AC Immune (ACIU) 6-K 28 Oct 22 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2022
Entity Addresses [Line Items]
Document Type	6-K
Entity Registrant Name	AC IMMUNE SA
Entity Central Index Key	0001651625
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Amendment Flag	false
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021
Non-current assets
Property, plant and equipment	SFr 4,687	SFr 5,116
Right-of-use assets	2,491	2,914
Intangible asset	50,416	50,416
Long-term financial assets	361	363
Total non-current assets	57,955	58,809
Current assets
Prepaid expenses	2,888	3,015
Accrued income	50	975
Other current receivables	4,161	428
Short-term financial assets	96,000	116,000
Cash and cash equivalents	44,503	82,216
Total current assets	147,602	202,634
Total assets	205,557	261,443
Shareholders' equity
Share capital	1,797	1,794
Share premium	431,303	431,251
Treasury shares	(124)	(124)
Currency translation differences	72
Accumulated losses	(242,994)	(200,942)
Total shareholders' equity	190,054	231,979
Non-current liabilities
Long-term lease liabilities	1,903	2,340
Net employee defined benefit liabilities		7,098
Total non-current liabilities	1,903	9,438
Current liabilities
Trade and other payables	1,519	2,003
Accrued expenses	10,976	16,736
Deferred income	524	717
Short-term lease liabilities	581	570
Total current liabilities	13,600	20,026
Total liabilities	15,503	29,464
Total shareholders' equity and liabilities	SFr 205,557	SFr 261,443

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income/(Loss) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue
Contract revenue	SFr 3,934	SFr 0	SFr 3,934	SFr 0
Total revenue	3,934		3,934
Operating expenses
Research & development expenses	(14,385)	(15,118)	(45,200)	(42,158)
General & administrative expenses	(3,274)	(5,420)	(11,828)	(14,993)
Other operating income/(expense)	262	255	944	928
Total operating expenses	(17,397)	(20,283)	(56,084)	(56,223)
Operating loss	(13,463)	(20,283)	(52,150)	(56,223)
Financial income	11	4,424	11	4,424
Financial expense	(77)	(181)	(356)	(408)
Exchange differences	17	122	502	487
Finance result, net	(49)	4,365	157	4,503
Loss before tax	(13,512)	(15,918)	(51,993)	(51,720)
Income tax expense	(4)		(11)
Loss for the period	SFr (13,516)	SFr (15,918)	SFr (52,004)	SFr (51,720)
Loss per share:
Basic loss per share for the period attributable to equity holders	SFr (0.16)	SFr (0.22)	SFr (0.62)	SFr (0.71)
Diluted loss per share for the period attributable to equity holders	SFr (0.16)	SFr (0.22)	SFr (0.62)	SFr (0.71)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income/(Loss) - CHF (SFr) SFr in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Condensed Consolidated Statements of Comprehensive Income/(Loss)
Loss for the period	SFr (13,516)	SFr (52,004)
Items that will be reclassified to income or loss in subsequent periods (net of tax):
Currency translation differences	23	72
Items that will not to be reclassified to income or loss in subsequent periods (net of tax):
Remeasurement gains on defined-benefit plans (net of tax)	178	7,559
Total comprehensive loss, net of tax	SFr (13,315)	SFr (44,373)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity - CHF (SFr) SFr in Thousands	Share capital	Share premium	Treasury shares	Accumulated losses	Currency Translation Differences	Total
Balance, beginning of period at Dec. 31, 2020	SFr 1,538	SFr 346,890	SFr (100)	SFr (132,850)		SFr 215,478
Net loss for the period				(51,720)		(51,720)
Total comprehensive loss, net of tax				(51,720)		(51,720)
Share-based payments				3,081		3,081
Proceeds from sale of treasury shares in public offerings, net of underwriting fees and transaction costs		12,097	24			12,121
Issuance of shares, net of transaction costs:
Held as treasury shares	48		(48)
restricted share awards	1	169		(176)		(6)
exercise of options	2	265				267
Balance, end of period at Sep. 30, 2021	1,589	359,421	(124)	(181,665)		179,221
Balance, beginning of period at Dec. 31, 2021	1,794	431,251	(124)	(200,942)		231,979
Net loss for the period				(52,004)		(52,004)
Other comprehensive income/(loss)				7,559	SFr 72	7,631
Total comprehensive loss, net of tax				(44,445)	72	(44,373)
Share-based payments				2,441		2,441
Issuance of shares, net of transaction costs:
restricted share awards		48		(48)
exercise of options	3	4				7
Balance, end of period at Sep. 30, 2022	SFr 1,797	SFr 431,303	SFr (124)	SFr (242,994)	SFr 72	SFr 190,054

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - CHF (SFr) SFr in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Loss for the period	SFr (52,004)	SFr (51,720)
Adjustments to reconcile net loss for the period to net cash flows:
Depreciation of property, plant and equipment	1,331	1,411
Depreciation of right-of-use assets	423	367
Finance (income), net	(743)	(4,954)
Share-based compensation expense	2,441	3,081
Change in net employee defined benefit liability	461	465
Interest expense	349	402
Changes in working capital:
(Increase)/decrease in prepaid expenses	(165)	1,900
Decrease in accrued income	940	1,447
(Increase) in other current receivables	(3,802)	(11)
(Decrease) /increase in accrued expenses	(4,440)	2,128
(Decrease) in deferred income	(207)	(141)
(Decrease) in trade and other payables	(372)	(1,897)
Cash used in operating activities	(55,788)	(47,522)
Interest received	11
Interest paid	(376)	(334)
Finance costs	(8)	(5)
Net cash flows used in operating activities	(56,161)	(47,861)
Investing activities
Short-term financial assets, net	20,000	(30,000)
Purchases of property, plant and equipment	(1,198)	(1,913)
Rental deposits	2	(29)
Net cash flows provided by/(used in) investing activities	18,804	(31,942)
Financing activities
Principal payments of lease obligations	(426)	(369)
Proceeds from sale of treasury shares in public offerings, net of underwriting fees and transaction costs		12,121
Transaction costs associated with issuance of shares in relation to asset acquisition previously recorded in accrued expenses	(776)
Proceeds from issuance of common shares	7	261
Net cash flows (used in)/provided by financing activities	(1,195)	12,013
Net decrease in cash and cash equivalents	(38,552)	(67,790)
Cash and cash equivalents at January 1	82,216	160,893
Exchange gain on cash and cash equivalents	839	481
Cash and cash equivalents at September 30	44,503	93,584
Supplemental non-cash activity
Capital expenditures in Trade and other payables or Accrued expenses	SFr 7	SFr 137

