6.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Codexis' revenues are expected to be $12.73 million, down 17% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AC Immune (ACIU) : Free Stock Analysis Report Codexis, Inc. (CDXS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AC Immune First Quarter 2026 Financial and Corporate Updates Dosed first subjects in Phase 1 trial of brain-penetrant small molecule NLRP3 inhibitor ACI-19764 with SAD/MAD results in healthy volunteers expected in H2 2026 Initiated final cohort, AD4, in ABATE Phase 1b/2 trial of ACI-24 to treat Alzheimer's Disease triggers milestone payment, as announced separately today Amended Morphomer® Tau collaboration with Lilly reflects growing excitement for targeting intracellular Tau and significant progress with our Morphomer® small molecules Approaching multiple milestones including 12-month interim results of the AD3 cohort in ABATE in Q2 2026 and full data from Part 1 of ACI-7104 VacSYn Phase 2 trial expected in H2 2026 Cash resources of CHF 74.8 million as of March 31, 2026, provide funding into Q4 2027 Lausanne, Switzerland, April 30, 2026 -- AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision therapeutics for neurodegenerative diseases, today provided financial and corporate updates for the quarter ended March 31, 2026. Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: “The progress in our collaborations with Takeda and Eli Lilly reflect great confidence in our anti-Abeta active immunotherapy and Tau aggregation inhibitor small molecules, respectively. These have the potential to change the way we target the proteinopathies that drive Alzheimer’s and other neurodegenerative diseases (NDDs). This is further exemplified by the presentation of the interim results for ACI-7104 at AD/PD 2026 showing that our active immunotherapy targeting a-synuclein (a-syn) has the potential to modify disease pathology in Parkinson’s disease (PD). We also advanced our NLRP3 inhibitor ACI-19764 into clinical development, further demonstrating the power of AC Immune’s technology to target the key pathways that contribute to neurodegeneration. “We are now moving towards multiple value inflection points during 2026. These include Phase 2 data readouts on our active immunotherapies ACI-7104 and ACI-24, and initial results from the Phase 1 trial of ACI-19764 also anticipated this year.” Q1 2026 and Subsequent Highlights: ACI-24 anti-Abeta active immunotherapy As announced separately today, AC Immune has initiated the final cohort, AD4, in the ongoing Phase 1b/2 ABATE trial of ACI-24 to treat Alzheimer's Disease Treatment of the first patient in cohort AD4 triggers a $12 million milestone payment from Takeda Morphomer-Tau small molecule program Amended agreement with Eli Lilly and Co. (Lilly) reflects growing excitement for targeting intracellular Tau and significant progress with our Morphomer small molecules The amendment continues the research and collaboration to cover development of new lead Tau Morphomer® candidates and potential back-up compounds. Under this amendment, AC Immune receives a CHF10 million upfront payment (Q2 2026 event) and a subsequent milestone payment subject to Phase 1 dosing, in addition to milestones announced in a prior amendment. AC Immune is eligible for further development, regulatory and commercial milestones of over CHF1.7 billion, plus tiered percentage royalty payments in the low double digits, as previously disclosed. Investigational New Drug (IND)-enabling studies are expected to be initiated imminently. ACI-7104, anti-a-syn active immunotherapy Presented updated interim results from Part 1 of the Phase 2 VacSYn clinical trial in early-stage Parkinson's disease at the International Conference on Alzheimer’s and Parkinson’s Diseases (AD/PD™ 2026), including promising biomarker data. Interim results previously presented include changes in biomarkers and clinical measures all suggesting potential disease modification through treatment with ACI-7104 Final results for the week 104 full data set from Part 1 of the VacSYn trial expected to be reported in H2 2026. NLRP3 inhibitor, ACI-19764, small molecule program Dosed the first subjects in a Phase 1 clinical trial of ACI-19764, a brain-penetrant Morphomer small molecule targeting the NLRP3 inflammasome. Morphomer NLRP3 inhibitors have potential to intervene at the earliest stages of disease in neurodegenerative conditions, including AD, PD, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia. Potential additional indications include inflammatory disorders, cardiovascular disease, metabolic disorders, skin inflammatory diseases, and certain rare diseases, among others. ACI-35 (JNJ-2056) anti-pTau