ABATE Study Adds Fourth Cohort with Adjuvant; Still Waiting on Takeda Opt-in

研报英文原文证据摘录

ABATE Study Adds Fourth Cohort with Adjuvant; Still Waiting on Takeda Opt-in

USA | Biotechnology

AC Immune EquityJuneResearch30, 2026

FIRST VIEWABATE Study Adds Fourth Cohort with

RATING BUYAdjuvant; Still Waiting on Takeda Opt-in

PRICE $2.66^

Conclusion

ACIU reported an interim 12-month update for the Phase 1b/2 ABATE trial PRICE TARGET | % TO PT $5.40 | +103%

investigating ACI-24 in prodromal Alzheimer's, demonstrating a clean safety 52W HIGH-LOW $4.00 - $1.65

profile, alongside evidence of target engagement, reinforcing its positioning FLOAT (%) | ADV MM (USD) 54.9% | 0.74

as a differentiated immunotherapy approach in the amyloid space. Across MARKET CAP CHF245.2M | $303.2M

the first three cohorts (n=74), ACI-24 was generally well-tolerated with no TICKER ACIU

^Prior trading day's closing price unless otherwise

amyloid-related imaging abnormalities-edema (ARIA-E) signal observed to noted.

date, while anti-Aβ antibody responses were detected across all dose levels

with a dose-response relationship. However, the nature of the immune

response suggests room for further optimisation, prompting initiation of

a fourth cohort (AD4) incorporating an additional adjuvant designed to

enhance immunogenicity and, by extension, potential plaque clearance. To

us, this signals that clinically meaningful plaque removal in AD1-3 perhaps

was not achieved. With no opt-in yet, we may need to wait for Takeda to see

data from the full AD4 cohort.

Detail

Strategically, ABATE remains well-supported through its partnership with

Takeda, which has already provided $112m in upfront and near-term

milestone payments and retains an option for global development and

commercialization, with total potential deal value of c.$2.1bn plus tiered

double-digit royalties.