Acumen Pharmaceuticals(ABOS) - 2024 Q4 - Annual Results

Financial Performance - Loss from operations for 2024 was $114.0 million, compared to$61.1 million in 2023, attributed to increased R&D and General and Administrative (G&A) expenses [16]. - Net loss for the year ended December 31, 2024, was $102.3 million, compared to a net loss of$52.4 million in 2023 [16]. - The company experienced a comprehensive loss of $102,689,000 in 2023, compared to a comprehensive loss of$51,308,000 in 2024 [24]. - Net loss for 2023 was $102,329,000, which is an increase from the net loss of$52,371,000 in 2024 [24]. - The company reported a net cash used in operating activities of $86,215,000 for 2024, up from$43,064,000 in 2023 [26]. - Cash and cash equivalents at the end of 2024 were $35,859,000, down from$67,119,000 at the beginning of the period [26]. - Net cash provided by financing activities decreased to $6,928,000 in 2024 from$151,753,000 in 2023 [26]. Research and Development - Enrollment for the Phase 2 study ALTITUDE-AD, investigating sabirnetug for early Alzheimer's disease, was completed with 542 participants [5]. - Research and Development (R&D) expenses increased to $93.8 million in 2024 from$42.3 million in 2023, primarily due to clinical trial costs [10]. - The Phase 1 study of a subcutaneous formulation of sabirnetug showed sufficient systemic exposure for further clinical studies [9]. - Anticipated topline results from the ALTITUDE-AD study are expected in late 2026 [7]. - The company aims to redefine the standard of care in early Alzheimer's disease through continuous innovation and high selectivity of sabirnetug [3]. General and Administrative Expenses - G&A expenses rose to $20.2 million in 2024 from$18.8 million in 2023, mainly due to increased personnel costs [16]. - Stock-based compensation expense increased to $9,635,000 in 2024 from$6,145,000 in 2023 [26]. Assets and Liabilities - Cash, cash equivalents, and marketable securities totaled $231.5 million as of December 31, 2024, down from$306.1 million in 2023, expected to support operations into the first half of 2027 [10]. - The total assets decreased to $238.99 million in 2024 from$310.13 million in 2023 [22]. - Total operating expenses for 2023 were $114,017,000, compared to$61,138,000 in 2024, reflecting a significant increase [24]. - Research and development expenses amounted to $93,798,000 in 2023, while general and administrative expenses were$20,219,000 [24]. - Interest income for 2023 was $14,317,000, compared to$10,791,000 in 2024, indicating a growth in interest income [24]. - The company had a weighted-average shares outstanding of 60,013,277 in 2023, compared to 48,609,383 in 2024 [24].