Acumen Pharmaceuticals, Inc. (ABOS) saw a decrease of 5.34% in the aftermarket. However, the last trading session concluded at $14.05 with a decline of 2.43%.
First Patient Dosed in a Phase 1 Clinical Trial of ACU193
ABOS announced on 7th October 2021 about the dosage of the first patient in Phase 1 clinical Trial of ACU193. ACU193 is a monoclonal antibody that was identified and developed for its selectivity for AOs. However, ABOS thinks of them as the most toxic and deadly form in comparison to A monomers and amyloid plaques. AOs are neurotoxins that attach to neurons, block synaptic function, and cause neurodegeneration.
Moreover, ACU193 intends to directly treat a fundamental underlying cause of the neurodegenerative process in AD by specifically targeting toxic AOs. The company also included exploratory tests as well as usual clinical outcomes for Alzheimer’s disease. Lastly, ABOS believes that ACU193 has the ability to be more efficacious and safe than other monoclonal antibodies in research because of its unique method of action.
Second Quarter 2021 Financial Results
ABOS released second-quarter 2021 financial results on 16th August 2021. As of June 30, 2021, cash, cash equivalents, and marketable securities were $68.8 million. Moreover, the R&D costs were $2.3 million and $4.8 million, respectively, compared to $1.9 million and $4.0 million for the three and six months ending June 30, 2020. G&A costs were $1.2 million and $2.4 million, respectively.
In addition, the net operating losses were $3.4 million and $7.2 million. The warrant obligation and tranche entitlements were first treated as a liability on the balance sheet of a company at fair market value and were then re-measured at the market price at the end of the reporting period. Lastly, the improvements in the fair market value of these assets were recorded as other expenditures.
Alzheimer’s disease research and therapy development have reached a critical juncture. At ABOS, experts are putting their experience and knowledge to develop medicines that will help everyone impacted by this deadly disease. Moreover, Acumen’s team consists of neuroscientists, creators of Alzheimer’s therapies, and industry executives with decades of expertise in the field. The company aims to produce therapies that have a significant impact on outcomes—for patients, their families, and society—by capitalizing on collective learning in the field.