Corporate information

Corporate information	9 Months Ended
	Sep. 30, 2022
Corporate information
Corporate information	Notes to the Interim Condensed Consolidated Financial Statements (Unaudited) (in CHF thousands, except share and per share amounts) 1. Corporate information AC Immune SA was founded in 2003. The Company controls a fully-owned subsidiary, AC Immune USA, Inc. (“AC Immune USA” or “Subsidiary” and, together with AC Immune SA, “AC Immune,” “ACIU,” “Company,” “we,” “our,” “ours,” “us”), which was organized under the laws of Delaware, USA in June 2021. The Company and its Subsidiary form the Group (See “Note 2. Basis of preparation and changes to the Company’s accounting policies”). AC Immune SA is a clinical-stage biopharmaceutical company leveraging our two proprietary technology platforms to discover, design and develop novel proprietary medicines and diagnostics for prevention and treatment of neurodegenerative diseases (NDD) associated with protein misfolding. Misfolded proteins are generally recognized as the leading cause of NDD, such as Alzheimer’s disease (AD) and Parkinson’s disease (PD), with common mechanisms and drug targets, such as amyloid beta (Abeta), Tau, alpha-synuclein (a-syn) and TDP-43. Our corporate strategy is founded upon a three-pillar approach that targets (i) AD, (ii) focused non-AD NDD including Parkinson’s disease, ALS and NeuroOrphan indications and (iii) diagnostics. We use our two unique proprietary platform technologies, SupraAntigen (conformation-specific biologics) and Morphomer (conformation-specific small molecules), to discover, design and develop novel medicines and diagnostics to target misfolded proteins. The Interim Condensed Consolidated Financial Statements of AC Immune SA as of and for the three and nine months ended September 30, 2022 were authorized for issuance by the Company’s Audit and Finance Committee on October 27, 2022.

Basis of preparation and change

Basis of preparation and changes to the Company's accounting policies	9 Months Ended
	Sep. 30, 2022
Basis of preparation and changes to the Company's accounting policies
Basis of preparation and changes to the Company's accounting policies	2. Basis of preparation and changes to the Company’s accounting policies Statement of compliance These Interim Condensed Consolidated Financial Statements as of September 30, 2022 and for the three and nine months ended September 30, 2022 and 2021, have been prepared in accordance with International Accounting Standard 34 (IAS 34), Interim Financial Reporting Basis of measurement These Interim Condensed Consolidated Financial Statements have been prepared under the historical cost convention. Functional and reporting currency These Interim Condensed Consolidated Financial Statements and accompanying notes are presented in Swiss Francs (CHF), which is AC Immune SA’s functional currency and the Group’s reporting currency. The Company’s subsidiary has a functional currency of the US Dollar (USD). The following exchange rates have been used for the translation of the financial statements of AC Immune USA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months For the Nine Months ​ ​ Ended September 30, ​ Ended September 30, ​ ​ 2022 2021 ​ 2022 2021 CHF/USD Closing rate, USD 1 0.985 0.943 0.985 0.943 Weighted average exchange rate, USD 1 0.976 0.927 0.962 0.920 ​ Critical judgments and accounting estimates The preparation of the Company’s Interim Condensed Consolidated Financial Statements in conformity with IAS 34 requires management to make judgments, estimates and assumptions that affect the amounts reported in the Interim Condensed Consolidated Financial Statements and accompanying notes, and the related application of accounting policies as it relates to the reported amounts of assets, liabilities, income and expenses. The areas where AC Immune has had to make judgments, estimates and assumptions relate to (i) revenue recognition on Licensing and Collaboration Agreements, (ii) clinical development accruals, (iii) net employee defined benefit liability, (iv) income taxes, (v) share-based compensation, (vi) right-of-use assets and lease liabilities and (vii) our IPR&D asset. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected. Fair value of financial assets and liabilities The Company’s financial assets and liabilities are composed of receivables, short-term and long-term financial assets, cash and cash equivalents, trade and other payables, accrued expenses and lease liabilities. The fair value of these financial instruments approximates their respective carrying values due to the short-term maturity of these instruments, and are held at their amortized cost in accordance with IFRS 9, unless otherwise explicitly noted. Accounting policies, new standards, interpretations and amendments adopted by the Company The accounting policies adopted in the preparation of the Interim Condensed Consolidated Financial Statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended December 31, 2021. The Company has not adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Such standards are not currently expected to have a material impact on the entity in the current or future reporting periods, and on foreseeable future transactions. Going concern The Company believes that it will be able to meet all of its obligations as they fall due for at least 12 months from September 30, 2022, after considering the Company’s cash position of CHF 44.5 million and short-term financial assets of CHF 96.0 million as of September 30, 2022. Hence, the unaudited Interim Condensed Consolidated Financial Statements have been prepared on a going-concern basis. To date, the Company has financed its cash requirements primarily from its public offerings, share issuances, contract revenues from license and collaboration agreements and grants. The Company is a clinical-stage company and is exposed to all the risks inherent to establishing a business. Inherent to the Company’s business are various risks and uncertainties, including the substantial uncertainty as to whether current projects will succeed. The Company’s success may depend in part upon its ability to (i) establish and maintain a strong patent position and protection, (ii) enter into collaborations with partners in the pharmaceutical and biopharmaceutical industries, (iii) successfully move its product candidates through clinical development, (iv) attract and retain key personnel and (v) acquire capital to support its operations. In addition to the foregoing, based on the Company’s current assessment, the Company does not expect any material impact on its long-term development timeline, its liquidity or ability to remain a going concern due to the worldwide spread of the Covid-19 virus. The Company continues to assess the effect on its operations by carefully monitoring the spread of Covid-19 and taking appropriate steps intended to offset any negative impacts from the Covid-19 virus.