active immunotherapy AC Immune’s partner Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company, is seeking a protocol amendment for the ReTain study to enable earlier insights into the biological activity of JNJ-2056 and its potential for clinical benefit. Submissions to all relevant health authorities are ongoing. The study remains active, with enrollment paused, and there is no change for enrolled participants at this time. The study is ongoing based on ~60 enrolled patients with a minimum of 12 months and up to 24 months of treatment and follow-up. TDP-43 PET tracer Presented Phase 1 data including the first in vivo images of TDP-43 pathology in the human brain, detected using its first-in-class positron emission tomography (PET) tracer ACI-19626, at the International Conference on Alzheimer’s and Parkinson’s Disease (AD/PD™ 2026). Initial Phase 1 data (PET scans) with ACI-19626 showed that tracer uptake was significantly higher in key regions of the brain in patients with frontotemporal dementia (FTD) and we are currently evaluating the tracer in ALS patients. Clinical data indicate a pharmacokinetic (PK) profile suitable for human brain imaging and potentially pharmacodynamic analysis of therapeutics targeting TDP-43 pathology. AC Immune AD/PDTM 2026 symposium Hosted an industry symposium on achieving precision prevention in Parkinson’s disease, highlighting Phase 2 clinical data on our ACI-7104 active immunotherapy, our small molecule programs targeting intracellular alpha-synuclein, and innovative diagnostic approaches to identifying at-risk individuals. Anticipated 2026 Milestones Analysis of Financial Statements for the Quarter Ended March 31, 2026 Cash Position: The Company had total cash resources of CHF 74.8 million (CHF 91.4 million as of December 31, 2025), composed of CHF 19.2 million in cash and cash equivalents and CHF 55.6 million in short-term financial assets. The Company’s cash resources are expected to provide sufficient capital to last into Q4 2027, excluding potential milestone payments. R&D expenditures: R&D expenses for the three months ended March 31, 2026, were CHF 11.8 million, compared with CHF 15.9 million for the comparable period in 2025. The decrease was partly due to lower personnel and operational spend of approximately CHF 1.7 million as a result of our pipeline focus initiatives announced in Q3 2025, as well as lower spend associated with our active immunotherapy programs, particularly in the upfront CMC costs prior to initiation of phase 2 studies. G&A expenditures: G&A expenses in the period were CHF 4.2 million in the period ended March 31, 2026, compared to CHF 4.4 million for same period in 2025. Financial result: The financial result was a loss of less than CHF 0.1 million for the period, compared with a gain of CHF 0.3 million for the comparable period. The change was primarily driven by a decrease in interest income earned on short-term financial assets, partially offset by lower foreign exchange losses. IFRS loss for the period: The Company had a net loss of CHF 14.8 million for the period ended March 31, 2026, compared to CHF 19.0 million for the same period in 2025. About AC Immune SA AC Immune SA is a clinical-stage biopharmaceutical company and a global leader in precision prevention for neurodegenerative diseases, including Alzheimer’s disease, Parkinson’s disease, and NeuroOrphan indications driven by misfolded proteins. The Company’s two clinically validated technology platforms, SupraAntigen® and Morphomer®, fuel its pipeline of first- and best-in-class assets, which currently features a range of therapeutic and diagnostic programs, including candidates in Phase 2 and Phase 3 development. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies, resulting in substantial non-dilutive funding to advance its proprietary programs and >$4.5 billion in potential milestone payments plus royalties. SupraAntigen® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® is a registered trademark of AC Immune SA in CA, CN, CH, EU, GB, JP, KR, NO, RU and SG. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release. For further information, please contact: Forward looking statements This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement. Condensed Consolidated Balance Sheets (Unaudited) (In CHF thousands) Condensed Consolidated Statements of Income/(Loss) (Unaudited) (In CHF thousands, except for per-share data) Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (In CHF thousands) Attachment 20260429__ACIU Q1 2026 Update-final

