EQUITY RESEARCH MEMO

AC Immune (ACIU)

Generated 5/8/2026

Executive Summary

Conviction (model self-assessment)55/100

AC Immune is a Swiss clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases, leveraging its proprietary SupraAntigen® and Morphomer® platforms. These platforms enable the development of targeted therapeutics and diagnostics for Alzheimer's, Parkinson's, and other conditions. The company's pipeline includes several Phase 1/2 and Phase 2 trials, notably ACI-24.060 targeting amyloid plaque in Alzheimer's, ACI-7104.056 for Parkinson's disease, and ACI-19764 for healthy participants. Recent progress includes the completion of Phase 1 trials for an alpha-synuclein imaging tracer and a Phase 1/2 tau vaccine. With a focus on early intervention and biomarker-driven approaches, AC Immune is positioned to address high unmet medical needs in neurodegeneration.

Upcoming Catalysts (preview)

  • Q3 2026ACI-24.060 Phase 1/2 data readout in Alzheimer's disease40% success
  • Q4 2026ACI-19764 Phase 1 safety and tolerability results70% success
  • H1 2027ACI-7104.056 Phase 2 interim analysis in Parkinson's disease35% success
Locked sections
  • · Pipeline Analysis
  • · Competitive Landscape
  • · Catalyst Calendar (full 12-month)
  • · Bull Case
  • · Bear Case
  • · Counterfactual Scenarios
  • · Valuation Notes
  • · SEC Filing Highlights
  • · Insider Activity
  • · Literature Watch
  • · Patent Landscape
  • · Mechanism Cluster Map
  • · Audio Briefing (5 min)