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Acumen Pharmaceuticals, Inc. (ABOS) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Acumen Pharmaceuticals, Inc.

CIK: 1576885 Ticker: ABOS

Exhibit 99.1

 

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Acumen Pharmaceuticals Reports Financial Results for Full Year Ended December 31, 2021 and Business Highlights

 

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Acumen is progressing ACU193, the first monoclonal antibody designed to selectively target toxic amyloid-beta oligomers (AßOs) to enter clinical testing

 

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Currently enrolling 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

 

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INTERCEPT-AD clinical trial design was presented at 2021 Clinical Trials on Alzheimer’s Disease (CTAD) Conference in November 2021

 

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Topline results from INTERCEPT-AD now expected in the first half of 2023

 

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Acumen team expanded and Kim Drapkin appointed to the Board of Directors to enhance depth and breadth of expertise at the company

 

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$225.9 million in cash, cash equivalents and marketable securities at December 31, 2021, which is expected to provide cash runway through 2025

 

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Company to host conference call and webcast today at 4:30 pm ET

Charlottesville, Va. and Carmel, In., March 28, 2022Acumen 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 full year ended December 31, 2021, and provided recent business highlights.

“After a transformational year in 2021, highlighted by multiple accomplishments, including our IPO, Acumen is completely focused on executing our business strategy with a primary emphasis on INTERCEPT-AD, our Phase 1 clinical trial investigating the safety, tolerability, pharmacokinetics and target engagement of ACU193 in early Alzheimer’s patients. Based on current progress in the trial and our current plan to report a dataset inclusive of Cohort 7 Day 168 follow up, we now expect to report topline results in the first half of 2023. We have experienced slower than anticipated enrollment due to the COVID-19 pandemic, however our strong cash position has provided us the ability to expand the study footprint to support recruitment and to include a longer follow-up period prior to read out,” said Daniel O’Connell, President and Chief Executive Officer at Acumen. “With the proceeds from our successful IPO last year, we estimate our existing cash, cash equivalents and marketable securities will be sufficient to fund our operating expenses and capital requirements through 2025 based on our current plans.”


The following information was filed by Acumen Pharmaceuticals, Inc. (ABOS) on Monday, March 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Acumen Pharmaceuticals, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
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  • Executive Team
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Inside Acumen Pharmaceuticals, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Balance Sheets
Condensed Balance Sheets (Parenthetical)
Condensed Statements Of Cash Flows
Condensed Statements Of Changes In Convertible Preferred Stock And Stockholders' Equity (Deficit)
Condensed Statements Of Operations And Comprehensive Loss
Basis Of Presentation, Summary Of Significant Accounting Policies And Recent Accounting Pronouncements (Policies)
Basis Of Presentation, Summary Of Significant Accounting Policies And Recent Accounting Pronouncements
Basis Of Presentation, Summary Of Significant Accounting Policies And Recent Accounting Pronouncements - Additional Information (Detail)
Commitments And Contingencies
Description Of Organization And Business Operations
Description Of Organization And Business Operations - Additional Information (Detail)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Fair Value, Assets And Liabilities Measured On Recurring Basis (Detail)
Lease - Additional Information (Detail)
Leases
Leases - Summary Of Lessee, Operating Lease, Liability, Maturity (Detail)
Leases (Tables)
Leases - Schedule Of Future Minimum Rental Payments For Operating Leases (Detail)
Leases - Schedule Of Supplemental Information Related To Lease (Detail)
Leases - Summary Of Lease, Cost (Detail)
Marketable Securities
Marketable Securities (Tables)
Marketable Securities - Additional Information (Details)
Marketable Securities - Summary Of Marketable Securities (Details)
Net Loss Per Share
Net Loss Per Share (Tables)
Net Loss Per Share - Summary Of Dilutive Securities Not Included In The Diluted Net Loss Per Common Share (Detail)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Additional Information (Detail)
Stock-Based Compensation - Summary Of Assumptions Used For Valuation Of Fair Value Of Stock (Detail)
Stock-Based Compensation - Summary Of Share-Based Compensation Expense Related To Stock Options (Detail)
Stock-Based Compensation - Summary Of Stock Option Activity (Detail)
Stockholders' Equity
Stockholders' Equity - Additional Information (Detail)
Supplemental Financial Information
Supplemental Financial Information (Tables)
Supplemental Financial Information - Schedule Of Accrued Expenses And Other Current Liabilities (Detail)
Supplemental Financial Information - Schedule Of Prepaid Expenses And Other Current Assets (Detail)

Material Contracts, Statements, Certifications & more

Acumen Pharmaceuticals, Inc. provided additional information to their SEC Filing as exhibits

Ticker: ABOS
CIK: 1576885
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-22-151851
Submitted to the SEC: Mon May 16 2022 4:34:57 PM EST
Accepted by the SEC: Mon May 16 2022
Period: Thursday, March 31, 2022
Industry: Biological Products No Disgnostic Substances

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