AC Immune Reports Full Year 2025 Financial Results and Provides a Corporate Update Phase 2 interim results suggest treatment with active immunotherapy ACI-7104 may slow the progression of Parkinson’s disease NLRP3 inhibitor ACI-19764 Phase 1 trial initiated with first participants dosed Approaching multiple value-inflection points, including interim results of the AD3 cohort in the Phase 2 ABATE trial of ACI-24 in Alzheimer’s disease in H1 2026, and full 24-month data from Part 1 of the Phase 2 VacSYn trial of ACI-7104 in Q3 2026 Cash resources of CHF 91.4 million as of December 31, 2025, provide funding to the end of Q3 2027 before any potential milestone payments Lausanne, Switzerland, March 13, 2026 -- AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision therapeutics for neurodegenerative diseases, today reported results for the full year ended December 31, 2025, and provided a corporate update. Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: “We made significant progress towards delivering precision prevention of neurodegenerative diseases in 2025, exemplified by the exceptional interim data from the VacSYn trial of ACI-7104, our wholly-owned active immunotherapy targeting α-synuclein. Evidence that ACI-7104 appears to slow the rate of progression in early Parkinson’s disease (PD) further demonstrates the potential for active immunotherapies as disease-modifying treatments with the potential to slow or prevent neuronal damage.” “Our novel Morphomer® small-molecule therapeutics complement these programs by targeting intracellular mechanisms, enabling intervention at the earliest stages of disease. ACI-19764, a brain-penetrant NLRP3 inhibitor with potential to treat numerous diseases both within and beyond neurodegeneration, is now in a Phase 1 trial.” Full Year 2025 and Subsequent Highlights: ACI-7104 anti-α-synuclein active immunotherapy Reported positive interim safety and efficacy results from Part 1 of the Phase 2 VacSYn trial of our wholly-owned anti-α-synuclein active immunotherapy ACI-7104 in early PD. Results suggest, for the first time, that targeting underlying α-synuclein pathology with an active immunotherapy may slow the rate of progression of Parkinson’s disease. These results could translate into a shift from treating symptoms toward true disease modification in PD Clear safety profile with no clinically relevant safety issues reported to date Targets met for immunogenicity (100% responder rate), pharmacodynamic effect, target engagement and clinical assessments Final data from Part 1 of the study expected in mid-2026. Morphomer-Tau small molecule program Progressed the Morphomer small molecule Tau aggregation inhibitors for the potential treatment of Alzheimer’s disease (AD) and other neurodegenerative diseases. Investigational New Drug (IND)-enabling studies are expected to begin in H1 2026. NLRP3 inhibitor, ACI-19764, small molecule program Dosed the first participants in a Phase 1 clinical trial of ACI-19764, a brain-penetrant small molecule targeting the NLRP3 inflammasome (NCT07463196). Our NLRP3 inhibitors have potential to intervene at the earliest stages of disease in neurodegenerative conditions, including AD, PD, amyotrophic lateral sclerosis (ALS) and frontotemporal dementia. Potential additional indications include inflammatory disorders (e.g., multiple sclerosis, inflammatory bowel disease, gout), cancer, cardiovascular disease, metabolic disorders (e.g., Type 2 diabetes, obesity), skin inflammatory diseases (e.g. hidradenitis suppurativa) and rare genetic syndromes of autoimmunity such as Cryopyrin-associated periodic syndromes (CAPS). ACI-19764, an orally available, brain-penetrant NLRP3 inhibitor is a major addition to AC Immune’s growing intracellular targeting pipeline. Sharpened Pipeline Focus with Operational Efficiencies Extending Cash Runway Following a strategic review by executive management, sharpened investment on our most important assets. These include the three clinical-stage active immunotherapy programs ACI-7104, ACI-24 and ACI-35, the latter two of which are in ongoing pharma collaborations, and promising small molecule programs targeting NLRP3, Tau and α-synuclein. The Company reduced its workforce by around 30% and extended its cash for operations to the end of Q3 2027. AC Immune research results published in peer-reviewed journals and presented at conferences: Clinical results from the completed Phase 1b/2a trial of active immunotherapy ACI-35 (JNJ-2056) partnered with Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, in eBioMedicine. Preclinical research demonstrating the in vivo activity of a vectorized (AAV9) anti-TDP-43 monoclonal antibody in a model of ALS/FTD, in Molecular Therapy. First-in-class positron emission tomography (PET) tracers for imaging TDP-43 pathology in the brain, including ACI-19626, that could enable a precision