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AC Immune Stock Plunges After anti-Tau Alzheimer’s Drug Trial Fails

Updated: 23 Sep 2020

Switzerland based pharmaceutical company AC Immune (NASDAQ: ACIU) and its partner Roche Group have announced that its antiTau Alzheimer's disease drug, semorinemab did not meet its primary endpoint in Phase 2 trials.

The company said that two secondary endpoints were also not met.

“Today's news is surprising and disappointing, given what we as a field know about Tau and its strong spatiotemporal correlation with both symptoms and pathology in AD,” said Professor Andrea Pfeifer, CEO of AC Immune.

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Pfeifer continued, commenting that the company's “proven business model of discovery, early development and partnering high-risk therapeutic candidates for AD have successfully generated CHF 334 million in non-dilutive funding and enabled us to accelerate clinical development of our product candidates in collaboration with world-leading partners.

AC Immune shares…

TipRanks Analysts
Source: TipRanks

The company's share price plummeted after the news. It closed Tuesday's session at $8.72 and has fallen 43.5% premarket down to $4.92 per share.

However, analysts surveyed by TipRanks see the stock valued at around $14 per share in the next 12 months.

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