Contract revenues and other ope

Contract revenues and other operating income	9 Months Ended
	Sep. 30, 2022
Contract revenues and other operating income
Contract revenues and other operating income	3. For the three and nine months ended September 30, 2022, AC Immune generated CHF 3.9 million in contract revenues compared with no contract revenues in the prior comparable periods, respectively. ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Life Molecular Imaging 3,934 — Total contract revenue 3,934 — ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Life Molecular Imaging 3,934 — Total contract revenue 3,934 — ​ The following table presents changes in the Company’s contract assets and liabilities during the nine months ended September 30, 2022 and 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ ​ ​ ​ the ​ ​ ​ ​ ​ Balance at ​ ​ beginning ​ ​ ​ ​ ​ the end of ​ ​ of the ​ ​ ​ ​ ​ the ​ ​ reporting ​ ​ ​ ​ ​ reporting in CHF thousands ​ period ​ Additions ​ Deductions ​ period Nine months ended September 30, 2022: Accrued income 975 1,079 (2,004) 50 Deferred income 717 733 (926) 524 ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2021: Accrued income 1,591 781 (2,249) 123 Deferred income 306 781 (933) 154 ​ 3.1 For a discussion of our licensing and collaboration agreements for the fiscal year ended December 31, 2021, please refer to Note 13.1 “Licensing and Collaboration agreements” of our Annual Report on Form 20-F for the year ended December 31, 2021 filed on March 22, 2022. During the three and nine months ended September 30, 2022 and 2021, the Company recognized the following contract revenues as a result of performance obligations satisfied in previous periods: ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period — — Performance obligations satisfied in previous periods 3,934 — ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period — — Performance obligations satisfied in previous periods 3,934 — ​ As it relates to contract revenue recognition, in September 2022, the Company earned a milestone linked to the progression of the Tau PET Tracer PI-2620 partnered with Life Molecular Imaging (LMI) into late-stage development in Alzheimer’s disease. The Company recorded EUR 4 (CHF 3.9) million in contract revenue for the three and nine months ended September 30, 2022 as a result of achieving this milestone. The Company recorded this EUR 4 (CHF 3.9) million milestone within other current receivables on its condensed consolidated balance sheets as of September 30, 2022. 3.2 Grants from the Michael J. Fox Foundation For a discussion of our Grants from the Michael J. Fox Foundation (MJFF) for the fiscal year ended December 31, 2021, please refer to Note 13.2 “Grant Income” of our Annual Report on Form 20-F for the year ended December 31, 2021 filed on March 22, 2022. In August 2022, the Company received follow-om grant funding as part of its joint arrangement with Skåne University Hospital (Skåne) in Sweden totaling USD 0.5 (CHF 0.5) million for the continued development of its alpha-synuclein PET imaging diagnostic agent. As part of this grant, AC Immune received USD 0.4 (CHF 0.4) million directly from the MJFF. Skåne will receive USD 0.1 (CHF 0.1) million of the total grant directly from the MJFF duration of the grant period. For the three months ended September 30, 2022 and 2021, the Company has recognized CHF 0.2 million in grant income, respectively. For the nine months ended September 30, 2022 and 2021, the Company has recognized CHF 0.8 million in grant income, respectively. As of September 30, 2022, the Company has recorded CHF 0.5 million in deferred income, respectively. Grant from the Target ALS Foundation For a discussion of our Grants from the Target ALS Foundation (Target ALS) for the fiscal year ended December 31, 2021, please refer to Note 13.2 “Grant Income” of our Annual Report on Form 20-F for the year ended December 31, 2021 filed on March 22, 2022. For the three and nine months ended September 30, 2022 and 2021, the Company recognized less than CHF 0.1 million and CHF 0.1 million, respectively. As of September 30, 2022, the Company has recorded less than CHF 0.1 million in deferred income.

Loss per share

Loss per share	9 Months Ended
	Sep. 30, 2022
Loss per share
Loss per share	4. ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands except for share and per share data 2022 2021 Loss per share (EPS) Numerator Net loss attributable to equity holders of the Company (13,516) (15,918) Denominator Weighted-average number of shares outstanding used to compute EPS basic and diluted attributable to equity holders 83,590,948 72,887,967 Basic and diluted loss per share for the period attributable to equity holders (0.16) (0.22) ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands except for share and per share data 2022 ​ 2021 Loss per share (EPS) ​ Numerator ​ Net loss attributable to equity holders of the Company ​ (52,004) (51,720) Denominator ​ ​ ​ Weighted-average number of shares outstanding used to compute EPS basic and diluted attributable to equity holders ​ 83,537,655 72,638,698 Basic and diluted loss per share for the period attributable to equity holders ​ (0.62) (0.71) ​ Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, ​ 2022 2021 Share options issued and outstanding 97,875 1,267,924 Restricted share awards subject to future vesting 240,923 1,244 ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, ​ ​ 2022 ​ 2021 Share options issued and outstanding 148,617 1,172,439 Restricted share awards subject to future vesting 85,829 8,106 ​

Property, plant and equipment

Property, plant and equipment	9 Months Ended
	Sep. 30, 2022
Property, plant and equipment.
Property, plant and equipment	5. The following table shows the movement in the net book values of property, plant and equipment for the nine months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ ​ IT Lab Leasehold Assets Under ​ in CHF thousands ​ Furniture ​ Equipment ​ Equipment ​ Improvements ​ Construction ​ Total Acquisition Cost Balance at December 31, 2021 263 1,756 9,142 810 695 12,666 Additions 19 149 559 165 10 902 Transfers — 4 47 646 (697) — Balance at September 30, 2022 282 1,909 9,748 1,621 8 13,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ ​ ​ ​ ​ ​ Balance at December 31, 2021 (106) (1,316) (5,739) (389) — (7,550) Depreciation expense (39) (215) (966) (111) — (1,331) Balance at September 30, 2022 (145) (1,531) (6,705) (500) — (8,881) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Amount ​ December 31, 2021 157 440 3,403 421 695 5,116 September 30, 2022 137 378 3,043 1,121 8 4,687 ​ AC Immune continues to enhance its laboratory equipment to support its R&D functions and IT equipment. This effort has continued since the year ended December 31, 2021, with CHF 0.8 million invested in lab equipment, including the expansion of our leased lab space, and IT equipment, representing an increase of 7.0% from the beginning of the year in these categories.