medicine approach to neurodegenerative diseases which are currently difficult to diagnose, in Nature Communications. Featured the company’s therapeutic and diagnostic programs in presentations at AD/PD™ 2025 where we also hosted an industry symposium highlighting the company’s leading pipeline of active immunotherapies for precision prevention of neurodegenerative diseases. Appointed Prof. Catherine Mummery, a renowned neurologist and expert in dementia clinical trials, as Chair of Ac Immune’s Clinical Advisory Board (CAB). Anticipated 2026 Milestones Analysis of Financial Statements for the Full Year Ended December 31, 2025 Cash Position: The Company had total cash resources of CHF 91.4 million as of December 31, 2025, compared to total cash resources of CHF 165.5 million as of December 31, 2024. The Company’s cash balance provides sufficient capital resources into Q3 2027, assuming no other milestones. Contract Revenues: The Company recorded CHF 3.6 million in contract revenues for the year ended December 31, 2025, compared with CHF 27.3 million in the prior year. For the year ended December 31, 2025, our contract revenues of CHF 3.6 million were related to the efforts made under the agreement with Takeda for development, CMC, and regulatory activities. The decrease compared to the prior year relates to the recognition of the second ReTain-related milestone payment of CHF 24.6 million under the agreement with Janssen in 2024. R&D Expenditures: R&D expense decreased by CHF 6.1 million for the year ended December 31, 2025 to CHF 56.4 million, predominantly due to: Discovery and preclinical expenses: Decrease of CHF 1.6 million, primarily due to the completion of certain pre-clinical studies and our strategic focus on advancing clinical-stage programs. Clinical expenses: Decrease of CHF 4.4 million, primarily due to lower costs related to manufacturing activities for our Phase 2 VacSYn study evaluating ACI-7104 in early PD and certain non-recurring manufacturing costs in 2024. These changes were offset by increased costs associated with our NLRP3 inhibitor program, which entered clinical development in 2026, and higher costs associated with our PET Tracer programs. Salary- and benefit-related costs: Decrease of CHF 0.7 million, primarily due to decreased share-based compensation in the current year. G&A Expenditures: G&A expenses decreased by CHF 1.1 million for the year ended December 31, 2025, to CHF 16.1 million. This decrease is primarily due to legal fees in 2024 which did not recur. Restructuring Expenditures: Expenses recognized as a result of the restructuring were CHF 0.5 million compared to nil for the year ended 2024. These expenses include CHF 2.1 million of termination benefits, offset by a CHF 1.8 million gain on curtailment in the defined benefit pension liability. The remaining balance pertains to other non-cash activities within share-based compensation. Financial Result: Net finance result was a CHF 1.1 million loss for the year ended December 31, 2025, compared with a CHF 1.5 million gain in 2024. This was due to lower interest received on net investments in short-term financial assets and foreign exchange differences caused by foreign currencies depreciating against CHF, predominantly the U.S. Dollar. IFRS Loss for the Period: The Company reported a net loss after taxes of CHF 70.5 million for the year ended December 31, 2025, compared with a net loss of CHF 50.9 million for the prior year. 2026 Financial Guidance For the full year 2026, the Company expects its total cash expenditure to be in the range of CHF 55-65 million. The Company defines total cash expenditure as operating expenditure adjusted to include capital expenditure and offset by significant non-cash items (including share-based compensation and depreciation expenses). About AC Immune SA AC Immune SA is a clinical-stage biopharmaceutical company and a global leader in precision prevention for neurodegenerative diseases, including Alzheimer’s disease, Parkinson’s disease, and NeuroOrphan indications driven by misfolded proteins. The Company’s two clinically validated technology platforms, SupraAntigen® and Morphomer®, fuel its pipeline of first- and best-in-class assets, which currently features a range of therapeutic and diagnostic programs, including candidates in Phase 2 and Phase 3 development. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies, resulting in substantial non-dilutive funding to advance its proprietary programs and >$4.5 billion in potential milestone payments plus royalties. SupraAntigen® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® is a registered trademark of AC Immune SA in CA, CN, CH, EU, GB, JP, KR, NO, RU and SG. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release. For further information, please contact: Forward looking statements This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement. AC Immune SA Consolidated Balance Sheets (Unaudited) (In CHF thousands) Consolidated Statements of Income/(Loss) (unaudited) (In CHF thousands, except for per-share data) Consolidated Statements of Comprehensive Income/(Loss) (unaudited) (In CHF thousands) Attachment 20260313__ACIU Q4 2025 Earnings Final

