Business
Acumen Pharmaceuticals Reports Second Quarter 2023 Financial Results and Business Highlights
Positive INTERCEPT-AD Phase 1 trial results announced in July 2023 demonstrate ACU193’s potential as a differentiated antibody for the treatment of early
About this update from Acumen Pharmaceuticals, Inc.
[{"type":"text","content":"Positive INTERCEPT-AD Phase 1 trial results announced in July 2023 demonstrate ACU193’s potential as a differentiated antibody for the treatment of early Alzheimer’s diseaseCash, cash equivalents and marketable securities of $172.2 million as of June 30, 2023, bolstered by an additional $122 million in net proceeds in July following an upsized public follow-on offering; expected to be sufficient to support current clinical and operational activities into the second half of 2026Initiation of a Phase 2 study expected in the first half of 2024, with potential to expand to a Phase 3 registration study based on interim analysesCompany to host conference call and webcast today at 8:00 a.m. ET CHARLOTTESVILLE, Va. and CARMEL, Ind., Aug. 08, 2023 (GLOBE NEWSWIRE) -- Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS) (“Acumen” or the “Company”), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), today reported financial results for the second quarter of 2023 and provided a business update. “Our positive Phase 1 results announced last month exceeded our expectations and established a fundamental turning point in the development of our asset, ACU193. We observed rapid reduction of amyloid plaque, demonstrated convincing, dose-related near-maximal target engagement of AβOs, a first for the field, and showed that ACU193 was well tolerated with low levels of ARIA-E. We believe that these data confirm robust proof of mechanism for ACU193. The data also set the stage for ACU193’s differentiation as a potentially safer antibody amenable to monthly dosing with a broad therapeutic index, and the prospect of best-in-class efficacy conferred by targeting the most toxic amyloid beta species in the brain: oligomers,” said Daniel O’Connell, President and Chief Executive Officer of Acumen. “We are well-capitalized and expect our runway to support current operational and clinical activities into the second half of 2026. We look forward to an anticipated interaction with the FDA in the fourth quarter to inform our next phase of development for ACU193, and plan to initiate our Phase 2 study in the first half of next year.” Recent Highlights and Anticipated Milestones In July 2023, the Company presented positive topline results from Phase ...