Acumen reports positive Phase 1 results for ACU193; Q2 net loss $11.6M, cash $172.2M + $122M offering

Acumen Pharmaceuticals, Inc.

2023-Q2 EPS reported -$0.56

Phase 1 INTERCEPT-AD trial met primary/secondary objectives; ACU193 showed 25% amyloid plaque reduction at 60 mg/kg (p=0.01).
ACU193 demonstrated near-maximal target engagement of toxic AβOs; low ARIA-E rate of 10.4%, symptomatic 2.1%; no drug-related SAEs.
Cash, equivalents & securities $172.2M at June 30; July follow-on offering added ~$122M net; runway into H2 2026.
Phase 2 study initiation expected H1 2024; FDA interaction anticipated Q4 2023 to inform development path.
Q2 2023 net loss $11.6M vs $10.2M YoY; R&D expenses $9.1M (up from $7.3M); no revenue.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Acumen Pharmaceuticals, Inc. reported the quarter ended June 30, 2023 results: net income Net loss was $11.6 million for the three-month period ended June 30, 2023.

Period: the quarter ended June 30, 2023
Net income: Net loss was $11.6 million for the three-month period ended June 30, 2023
Result: reported results

Exact text from the filing

Acumen Pharmaceuticals, Inc. (the “ Company ”) reported financial results and business highlights for the quarter ended June 30, 2023.

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Source: SEC EDGAR

accession 0001576885-23-000047

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