AC Immune (ACIU) remains unprofitable, but has managed to shrink its losses by an average of 5.9% per year over the last five years. With consensus forecasts calling for annual earnings growth of 66.51% and a transition to profitability expected within three years, the numbers position the company as a high-growth biotech. Revenue is projected to climb 55.6% annually. The current Price-to-Book Ratio of 4.2x stands out above peers and the US Biotech industry average. Investors are likely to weigh the company’s rapid growth path and discount share price against its near-term volatility and relatively high valuation. See our full analysis for AC Immune. The real test is how these earnings figures compare to the market’s big stories about AC Immune. Next, we’ll see where the community narratives get confirmed, and where the numbers may force a rethink. Curious how numbers become stories that shape markets? Explore Community Narratives AC Immune has reduced its annual losses by 5.9% on average over the last five years, a trend that stands out in the biotech space where sustained deficits are often the norm. Surprising many, the rate of narrowing losses not only suggests the company’s cost controls are working, but also this contrasts with the prevailing market view that emerging biotechs typically accumulate larger losses before profitability. This trend may indicate a potentially smoother path toward positive earnings. it suggests that the expected transition to profitability in the next three years is more than just hype, especially relative to sector averages. Projected revenue growth of 55.6% per year sharply exceeds the broader US market forecast of 10.5% annually. This highlights AC Immune's trajectory as one of the more aggressive growth profiles among peers. What’s notable is that, despite this rapid pace, the prevailing market view points out such speed puts the spotlight on execution risks, since market sentiment for high-growth biotechs often hinges on hit-or-miss clinical milestones rather than steady performance. the company’s ability to capture upside will depend on converting this revenue surge into tangible milestones that can ease concerns about volatility. Shares trade at $3.30 versus a DCF fair value estimate of $66.83, leaving a notable discount even as the Price-to-Book Ratio sits at 4.2x and remains well above biotech industry norms. The prevailing market view highlights this valuation disconnect keeps AC Immune on the radar for bargain-seekers and growth investors alike. However, the premium multiple signals the market is already pricing in big future successes. any setbacks in meeting aggressive growth forecasts could prompt sharp reactions, since the gap between trading price and fair value magnifies both upside potential and risk. Don't just look at this quarter; the real story is in the long-term trend. We've done an in-depth analysis on AC Immune's growth and its valuation to see if today's price is a bargain. Add the company to your watchlist or portfolio now so you don't miss the next big move. Despite AC Immune’s rapid top-line advance, its erratic profitability and premium valuation highlight the risks of betting on big turnarounds in a volatile sector. If you want steadier results, use stable growth stocks screener (2077 results) to find companies that have demonstrated consistent revenue and earnings growth without the same uncertainty. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ACIU. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

