Stock Alert: AC Immune Tanks 40% As Alzheimer's Drug Fails To Meet Primary Endpoint

(RTTNews) - Shares of AC Immune SA (ACIU) are losing over 40% on Wednesday morning after its mid-stage study evaluating Semorinemab in early alzheimer's disease failed to meet primary goals.

ACIU is currently trading at $4.96, down $3.76 or 43.12%, on the Nasdaq.

AC Immune said its partner Genentech, a member of the Roche Group, has informed top line results from a Phase 2 trial of the anti-Tau antibody, semorinemab, in early Alzheimer's disease which show that semorinemab did not meet its primary efficacy endpoint of reducing decline on Clinical Dementia Rating-Sum of Boxes compared to placebo.

Two secondary endpoints, Alzheimer's Disease Assessment Scale-Cognitive Subscale 13 and Alzheimer's Disease Cooperative Study Group - Activities of Daily Living Inventory were also not met.