Right-of-use assets, long-term

Right-of-use assets, long-term financial assets and lease liabilities	9 Months Ended
	Sep. 30, 2022
Right-of-use assets, long-term financial assets and lease liabilities
Right-of-use assets, long-term financial assets and lease liabilities	6. AC Immune recognized no additions for its right-of-use of leased assets for the nine months ended September 30, 2022. Regarding lease liabilities, the amortization depends on the rate implicit in the contract or the incremental borrowing rate for the respective lease component. The weighted averages of the incremental borrowing rates are 2.5% for buildings, 5.3% for office equipment and 2.6% for IT equipment, respectively. The following table shows the movements in the net book values of right-of-use of leased assets for the nine months ended September 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Office IT ​ in CHF thousands ​ Buildings ​ Equipment ​ Equipment ​ Total Balance as of December 31, 2021 2,776 98 40 2,914 Depreciation (395) (17) (11) (423) Balance as of September 30, 2022 2,381 81 29 2,491 ​ There are no variable lease payments that are not included in the measurement of lease obligations. All extension options have been included in the measurement of lease obligations. For the three and nine months ended September 30, 2022, and 2021, the impact on the Company’s condensed consolidated statements of income/(loss) and the condensed consolidated statements of cash flows is as follows: ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Statements of income/(loss) Depreciation of right-of-use assets 142 141 Interest expense on lease liabilities 17 17 Expense for short-term leases and leases of low value 212 231 Total 371 389 ​ ​ ​ ​ ​ Statements of cash flows ​ Total cash outflow for leases 371 389 ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Statements of income/(loss) Depreciation of right-of-use assets 423 367 Interest expense on lease liabilities 53 47 Expense for short-term leases and leases of low value 559 587 Total 1,035 1,001 ​ ​ ​ ​ ​ Statements of cash flows ​ Total cash outflow for leases 1,037 1,001 ​ The following table presents the contractual undiscounted cash flows for lease obligations as of September 30, 2022: ​ ​ ​ ​ ​ ​ As of in CHF thousands September 30, 2022 Less than one year 638 1-3 years 1,238 3-5 years 748 Total 2,624 ​ The Company also has deposits in escrow accounts totaling CHF 0.4 million for leases of the Company’s premises as of both September 30, 2022 and December 31, 2021, respectively. These deposits are presented in Long-term financial assets on the Company’s condensed consolidated balance sheets.

Net employee defined benefit li

Net employee defined benefit liabilities	9 Months Ended
	Sep. 30, 2022
Net employee defined benefit liabilities
Net employee defined benefit liabilities	7. The Company used its independent actuaries to update the calculation of the defined benefit obligation and plan assets in Q2 2022. For the three and nine months ended September 30, 2022, the Company recognized a remeasurement gain of CHF 0.2 million and CHF 7.6 million on the Company’s condensed consolidated statements of comprehensive income/(loss) related to its net employee defined benefit liability, respectively. The primary component of the remeasurement gain as for the nine months period ended September 30, 2022 relates to the increase in the discount rate by 195 basis points to 2.25% from 0.3% as of December 31, 2021. The resulting impact as a result of the asset ceiling test is to record nil for the net employee defined benefit liability on the Company’s condensed consolidated balance sheets as of September 30, 2022 compared to CHF 7.1 million as of December 31, 2021.

Accrued expenses

Accrued expenses	9 Months Ended
	Sep. 30, 2022
Accrued expenses
Accrued expenses	8. ​ ​ ​ ​ ​ ​ ​ As of ​ September 30, December 31, in CHF thousands ​ 2022 ​ 2021 Accrued Expenses 10,976 16,736 Total 10,976 16,736 ​ The Company paid CHF 3.7 million in the period for a previous accrual associated with our cost sharing arrangement with Janssen and CHF 2.3 million related to performance-related remuneration for the nine months ended September 30, 2022.

Intangible assets

Intangible assets	9 Months Ended
	Sep. 30, 2022
Intangible assets
Intangible assets	9. AC Immune’s acquired IPR&D asset is a clinically-validated active vaccine candidate for the treatment of Parkinson’s disease. The asset is not yet ready for use until the asset obtains market approval and is therefore not currently being amortized. The carrying amount and net book value are detailed below: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ As of December 31, 2021 ​ Gross ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ Net Book ​ Carrying ​ Accumulated ​ Net Book In CHF thousands ​ Amount ​ Amortization ​ Value ​ Amount ​ Amortization ​ Value Acquired IPR&D Asset ​ 50,416 — 50,416 50,416 — 50,416 Total Intangible Assets ​ 50,416 — 50,416 50,416 — 50,416 ​ In accordance with IAS 36 Impairment of Assets Fair Value Measurement

Prepaid expenses

Prepaid expenses	9 Months Ended
	Sep. 30, 2022
Prepaid expenses
Prepaid expenses	10. Prepaid expenses include prepaid R&D costs, administrative costs and employee social obligations totaling CHF 2.9 million and CHF 3.0 million as of September 30, 2022 and December 31, 2021, respectively.

Cash and cash equivalents and f

Cash and cash equivalents and financial assets	9 Months Ended
	Sep. 30, 2022
Cash and cash equivalents and financial assets
Cash and cash equivalents and financial assets	11. The following table summarizes AC Immune’s cash and cash equivalents and short-term financial assets as of September 30, 2022 and December 31, 2021: ​ ​ ​ ​ ​ ​ ​ As of in CHF thousands ​ September 30, 2022 December 31, 2021 Cash and cash equivalents 44,503 82,216 Total 44,503 82,216 ​ ​ ​ ​ ​ ​ ​ As of in CHF thousands ​ September 30, 2022 December 31, 2021 Short-term financial assets due in one year or less 96,000 116,000 Total 96,000 116,000 ​ For the nine months ended September 30, 2022, the Company sold a net CHF 20.0 million in short-term financial assets compared with purchasing a net CHF 30.0 million for the prior period.

Treasury shares

Treasury shares	9 Months Ended
	Sep. 30, 2022
Treasury shares,
Treasury shares	12. For a discussion of our at the market offering program with Jefferies LLC for the fiscal year ended December 31, 2021, please refer to Note 11 “Share capital” of our Annual Report on Form 20-F for the year ended December 31, 2021 filed on March 22, 2022. As of September 30, 2022, the Company has 6,221,617 treasury shares remaining.