AC Immune Reports Third Quarter 2025 Financial Results and Provides a Corporate Update Sharpened investment focus on high-value assets, including three Phase 2 active immunotherapy programs and small molecule programs targeting NLRP3, Tau and a-syn Cash resources of CHF 108.5 million as of September 30, 2025, provide funding to the end of Q3 2027 excluding any income from potential milestones Peer-reviewed papers covering groundbreaking results including clinical data on ACI-35.030 (JNJ-64042056) published in eBioMedicine and preclinical data on first-in-class PET tracers for imaging TDP-43 pathology published in Nature Communications IND/CTA filing for small molecule NLRP3 inhibitor ACI-19764 and the start of IND-enabling studies for Morphomer-Tau aggregation inhibitor both expected by year-end Lausanne, Switzerland, November 4, 2025 -- AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision therapeutics for neurodegenerative diseases, today reported results for the quarter ended September 30, 2025, and provided a corporate update. Dr. Andrea Pfeifer, CEO of AC Immune SA, commented: “We have sharpened our investment focus on our most valuable assets following a strategic review. Our pipeline assets have the potential to transform treatment and enable prevention of neurodegenerative disease. Our active immunotherapies for precision prevention of neurodegenerative diseases continue to make strong progress through Phase 2 development in Alzheimer’s disease and Parkinson’s disease. These are complemented by novel small-molecule therapeutics targeting intracellular mechanisms of neurodegenerative diseases. Importantly, our recent pipeline prioritization has extended our cash runway to the end of Q3 2027, without including anticipated milestone payments from our existing collaborations or potential payments from new business development deals. “We are now moving towards multiple value-inflection points. Further interim results from Part 1 of the VacSYn trial of ACI-7104.056, our wholly owned anti-alpha-synuclein active immunotherapy for Parkinson’s disease, are expected this quarter. Our two partnered active immunotherapy programs are continuing to progress according to plan. We also published data in The Lancet’s eBioMedicine on ACI-35.030 (JNJ-64042056) with the first clinical demonstration that our SupraAntigen® platform generates highly differentiated active immunotherapies compared with other approaches, even with the same peptide sequence. This technology also powers our ACI-24.060 anti-Abeta active immunotherapy program, for which additional results are expected in H1 next year.” Q3 2025 and Subsequent Highlights: Following a strategic review by executive management, the Company sharpened its focused investment on its most important assets. These include its three clinical-stage active immunotherapy programs, two of which are in ongoing pharma collaborations, and its most promising small molecule programs targeting NLRP3, Tau and a-synuclein. As a result, the Company has reduced its workforce by around 30% and extended its cash for operations to the end of Q3 2027. AC Immune groundbreaking research results published in peer-reviewed journals including: the clinical results from the completed Phase 1b/2a trial of active immunotherapy ACI-35.030’s (JNJ-2056) partnered with Janssen Pharmaceuticals, Inc., a Johnson & Johnson company, in eBioMedicine. preclinical research demonstrating the in vivo activity of a vectorized (AAV9) anti-TDP-43 monoclonal antibody in a model of ALS/FTD, in Molecular Therapy. first-in-class positron emission tomography (PET) tracers for imaging TDP-43 pathology in the brain, including ACI-19626, that could enable a precision medicine approach to neurodegenerative diseases which are currently difficult to diagnose, in Nature Communications. Appointed Prof. Catherine Mummery, a deeply experienced neurologist and expert in dementia clinical trials, as a member and Chair of its Clinical Advisory Board (CAB). Anticipated 2025 Milestones Analysis of Financial Statements for the Quarter Ended September 30, 2025 Cash position: The Company had total cash resources of CHF 108.5 million (CHF 165.5 million as of December 31, 2024), composed of CHF 27.7 million in cash and cash equivalents and CHF 80.7 million in short-term financial assets. The Company’s cash balance is expected to provide sufficient capital resources to the end of Q3 2027, excluding potential milestone payments. R&D expenditures: R&D expenses for the three months ended September 30, 2025, were CHF 13.1 million, compared with CHF 14.5 million for the comparable period in 2024. The decrease was primarily due to lower spend associated with the ACI-24.060 ABATE study during the period, as well as lower expenses incurred on ACI-7104.056. These reductions were offset by higher costs in our NLRP3 inhibitor program (ACI-19764). G&A expenditures: G&A expenses in the period were CHF 3.6 million, compared with CHF 3.8 million for the comparable period in 2024. Restructuring expenses: Expenses recognized as a result of the restructuring were CHF 0.5 million compared to nil for the comparable period in 2024. These expenses include CHF 2.1 million of termination benefits, offset by a CHF 1.8 million gain on curtailment in the defined benefit pension liability. Financial result: The financial result, net was a CHF 0.3 million gain for the three months ended September 30, 