Workflow
Acumen Pharmaceuticals Reports Financial Results for the Year Ended December 31, 2024 and Business Highlights
ABOSAcumen Pharmaceuticals(ABOS) GlobeNewswire·2025-03-27 11:00

Core Insights - Acumen Pharmaceuticals is advancing its clinical development of sabirnetug, a treatment for early Alzheimer's disease, with significant progress reported in 2024 [2][5][12] - The company completed enrollment in its Phase 2 study, ALTITUDE-AD, ahead of schedule and anticipates topline results in late 2026 [5][7] - Financial results for 2024 show a net loss of 102.3million,anincreasefrom102.3 million, an increase from 52.4 million in 2023, primarily due to rising research and development expenses [14][22] Recent Highlights - Enrollment for the Phase 2 ALTITUDE-AD study was completed with 542 participants randomized to receive either sabirnetug or placebo [5][12] - The Phase 1 study results for a subcutaneous formulation of sabirnetug were announced, indicating it is well-tolerated and supports further development [6][11] - Cash, cash equivalents, and marketable securities totaled 231.5millionasofDecember31,2024,expectedtofundoperationsintothefirsthalfof2027[5][14]AnticipatedMilestones−ToplineresultsfromtheALTITUDE−ADstudyareexpectedinlate2026,focusingontheefficacyandsafetyofsabirnetuginearlyAlzheimer′sdisease[5][7]−TheprimaryendpointoftheALTITUDE−ADstudyisthechangeintheIntegratedAlzheimer′sDiseaseRatingScale(iADRS)at18months[6][12]FinancialOverview−Researchanddevelopmentexpensesincreasedto231.5 million as of December 31, 2024, expected to fund operations into the first half of 2027 [5][14] Anticipated Milestones - Topline results from the ALTITUDE-AD study are expected in late 2026, focusing on the efficacy and safety of sabirnetug in early Alzheimer's disease [5][7] - The primary endpoint of the ALTITUDE-AD study is the change in the Integrated Alzheimer's Disease Rating Scale (iADRS) at 18 months [6][12] Financial Overview - Research and development expenses increased to 93.8 million in 2024 from 42.3millionin2023,drivenbyclinicaltrialcostsandpersonnelexpenses[14][22]−Generalandadministrativeexpensesroseto42.3 million in 2023, driven by clinical trial costs and personnel expenses [14][22] - General and administrative expenses rose to 20.2 million in 2024, compared to 18.8millionin2023[14][22]−Thecompanyreportedalossfromoperationsof18.8 million in 2023 [14][22] - The company reported a loss from operations of 114.0 million in 2024, up from $61.1 million in 2023 [14][22]