Acumen Pharmaceuticals(ABOS) - 2025 Q1 - Quarterly Results

Financial Performance - Acumen reported a net loss of $28.8 million for Q1 2025, compared to a net loss of $14.9 million in Q1 2024, representing a 93% increase in losses year-over-year[11] - Loss from operations for Q1 2025 was $30.4 million, compared to $17.8 million in Q1 2024, marking a 71% increase in operational losses[11] - Net loss for the three months ended March 31, 2025, was $28,796, compared to a net loss of $14,873 in the same period of 2024[24] Expenses - Research and Development (R&D) expenses increased to $25.3 million in Q1 2025 from $12.4 million in Q1 2024, reflecting a 104% rise due to higher clinical trial costs[11] - General and Administrative (G&A) expenses slightly decreased to $5.1 million in Q1 2025 from $5.3 million in Q1 2024, a reduction of approximately 4%[11] - Interest income for Q1 2025 was $2.5 million, down from $4.0 million in Q1 2024, a decline of 38.8%[21] - The company incurred stock-based compensation expense of $2,474, slightly down from $2,484 in the previous year[24] Cash and Assets - Cash, cash equivalents, and marketable securities totaled $197.9 million as of March 31, 2025, down from $231.5 million as of December 31, 2024, indicating a decrease of 14.5%[11] - Acumen's total assets decreased to $204.5 million as of March 31, 2025, from $239.0 million as of December 31, 2024, a decline of 14.5%[20] - Cash and cash equivalents and restricted cash at the end of the period were $30,391, down from $47,164 at the end of the same period in 2024[24] Cash Flow - Net cash used in operating activities increased to $34,121 from $17,859 year-over-year[24] - Net cash provided by investing activities was $28,689, compared to a net cash used of $9,203 in the prior year[24] - The cash flow from financing activities resulted in a net cash outflow of $36, compared to a net inflow of $7,107 in the same period last year[24] Clinical Development - The Phase 2 study ALTITUDE-AD, which investigates sabirnetug for early Alzheimer's disease, is fully enrolled with 542 participants and is expected to report topline results in late 2026[5] - The company aims to advance its investigational product candidate, sabirnetug (ACU193), which has received Fast Track designation for early Alzheimer's disease treatment[13] Other Financial Changes - The company reported a decrease in accounts payable by $4,592, contrasting with an increase of $1,700 in the same period last year[24] - The company had a significant change in prepaid expenses and other current assets, increasing by $950 compared to a decrease of $226 in the previous year[24] - Purchases of marketable securities totaled $35,048, while proceeds from maturities and sales of marketable securities were $63,816[24] - Proceeds from the exercise of stock options amounted to $37, with no proceeds from stock options in the previous year[24]