2025, compared to a CHF 1.8 million loss for the comparable period in 2024. This change was primarily driven by increased stability in foreign currency exchange differences in CHF versus foreign currencies, predominantly the U.S. Dollar. IFRS loss for the period: The Company reported a net loss after taxes of CHF 15.9 million for the three months ended September 30, 2025, compared with a net income of CHF 5.5 million for the comparable period in 2024. The change period over period derives primarily from the recognition of a CHF 24.6 million milestone in Q3 2024 under the collaboration with Janssen Pharmaceuticals, Inc. About AC Immune SA AC Immune SA is a clinical-stage biopharmaceutical company and a global leader in precision prevention for neurodegenerative diseases, including Alzheimer’s disease, Parkinson’s disease, and NeuroOrphan indications driven by misfolded proteins. The Company’s two clinically validated technology platforms, SupraAntigen® and Morphomer®, fuel its broad and diversified pipeline of first- and best-in-class assets, which currently features a range of therapeutic and diagnostic programs, including candidates in Phase 2 and Phase 3 development. AC Immune has a strong track record of securing strategic partnerships with leading global pharmaceutical companies, resulting in substantial non-dilutive funding to advance its proprietary programs and >$4.5 billion in potential milestone payments plus royalties. SupraAntigen® is a registered trademark of AC Immune SA in the following territories: AU, EU, CH, GB, JP, RU, SG and USA. Morphomer® is a registered trademark of AC Immune SA in CN, CH, EU, GB, JP, KR, NO, RU and SG. The information on our website and any other websites referenced herein is expressly not incorporated by reference into, and does not constitute a part of, this press release. For further information, please contact: Forward looking statements This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than historical fact and may include statements that address future operating, financial or business performance or AC Immune’s strategies or expectations. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” “outlook” or “continue,” and other comparable terminology. Forward-looking statements are based on management’s current expectations and beliefs and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include those described under the captions “Item 3. Key Information – Risk Factors” and “Item 5. Operating and Financial Review and Prospects” in AC Immune’s Annual Report on Form 20-F and other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date they are made, and AC Immune does not undertake any obligation to update them in light of new information, future developments or otherwise, except as may be required under applicable law. All forward-looking statements are qualified in their entirety by this cautionary statement. Condensed Consolidated Balance Sheets (Unaudited) (In CHF thousands) Condensed Consolidated Statements of Income/(Loss) (Unaudited) (In CHF thousands, except for per-share data) Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) (In CHF thousands) Attachment 20251104__ACIU Q3 2025 Earnings_FINAL

AC Immune (ACIU) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The stock might move higher if these key numbers top expectations in the upcoming earnings report. On the other hand, if they miss, the stock may move lower. While the sustainability of the immediate price change and future earnings expectations will mostly depend on management's discussion of business conditions on the earnings call, it's worth handicapping the probability of a positive EPS surprise. This biopharmaceutical company is expected to post quarterly loss of $0.22 per share in its upcoming report, which represents a year-over-year change of -466.7%. Revenues are expected to be $1.52 million, down 94.8% from the year-ago quarter. The consensus EPS estimate for the quarter has been revised 4.35% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For AC Immune, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -4.55%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination makes it difficult to conclusively predict that AC Immune will beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that AC Immune would post a loss of$0.2 per share when it actually produced a loss of -$0.25, delivering a surprise of -25.00%. Over the last four quarters, the company has beaten consensus EPS estimates three times. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. AC Immune doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Medical - Biomedical and Genetics industry, Gilead Sciences (GILD), is soon expected to post earnings of $2.15 per share for the quarter ended September 2025. This estimate indicates a year-over-year change of +6.4%. This quarter's revenue is expected to be $7.46 billion, down 1.1% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for Gilead has been revised 1.6% down to the current level. Nevertheless, the company now has an Earnings ESP of -1.34%, reflecting a lower Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #3 (Hold), makes it difficult to conclusively predict that Gilead will beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AC Immune (ACIU) : Free Stock Analysis Report Gilead Sciences, Inc. (GILD) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

