Business
Acumen Pharmaceuticals Reports Financial Results for Full Year Ended December 31, 2021 and Business Highlights
Acumen is progressing ACU193, the first monoclonal antibody designed to selectively target toxic amyloid-beta oligomers (AβOs) to enter clinical testing
About this update from Acumen Pharmaceuticals, Inc.
[{"type":"text","content":"Acumen is progressing ACU193, the first monoclonal antibody designed to selectively target toxic amyloid-beta oligomers (AβOs) to enter clinical testing Currently enrolling INTERCEPT-AD, a multi-center, randomized, double-blind, placebo-controlled, single- and multiple-ascending dose Phase 1 clinical trial of ACU193 in patients with early Alzheimer’s diseaseINTERCEPT-AD clinical trial design was presented at 2021 Clinical Trials on Alzheimer’s Disease (CTAD) Conference in November 2021Topline results from INTERCEPT-AD now expected in the first half of 2023 Acumen team expanded and Kim Drapkin appointed to the Board of Directors to enhance depth and breadth of expertise at the company $225.9 million in cash, cash equivalents and marketable securities at December 31, 2021, which is expected to provide cash runway through 2025 Company to host conference call and webcast today at 4:30 pm ET CHARLOTTESVILLE, Va. and CARMEL, Ind., March 28, 2022 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company focused on the development of novel targeted therapeutics for Alzheimer’s disease (AD), today reported financial results for the full year ended December 31, 2021, and provided recent business highlights. “After a transformational year in 2021, highlighted by multiple accomplishments, including our IPO, Acumen is completely focused on executing our business strategy with a primary emphasis on INTERCEPT-AD, our Phase 1 clinical trial investigating the safety, tolerability, pharmacokinetics and target engagement of ACU193 in early Alzheimer’s patients. Based on current progress in the trial and our current plan to report a dataset inclusive of Cohort 7 Day 168 follow up, we now expect to report topline results in the first half of 2023. We have experienced slower than anticipated enrollment due to the COVID-19 pandemic, however our strong cash position has provided us the ability to expand the study footprint to support recruitment and to include a longer follow-up period prior to read out,” said Daniel O’Connell, President and Chief Executive Officer at Acumen. “With the proceeds from our successful IPO last year, we estimate our existing cash, cash equivalents and marketable securities will be sufficient to fund our operating expenses and capital requirements through 2025 based on our cu...