The stock of AC Immune SA ACIU + 29.29% soared by 13% in premarket trading on Tuesday after the Swiss biotech announced that it had received fast-track designation from the U.S. Food and Drug Administration for a treatment for Alzheimer’s. ACI-24.060 is a candidate for active immunotherapy against amyloid beta (Abeta). The designation is intended to speed up the approval of treatments that address serious medical needs. This move was made after the FDA approved the company’s investigational New Drug Application, which will enable it to expand its current Phase 1b/2 ABATE Study in individuals with Down Syndrome and Alzheimer’s Disease to the U.S. The company has already dosed the first person with Down Syndrome. The company expects to have safety and immunogenicity results in both cohorts by the second half 2023. AC Immune stock has fallen 2% year-to-date, while S&P 500 SPX, +0.40% is up 13%.