AC Immune (NasdaqGM:ACIU) has stirred investor curiosity following the publication of Phase 1b/2a trial results for its active immunotherapy, ACI-35.030, in partnership with Janssen. The data in eBioMedicine highlights rapid and lasting immune responses without notable safety issues. See our latest analysis for AC Immune. With the encouraging ACI-35.030 trial results making headlines, AC Immune’s share price has shown only modest moves recently, but long-term total shareholder returns tell the broader story. Momentum has been muted, with performance reflecting both ongoing R&D promise and market caution. If breakthroughs in biotech grab your attention, it’s a great moment to explore what other innovators are up to: See the full list for free. Against this backdrop of promising clinical progress, the real question emerges: does the current share price reflect AC Immune’s potential, or might investors find an overlooked opportunity before markets price in possible breakthroughs? AC Immune is trading with a price-to-sales ratio of 9.6x, which is seen as attractive compared to its main competitors and the broader US biotech industry. The price-to-sales ratio compares a company’s stock price to its revenue per share, providing a way to evaluate fast-growing or unprofitable biotech firms where profits are not yet the main story. This figure suggests investors are currently paying less for every dollar of AC Immune’s sales than for the industry (10.5x) or peer average (13.8x). This positions the stock as a relative bargain by headline numbers. However, compared to the fair price-to-sales ratio of 0.9x, the current multiple appears much higher than what a regression-based analysis would suggest as justified. Should valuations revert, there could be a significant adjustment. Explore the SWS fair ratio for AC Immune Result: Price-to-Sales of 9.6x (ABOUT RIGHT) However, slow revenue growth or continued net losses could challenge bullish expectations if AC Immune's clinical breakthroughs do not quickly translate to commercial success. Find out about the key risks to this AC Immune narrative. While headline price-to-sales metrics suggest AC Immune is relatively well-priced among biotech peers, our DCF model presents a very different picture. By estimating the company's future cash flows, the SWS DCF model indicates AC Immune trades significantly below its calculated fair value. Could the market be missing something important, or is it too early for optimism? Look into how the SWS DCF model arrives at its fair value. Simply Wall St performs a discounted cash flow (DCF) on every stock in the world every day (check out AC Immune for example). We show the entire calculation in full. You can track the result in your watchlist or portfolio and be alerted when this changes, or use our stock screener to discover undervalued stocks based on their cash flows. If you save a screener we even alert you when new companies match - so you never miss a potential opportunity. Should you want to take a different angle or trust your own instincts, you can investigate the numbers and craft a personal perspective in just a few minutes, then Do it your way. A great starting point for your AC Immune research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision. Don’t let your next great opportunity pass you by. Use the Simply Wall Street Screener to surface high-potential stocks tailored to your style. Boost your portfolio’s passive income stream by targeting these 19 dividend stocks with yields > 3% that offer impressive yields above 3 percent and robust fundamentals. Uncover tech pioneers revolutionizing healthcare when you check out these 32 healthcare AI stocks for game-changing innovation in medical AI. Capitalize on powerful price swings and big upside by pinpointing these 3574 penny stocks with strong financials with resilient balance sheets and growth stories that defy the odds. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include ACIU. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]