AC Immune Rises 13.9% on Lilly Deal

AC Immune shares surged 13.9% after announcing an amended collaboration with Eli Lilly for Tau aggregation inhibitor small molecules.
The amendment provides a CHF10 million upfront payment and potential milestones exceeding CHF1.7 billion plus low‑double‑digit royalties.
AC Immune plans to start IND‑enabling studies in H1 2026 and expects oral Morphomer Tau candidates to target neurodegenerative diseases.
CEO Andrea Pfeifer highlighted breakthroughs, while Leerink analyst Marc Goodman kept an Outperform rating with a $9 price target.