ACIU

MKT CAP:$292M

AC Immune S.A.

Market Cap

$292M

Healthcare·Biotechnology·🇨🇭 Switzerland·NASDAQ

Healthcare·Biotechnology·🇨🇭·NASDAQ

Stock Price

$2.97-$0.39 (-11.61%)

Apr 23, 2026

Company Details

AC Immune SA, a clinical stage biopharmaceutical company, discovers, designs, and develops medicines and diagnostic products for the prevention and treatment of neurodegenerative diseases associated with protein misfolding. Its SupraAntigen...

CEO

Andrea Pfeifer

IPO Date

Sep 23, 2016

Website

www.acimmune.com

Key Metrics TTM

Revenue

$5M

-86.9% YoY

Net Income

-$90M

EPS (Diluted)

-$0.89

Free Cash Flow

-$89M

Revenue / Share

$0.04

Gross Margin

100.0%

Operating Margin

-1927.3%

Net Margin

-1968.6%

FCF Margin

-1962.0%

P/S

64.2x

P/E

—

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Mar 13, 2026

$5M-86.9%EPS -$0.85

Q4 2025

Mar 13, 2026

$430.2K-70.3%EPS -$0.18

Q3 2025

Nov 4, 2025

$1M-96.3%EPS -$0.20

Q2 2025

Aug 5, 2025

$2M+90.1%EPS -$0.27

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$0	$0	-$24M
Q2 22	$0	$0	-$25M
Q3 22	$5M	-$13M	-$17M
Q4 22	$1.3K	-$19M	-$24M
Q1 23	$0	$0	-$22M
Q2 23	$0	$0	-$22M
Q3 23	$0	$0	-$20M
Q4 23	$19M	$19M	-$5M
Q1 24	$0	$0	-$26M
Q2 24	$874.4K	$874.4K	-$27M
Q3 24	$32M	$32M	$9M
Q4 24	$1M	$1M	-$24M
Q1 25	$1M	$1M	-$25M
Q2 25	$2M	$2M	-$25M
Q3 25	$1M	$1M	-$21M
Q4 25	$430.2K	$430.2K	-$18M

Valuation

Quarter	P/S	P/E
Q1 22	—	—
Q2 22	—	—
Q3 22	51.3x	—
Q4 22	36.2x	—
Q1 23	38.2x	—
Q2 23	49.2x	—
Q3 23	193558.3x	—
Q4 23	22.4x	—
Q1 24	12.6x	—
Q2 24	20.1x	—
Q3 24	7.2x	—
Q4 24	8.5x	—
Q1 25	5.7x	—
Q2 25	5.5x	—
Q3 25	55.0x	—
Q4 25	71.9x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$29M	-$30M
Q2 22	-$25M	-$25M
Q3 22	-$17M	-$17M
Q4 22	-$22M	-$22M
Q1 23	-$21M	-$22M
Q2 23	-$18M	-$18M
Q3 23	-$17M	-$17M
Q4 23	-$21M	-$21M
Q1 24	$1M	$986.4K
Q2 24	$93M	$93M
Q3 24	-$18M	-$18M
Q4 24	$8M	$7M
Q1 25	-$24M	-$24M
Q2 25	-$20M	-$20M
Q3 25	-$23M	-$23M
Q4 25	-$21M	-$21M

Capital Expenditures

Quarter	CapEx
Q1 22	$687.3K
Q2 22	$683.5K
Q3 22	$154.0K
Q4 22	$52.2K
Q1 23	$254.6K
Q2 23	$197.3K
Q3 23	$356.4K
Q4 23	$211.3K
Q1 24	$316.9K
Q2 24	$86.5K
Q3 24	$215.1K
Q4 24	$114.5K
Q1 25	$460.7K
Q2 25	$474.7K
Q3 25	$73.8K
Q4 25	$136.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	—	+9.2%
Q2 22	—	+6.3%
Q3 22	—	-14.2%
Q4 22	—	-17.9%
Q1 23	—	-6.7%
Q2 23	—	-14.2%
Q3 23	-100.0%	-11.1%
Q4 23	+1480000.0%	-1.9%
Q1 24	—	+14.2%
Q2 24	—	+27.0%
Q3 24	—	+17.8%
Q4 24	-92.3%	+7.7%
Q1 25	—	+1.5%
Q2 25	+90.1%	-4.4%
Q3 25	-96.3%	-6.1%
Q4 25	-70.3%	-27.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$1M	—
Q2 22	$1M	—
Q3 22	$706.4K	14.1%
Q4 22	$1M	88900.0%
Q1 23	$2M	—
Q2 23	$711.5K	—
Q3 23	$379.3K	—
Q4 23	$1M	5.4%
Q1 24	$2M	—
Q2 24	$773.8K	88.5%
Q3 24	$2M	4.8%
Q4 24	$1M	85.0%
Q1 25	$2M	157.4%
Q2 25	$472.2K	28.4%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A
Q1 22	$19M	$5M
Q2 22	$20M	$6M
Q3 22	$18M	$4M
Q4 22	$19M	$5M
Q1 23	$18M	$5M
Q2 23	$17M	$5M
Q3 23	$16M	$4M
Q4 23	$19M	—
Q1 24	$19M	$6M
Q2 24	$22M	$6M
Q3 24	$18M	$5M
Q4 24	$20M	—
Q1 25	$20M	$6M
Q2 25	$21M	$5M
Q3 25	$17M	$5M
Q4 25	$13M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$74M	$148M	$221M
Q2 22	$80M	$116M	$196M
Q3 22	$57M	$122M	$179M
Q4 22	$40M	$116M	$156M
Q1 23	$73M	$61M	$134M
Q2 23	$51M	$67M	$118M
Q3 23	$41M	$61M	$102M
Q4 23	$100M	$31M	$131M
Q1 24	$73M	$61M	$133M
Q2 24	$66M	$157M	$223M
Q3 24	$41M	$160M	$201M
Q4 24	$46M	$164M	$211M
Q1 25	$25M	$160M	$185M
Q2 25	$33M	$129M	$162M
Q3 25	$35M	$103M	$138M
Q4 25	$34M	$82M	$116M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	79M	0.0%	+7.7%
Q2 22	79M	0.0%	+7.7%
Q3 22	84M	+5.4%	+13.5%
Q4 22	84M	0.0%	+5.4%
Q1 23	84M	+0.7%	+6.1%
Q2 23	84M	0.0%	+6.1%
Q3 23	84M	0.0%	+0.7%
Q4 23	84M	0.0%	+0.7%
Q1 24	99M	+18.1%	+18.1%
Q2 24	100M	+0.2%	+18.3%
Q3 24	101M	+1.3%	+19.9%
Q4 24	101M	0.0%	+19.9%
Q1 25	100M	-0.4%	+1.0%
Q2 25	101M	+0.2%	+1.1%
Q3 25	99M	-1.5%	-1.7%
Q4 25	101M	+2.1%	+0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$0	143
Q2 22	$0	143
Q3 22	$35.0K	143
Q4 22	$8	156
Q1 23	$0	156
Q2 23	$0	156
Q3 23	$0	156
Q4 23	$117.0K	161
Q1 24	$0	161
Q2 24	$5.4K	161
Q3 24	$201.5K	161
Q4 24	$8.4K	172
Q1 25	$7.3K	172
Q2 25	$9.7K	172
Q3 25	$6.9K	172
Q4 25	$43	10K

Revenue / Employee