Finance result, net

Finance result, net	9 Months Ended
	Sep. 30, 2022
Finance result, net
Finance result, net	13. For the three months ended September 30, 2022 and 2021, AC Immune recorded less than CHF 0.1 million in net financial losses and CHF 4.4 million in net financial gains, respectively. The Company recorded CHF 4.4 million in finance income associated with the change in fair value of derivative financial assets in the prior period which did not repeat in the current period. For the nine months ended September 30, 2022 and 2021, the Company recorded CHF 0.2 million and CHF 4.5 million in net financial gains, respectively. The Company recorded CHF 4.4 million in finance income associated with the change in fair value of derivative financial assets in the prior period which did not repeat in the current period.

Subsequent events

Subsequent events	9 Months Ended
	Sep. 30, 2022
Subsequent events
Subsequent events	14. Management has evaluated subsequent events after the balance sheet date, through the issuance of these Interim Condensed Consolidated Financial Statements, for appropriate accounting and disclosures. The Company has determined that there were no other such events that warrant disclosure or recognition in these Interim Condensed Consolidated Financial Statements.

Basis of preparation and chan_2

Basis of preparation and changes to the Company's accounting policies (Policies)	9 Months Ended
	Sep. 30, 2022
Basis of preparation and changes to the Company' accounting policies
Functional and reporting currency	Functional and reporting currency These Interim Condensed Consolidated Financial Statements and accompanying notes are presented in Swiss Francs (CHF), which is AC Immune SA’s functional currency and the Group’s reporting currency. The Company’s subsidiary has a functional currency of the US Dollar (USD). The following exchange rates have been used for the translation of the financial statements of AC Immune USA: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months For the Nine Months ​ ​ Ended September 30, ​ Ended September 30, ​ ​ 2022 2021 ​ 2022 2021 CHF/USD Closing rate, USD 1 0.985 0.943 0.985 0.943 Weighted average exchange rate, USD 1 0.976 0.927 0.962 0.920
Critical judgments and accounting estimates	Critical judgments and accounting estimates The preparation of the Company’s Interim Condensed Consolidated Financial Statements in conformity with IAS 34 requires management to make judgments, estimates and assumptions that affect the amounts reported in the Interim Condensed Consolidated Financial Statements and accompanying notes, and the related application of accounting policies as it relates to the reported amounts of assets, liabilities, income and expenses. The areas where AC Immune has had to make judgments, estimates and assumptions relate to (i) revenue recognition on Licensing and Collaboration Agreements, (ii) clinical development accruals, (iii) net employee defined benefit liability, (iv) income taxes, (v) share-based compensation, (vi) right-of-use assets and lease liabilities and (vii) our IPR&D asset. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.
Fair value of financial assets and liabilities	Fair value of financial assets and liabilities The Company’s financial assets and liabilities are composed of receivables, short-term and long-term financial assets, cash and cash equivalents, trade and other payables, accrued expenses and lease liabilities. The fair value of these financial instruments approximates their respective carrying values due to the short-term maturity of these instruments, and are held at their amortized cost in accordance with IFRS 9, unless otherwise explicitly noted.
Accounting policies, new standards, interpretations and amendments adopted by the Company	Accounting policies, new standards, interpretations and amendments adopted by the Company The accounting policies adopted in the preparation of the Interim Condensed Consolidated Financial Statements are consistent with those followed in the preparation of the Company’s annual consolidated financial statements for the year ended December 31, 2021. The Company has not adopted any other standard, interpretation or amendment that has been issued but is not yet effective. Such standards are not currently expected to have a material impact on the entity in the current or future reporting periods, and on foreseeable future transactions.

Basis of preparation and chan_3

Basis of preparation and changes to the Company's accounting policies (Tables)	9 Months Ended
	Sep. 30, 2022
Basis of preparation and changes to the Company' accounting policies
Schedule of exchange rates used for translation of financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Three Months For the Nine Months ​ ​ Ended September 30, ​ Ended September 30, ​ ​ 2022 2021 ​ 2022 2021 CHF/USD Closing rate, USD 1 0.985 0.943 0.985 0.943 Weighted average exchange rate, USD 1 0.976 0.927 0.962 0.920

Contract revenues and other o_2

Contract revenues and other operating income (Tables)	9 Months Ended
	Sep. 30, 2022
Contract revenues and other operating income
Schedule of contract revenues	​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Life Molecular Imaging 3,934 — Total contract revenue 3,934 — ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Life Molecular Imaging 3,934 — Total contract revenue 3,934 —
Schedule of changes in the Company's contract assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ ​ ​ ​ ​ the ​ ​ ​ ​ ​ Balance at ​ ​ beginning ​ ​ ​ ​ ​ the end of ​ ​ of the ​ ​ ​ ​ ​ the ​ ​ reporting ​ ​ ​ ​ ​ reporting in CHF thousands ​ period ​ Additions ​ Deductions ​ period Nine months ended September 30, 2022: Accrued income 975 1,079 (2,004) 50 Deferred income 717 733 (926) 524 ​ ​ ​ ​ ​ ​ ​ ​ ​ Nine months ended September 30, 2021: Accrued income 1,591 781 (2,249) 123 Deferred income 306 781 (933) 154
Schedule of contract revenue of performance obligations satisfied	​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period — — Performance obligations satisfied in previous periods 3,934 — ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Revenue recognized in the period from: Amounts included in the contract liability at the beginning of the period — — Performance obligations satisfied in previous periods 3,934 —

Loss per share (Tables)

