Business
Acumen Pharmaceuticals Reports Financial Results for Full Year Ended December 31, 2022 and Business Highlights
INTERCEPT-AD, a Phase 1 clinical trial of ACU193 in patients with early Alzheimer’s disease, completed enrollment in February 2023 Topline data expected in
About this update from Acumen Pharmaceuticals, Inc.
[{"type":"text","content":"INTERCEPT-AD, a Phase 1 clinical trial of ACU193 in patients with early Alzheimer’s disease, completed enrollment in February 2023 Topline data expected in the third quarter of 2023 Cash, cash equivalents and marketable securities of $193.4 million as of Dec. 31, 2022 expected to be sufficient to support clinical and operational goals through 2025Company to host conference call and webcast today at 8:00 a.m. ET CHARLOTTESVILLE, Va. and CARMEL, Ind., March 27, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company focused on developing a novel therapeutic that targets toxic soluble amyloid beta oligomers (AβOs) and is designed for the treatment of Alzheimer’s disease (AD), today reported financial results for the full year ended December 31, 2022 and provided a business update. “2022 was a year of significant accomplishment as we advanced the clinical development of ACU193, our novel therapeutic targeting toxic amyloid beta oligomers for the treatment of Alzheimer’s Disease. We recently completed enrollment in our Phase I INTERCEPT-AD trial and are encouraged by preliminary pharmacokinetic and safety data that support ACU193’s differentiated product profile,” said Daniel O’Connell, President and Chief Executive Officer of Acumen. “We believe that our continued execution will drive Acumen’s momentum during 2023. Our Phase 1 topline results expected in the third quarter and anticipated interaction with FDA in the fourth quarter of 2023 will help inform our next phase of clinical development. With cash runway expected through 2025, a strong scientific foundation, and an increasingly attractive market environment, we believe we are well positioned to achieve our near-term milestones and to advance our mission of delivering a novel treatment option for patients with Alzheimer’s Disease.” Recent Business Highlights and Anticipated Milestones ACU193 Clinical Development In October 2022, Fast Track designation was granted by the U.S. Food and Drug Administration (FDA) for ACU193 for the treatment of early Alzheimer’s disease. Fast Track designation is granted to drugs being developed for the treatment of serious or life-threatening conditions where there is an unmet medical need. Fast Track designation does not change the standard for approval, but a drug candidate that receives F...