Business
Acumen Pharmaceuticals Reports Financial Results for Third Quarter 2021 and Business Highlights
Acumen’s investigational product candidate, ACU193, is the first humanized monoclonal antibody discovered and developed to selectively target toxic
About this update from Acumen Pharmaceuticals, Inc.
[{"type":"text","content":"Acumen’s investigational product candidate, ACU193, is the first humanized monoclonal antibody discovered and developed to selectively target toxic amyloid-beta oligomers (AβOs) to enter clinical trialsEnrolled first patients in 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 disease Closed initial public offering in July 2021, with aggregate net proceeds of $168.6 million CHARLOTTESVILLE, Va. and CARMEL, Ind., Nov. 15, 2021 (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 quarter ended September 30, 2021 and provided recent business highlights. “Starting with our successful IPO in early July, the third quarter of 2021 marked the beginning of the next phase of life for our company. In October 2021, we announced the screening and initial dosing of our first patient in INTERCEPT-AD,” said Daniel O’Connell, President and Chief Executive Officer at Acumen. “INTERCEPT-AD is investigating the safety, tolerability, pharmacokinetics and target engagement of our product candidate ACU193 in a Phase 1 clinical trial involving early Alzheimer’s patients. ACU193 is differentiated as the first humanized monoclonal antibody discovered and developed to selectively target toxic amyloid-beta oligomers (AβOs) to enter a clinical trial. We have cleared our sentinel safety review and are continuing to recruit patients in INTERCEPT-AD. We believe we have the resources to execute against our current strategic plan with our existing cash and cash equivalents and marketable securities, which we believe will be sufficient to enable us to fund our operating expenses and capital expenditure requirements at least through 2024.” Recent Business Highlights and Anticipated Milestones ACU193 Clinical Development INTERCEPT-AD is recruiting; sentinel safety review complete and Cohort 1 is enrolling. Patient screening and enrollment is ongoing for INTERCEPT-AD. Although Acumen has experienced delays in clinical site activation and patient enrollment in INTERCEPT-AD, which Acumen believes is a result of the rise of the Delta variant of COVID-19 early ...