Loss per share (Tables)	9 Months Ended
	Sep. 30, 2022
Loss per share
Schedule of earnings per share	​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands except for share and per share data 2022 2021 Loss per share (EPS) Numerator Net loss attributable to equity holders of the Company (13,516) (15,918) Denominator Weighted-average number of shares outstanding used to compute EPS basic and diluted attributable to equity holders 83,590,948 72,887,967 Basic and diluted loss per share for the period attributable to equity holders (0.16) (0.22) ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands except for share and per share data 2022 ​ 2021 Loss per share (EPS) ​ Numerator ​ Net loss attributable to equity holders of the Company ​ (52,004) (51,720) Denominator ​ ​ ​ Weighted-average number of shares outstanding used to compute EPS basic and diluted attributable to equity holders ​ 83,537,655 72,638,698 Basic and diluted loss per share for the period attributable to equity holders ​ (0.62) (0.71)
Schedule of antidilutive securities	Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows: ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, ​ 2022 2021 Share options issued and outstanding 97,875 1,267,924 Restricted share awards subject to future vesting 240,923 1,244 ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, ​ ​ 2022 ​ 2021 Share options issued and outstanding 148,617 1,172,439 Restricted share awards subject to future vesting 85,829 8,106

Property, plant and equipment (

Property, plant and equipment (Tables)	9 Months Ended
	Sep. 30, 2022
Property, plant and equipment.
Schedule of movement in the net book values of property, plant and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ ​ ​ IT Lab Leasehold Assets Under ​ in CHF thousands ​ Furniture ​ Equipment ​ Equipment ​ Improvements ​ Construction ​ Total Acquisition Cost Balance at December 31, 2021 263 1,756 9,142 810 695 12,666 Additions 19 149 559 165 10 902 Transfers — 4 47 646 (697) — Balance at September 30, 2022 282 1,909 9,748 1,621 8 13,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Accumulated depreciation ​ ​ ​ ​ ​ ​ Balance at December 31, 2021 (106) (1,316) (5,739) (389) — (7,550) Depreciation expense (39) (215) (966) (111) — (1,331) Balance at September 30, 2022 (145) (1,531) (6,705) (500) — (8,881) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying Amount ​ December 31, 2021 157 440 3,403 421 695 5,116 September 30, 2022 137 378 3,043 1,121 8 4,687

Right-of-use assets, long-ter_2

Right-of-use assets, long-term financial assets and lease liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Right-of-use assets, long-term financial assets and lease liabilities
Schedule of the movements in the net value book value of right-of-use assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Office IT ​ in CHF thousands ​ Buildings ​ Equipment ​ Equipment ​ Total Balance as of December 31, 2021 2,776 98 40 2,914 Depreciation (395) (17) (11) (423) Balance as of September 30, 2022 2,381 81 29 2,491
Schedule of impact on condensed consolidated statements of income/(loss) and cash flows	​ ​ ​ ​ ​ ​ ​ ​ For the Three Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Statements of income/(loss) Depreciation of right-of-use assets 142 141 Interest expense on lease liabilities 17 17 Expense for short-term leases and leases of low value 212 231 Total 371 389 ​ ​ ​ ​ ​ Statements of cash flows ​ Total cash outflow for leases 371 389 ​ ​ ​ ​ ​ ​ ​ ​ For the Nine Months ​ ​ Ended September 30, in CHF thousands 2022 2021 Statements of income/(loss) Depreciation of right-of-use assets 423 367 Interest expense on lease liabilities 53 47 Expense for short-term leases and leases of low value 559 587 Total 1,035 1,001 ​ ​ ​ ​ ​ Statements of cash flows ​ Total cash outflow for leases 1,037 1,001
Schedule of contractual undiscounted cash flows for lease obligations	​ ​ ​ ​ ​ ​ As of in CHF thousands September 30, 2022 Less than one year 638 1-3 years 1,238 3-5 years 748 Total 2,624

Accrued expenses (Tables)

Accrued expenses (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued expenses
Schedule of accrued expenses	​ ​ ​ ​ ​ ​ ​ As of ​ September 30, December 31, in CHF thousands ​ 2022 ​ 2021 Accrued Expenses 10,976 16,736 Total 10,976 16,736

Intangible assets (Tables)

Intangible assets (Tables)	9 Months Ended
	Sep. 30, 2022
Intangible assets
Schedule of net book value of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of September 30, 2022 ​ As of December 31, 2021 ​ Gross ​ ​ Gross ​ ​ ​ ​ Carrying ​ Accumulated ​ Net Book ​ Carrying ​ Accumulated ​ Net Book In CHF thousands ​ Amount ​ Amortization ​ Value ​ Amount ​ Amortization ​ Value Acquired IPR&D Asset ​ 50,416 — 50,416 50,416 — 50,416 Total Intangible Assets ​ 50,416 — 50,416 50,416 — 50,416

Cash and cash equivalents and_2

Cash and cash equivalents and financial assets (Tables)	9 Months Ended
	Sep. 30, 2022
Cash and cash equivalents and financial assets
Cash and cash equivalents and short-term financial assets	​ ​ ​ ​ ​ ​ ​ As of in CHF thousands ​ September 30, 2022 December 31, 2021 Cash and cash equivalents 44,503 82,216 Total 44,503 82,216 ​ ​ ​ ​ ​ ​ ​ As of in CHF thousands ​ September 30, 2022 December 31, 2021 Short-term financial assets due in one year or less 96,000 116,000 Total 96,000 116,000

Corporate information (Details)

Corporate information (Details)	Sep. 30, 2022 item
Corporate information
Number of proprietary technology platforms	2

Basis of preparation and chan_4

Basis of preparation and changes to the Company's accounting policies - Functional and reporting currency (Details) - SFr / $	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Functional and reporting currency [Abstract]
Closing rate, USD 1	0.985	0.943	0.985	0.943
Weighted average exchange rate, USD 1	0.976	0.927	0.962	0.920

Basis of preparation and chan_5

Basis of preparation and changes to the Company's accounting policies - Going concern (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Going concern [Abstract]
Company's cash position	SFr 44,503	SFr 82,216	SFr 93,584	SFr 160,893
Short-term financial assets	SFr 96,000	SFr 116,000

Summary of contract revenues an

Summary of contract revenues and other operating income (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Contract revenues
Total contract revenue	SFr 3,934	SFr 0	SFr 3,934	SFr 0
License and collaboration agreement of 2014, Life Molecular Imaging [Member]
Contract revenues
Total contract revenue	SFr 3,934		SFr 3,934

Contract revenues and other o_3

Contract revenues and other operating income - Changes in Contract Assets and Liabilities (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Contract revenues and other operating income
Contract revenue	SFr 3,934	SFr 0	SFr 3,934	SFr 0
Accrued income, beginning balance			975	1,591
Accrued income, additions			1,079	781
Accrued income, deductions			(2,004)	(2,249)
Accrued income, ending balance	50	123	50	123
Deferred income, beginning balance			717	306
Deferred income, additions			733	781
Deferred income, deductions			(926)	(933)
Deferred income, ending balance	SFr 524	SFr 154	SFr 524	SFr 154

Contract revenues and other o_4

Contract revenues and other operating income - Licensing and collaboration agreement (Details) SFr in Thousands, € in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022 CHF (SFr)	Sep. 30, 2022 EUR (€)	Sep. 30, 2021 CHF (SFr)	Sep. 30, 2022 CHF (SFr)	Sep. 30, 2022 EUR (€)	Sep. 30, 2021 CHF (SFr)	Sep. 30, 2022 EUR (€)
Disclosure of disaggregation of revenue from contracts with customers [line items]
Performance obligations satisfied in previous periods	SFr 3,934			SFr 3,934
Contract revenue	3,934		SFr 0	3,934		SFr 0
License and collaboration agreement of 2014, Life Molecular Imaging [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract revenue	3,934			3,934
License and collaboration agreement of 2014, Life Molecular Imaging [Member] | Tau PET Tracer PI-2620
Disclosure of disaggregation of revenue from contracts with customers [line items]
Contract revenue	3,900	€ 4		3,900	€ 4
Other current receivables	SFr 3,900			SFr 3,900			€ 4

Contract revenues and other o_5

Contract revenues and other operating income - Grants from the Michael J. Fox Foundation (Details) SFr in Thousands, $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 31, 2022 CHF (SFr)	Aug. 31, 2022 USD ($)	Sep. 30, 2022 CHF (SFr)	Sep. 30, 2021 CHF (SFr)	Sep. 30, 2022 CHF (SFr)	Sep. 30, 2021 CHF (SFr)	Dec. 31, 2021 CHF (SFr)	Dec. 31, 2020 CHF (SFr)
Contract revenues
Revenue from contracts with customers			SFr 3,934	SFr 0	SFr 3,934	SFr 0
Deferred income			524	154	524	154	SFr 717	SFr 306
Grant from Michael J. Fox Foundation [Member]
Contract revenues
Revenue from contracts with customers			200	SFr 200	800	SFr 800
Deferred income			SFr 500		SFr 500
Grant from Michael J. Fox Foundation [Member] | Skane University Hospital
Contract revenues
Follow-on grant funding received	SFr 100	$ 0.1
Grant from Michael J. Fox Foundation [Member] | Alpha-synuclein PET imaging diagnostic agent
Contract revenues
Follow-on grant funding received, total for joint arrangement	500	0.5
Follow-on grant funding received	SFr 400	$ 0.4

Contract revenues and other o_6

Contract revenues and other operating income - Grant from the Target ALS Foundation (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Contract revenues
Revenue from contracts with customers	SFr 3,934	SFr 0	SFr 3,934	SFr 0
Deferred income	524	154	524	154	SFr 717	SFr 306
Grant from Target ALS Foundation [Member] | Maximum
Contract revenues
Revenue from contracts with customers	100	SFr 100	100	SFr 100
Deferred income	SFr 100		SFr 100

Loss per share (Details)

Loss per share (Details) - CHF (SFr) SFr / shares in Units, SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net loss attributable to equity holders of the Company	SFr (13,516)	SFr (15,918)	SFr (52,004)	SFr (51,720)
Denominator
Weighted-average number of shares outstanding used to compute EPS basic attributable to equity holders	83,590,948	72,887,967	83,537,655	72,638,698
Weighted-average number of shares outstanding used to compute EPS diluted attributable to equity holders	83,590,948	72,887,967	83,537,655	72,638,698
Basic loss per share for the period attributable to equity holders	SFr (0.16)	SFr (0.22)	SFr (0.62)	SFr (0.71)
Diluted loss per share for the period attributable to equity holders	SFr (0.16)	SFr (0.22)	SFr (0.62)	SFr (0.71)
Antidilutive securities
Share options issued and outstanding	97,875	1,267,924	148,617	1,172,439
Restricted share awards subject to future vesting	240,923	1,244	85,829	8,106

Property, plant and equipment_2

Property, plant and equipment (Details) SFr in Thousands	9 Months Ended
	Sep. 30, 2022 CHF (SFr)
Property, plant and equipment:
Property, plant and equipment, beginning of period	SFr 5,116
Property, plant and equipment, end of period	4,687
Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	12,666
Additions	902
Property, plant and equipment, end of period	13,568
Accumulated depreciation
Property, plant and equipment:
Property, plant and equipment, beginning of period	(7,550)
Depreciation expense	(1,331)
Property, plant and equipment, end of period	(8,881)
Furniture
Property, plant and equipment:
Property, plant and equipment, beginning of period	157
Property, plant and equipment, end of period	137
Furniture | Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	263
Additions	19
Property, plant and equipment, end of period	282
Furniture | Accumulated depreciation
Property, plant and equipment:
Property, plant and equipment, beginning of period	(106)
Depreciation expense	(39)
Property, plant and equipment, end of period	(145)
IT Equipment
Property, plant and equipment:
Property, plant and equipment, beginning of period	440
Property, plant and equipment, end of period	378
IT Equipment | Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	1,756
Additions	149
Transfers	4
Property, plant and equipment, end of period	1,909
IT Equipment | Accumulated depreciation
Property, plant and equipment:
Property, plant and equipment, beginning of period	(1,316)
Depreciation expense	(215)
Property, plant and equipment, end of period	(1,531)
Lab Equipment
Property, plant and equipment:
Property, plant and equipment, beginning of period	3,403
Additions	800
Property, plant and equipment, end of period	SFr 3,043
Percentage of increase in equipment	7%
Lab Equipment | Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	SFr 9,142
Additions	559
Transfers	47
Property, plant and equipment, end of period	9,748
Lab Equipment | Accumulated depreciation
Property, plant and equipment:
Property, plant and equipment, beginning of period	(5,739)
Depreciation expense	(966)
Property, plant and equipment, end of period	(6,705)
Leasehold Improvements
Property, plant and equipment:
Property, plant and equipment, beginning of period	421
Property, plant and equipment, end of period	1,121
Leasehold Improvements | Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	810
Additions	165
Transfers	646
Property, plant and equipment, end of period	1,621
Leasehold Improvements | Accumulated depreciation
Property, plant and equipment:
Property, plant and equipment, beginning of period	(389)
Depreciation expense	(111)
Property, plant and equipment, end of period	(500)
Assets under construction
Property, plant and equipment:
Property, plant and equipment, beginning of period	695
Property, plant and equipment, end of period	8
Assets under construction | Acquisition Cost
Property, plant and equipment:
Property, plant and equipment, beginning of period	695
Additions	10
Transfers	(697)
Property, plant and equipment, end of period	SFr 8

Right-of-use assets, long-ter_3

Right-of-use assets, long-term financial assets and lease liabilities (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Right-of-use assets and lease liabilities:
Additions and remeasurements			SFr 0
Right-of-use of leased assets:
Balance, beginning of period			2,914
Depreciation	SFr (142)	SFr (141)	(423)	SFr (367)
Balance, end of period	SFr 2,491		2,491
Variable lease payments that are not included in the measurement of lease obligations			SFr 0
Buildings
Right-of-use assets and lease liabilities:
Weighted average incremental borrowing rate	2.50%		2.50%
Right-of-use of leased assets:
Balance, beginning of period			SFr 2,776
Depreciation			(395)
Balance, end of period	SFr 2,381		SFr 2,381
Office Equipment
Right-of-use assets and lease liabilities:
Weighted average incremental borrowing rate	5.30%		5.30%
Right-of-use of leased assets:
Balance, beginning of period			SFr 98
Depreciation			(17)
Balance, end of period	SFr 81		SFr 81
IT Equipment
Right-of-use assets and lease liabilities:
Weighted average incremental borrowing rate	2.60%		2.60%
Right-of-use of leased assets:
Balance, beginning of period			SFr 40
Depreciation			(11)
Balance, end of period	SFr 29		SFr 29

Right-of-use assets, long-ter_4

Right-of-use assets, long-term financial assets and lease liabilities - Statement of income/(loss) and cash flow (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statements of income/(loss) and cash flows
Depreciation of right-of-use assets	SFr 142	SFr 141	SFr 423	SFr 367
Interest expense on lease liabilities	17	17	53	47
Expense for short-term leases and leases of low value	212	231	559	587
Total	371	389	1,035	1,001
Total cash outflow for leases	SFr 371	SFr 389	SFr 1,037	SFr 1,001

Right-of-use assets, long-ter_5

Right-of-use assets, long-term financial assets and lease liabilities - Contractual undiscounted cash flows for lease obligations (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021
Contractual undiscounted cash flows for lease liabilities:
Contractual undiscounted cash flows for lease liabilities	SFr 2,624
Escrow deposits	400	SFr 400
Less than one year
Contractual undiscounted cash flows for lease liabilities:
Contractual undiscounted cash flows for lease liabilities	638
1-3 years
Contractual undiscounted cash flows for lease liabilities:
Contractual undiscounted cash flows for lease liabilities	1,238
3-5 years
Contractual undiscounted cash flows for lease liabilities:
Contractual undiscounted cash flows for lease liabilities	SFr 748

Net employee defined benefit _2

Net employee defined benefit liabilities (Details) - CHF (SFr) SFr in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Disclosure of defined benefit plans [line items]
Remeasurement gain	SFr 178	SFr 7,559
Increase in discount rate, defined benefit plans		1.95%
Discount rate	2.25%	2.25%	0.30%
Net assets of employee defined benefit liability	SFr 0	SFr 0	SFr 7,100

Accrued expenses (Details)

Accrued expenses (Details) - CHF (SFr) SFr in Thousands	9 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Trade and other payables and accrued liabilities [Line Items]
Accrued Expenses	SFr 10,976	SFr 16,736
Total	10,976	SFr 16,736
Payments for performance-related remuneration	2,300
Janssen
Trade and other payables and accrued liabilities [Line Items]
Payments for previous accruals	SFr 3,700

Intangible assets (Details)

Intangible assets (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021
Disclosure of intangible assets material to entity [abstract]
Intangible Assets	SFr 50,416	SFr 50,416
Gross Carrying Amount
Disclosure of intangible assets material to entity [abstract]
Intangible Assets	50,416	50,416
Acquired IPR&D Asset
Disclosure of intangible assets material to entity [abstract]
Intangible Assets	50,416	50,416
Acquired IPR&D Asset | Gross Carrying Amount
Disclosure of intangible assets material to entity [abstract]
Intangible Assets	SFr 50,416	SFr 50,416

Prepaid expenses (Details)

Prepaid expenses (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021
Prepaid expenses
Prepaid expenses including other costs	SFr 2,888	SFr 3,015

Cash and cash equivalents and_3

Cash and cash equivalents and financial assets, Cash and cash equivalents (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Cash and cash equivalents [Abstract]
Cash and cash equivalents	SFr 44,503	SFr 82,216	SFr 93,584	SFr 160,893

Cash and cash equivalents and_4

Cash and cash equivalents and financial assets, Cash and cash equivalents and short-term financial assets (Details) - CHF (SFr) SFr in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents and financial assets
Short-term financial assets due in one year or less	SFr 96,000	SFr 116,000

Cash and cash equivalents and_5

Cash and cash equivalents and financial assets (Details) SFr in Millions	9 Months Ended
	Sep. 30, 2022 CHF (SFr)
Cash and cash equivalents and financial assets
Sale of short-term financial assets	SFr 20
Purchase of short-term financial assets	SFr 30

Treasury shares (Details)

Treasury shares (Details)	Sep. 30, 2022 shares
Treasury shares.
Disclosure of classes of share capital [line items]
Number of treasury shares outstanding	6,221,617

Finance results, net (Details)

Finance results, net (Details) - CHF (SFr) SFr in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finance result, net
Net financial gains (losses)	SFr (49)	SFr 4,365	SFr 157	SFr 4,503
Finance income associated with change in fair value of derivative financial assets	11	SFr 4,424	SFr 11	SFr 4,424
Maximum
Finance result, net
Net financial gains (losses)	SFr (100)