Acumen Pharmaceuticals(ABOS) - 2024 Q1 - Earnings Call Transcript

Financial Data and Key Metrics Changes - As of March 31, 2024, the company had approximately $297 million in cash and marketable securities, with an expected cash runway lasting into the first half of 2027 [10] - R&D expenses for Q1 2024 were $12.4 million, an increase attributed to spending for the ALTITUDE-AD trial [11] - G&A expenses were $5.3 million for the quarter, reflecting an increase due to higher headcount, leading to a loss from operations of $17.8 million [11] Business Line Data and Key Metrics Changes - The ALTITUDE-AD Phase II study has commenced, with the first patient dosed, aiming to evaluate the efficacy and safety of sabirnetug in approximately 540 participants [7][8] - The company is also on track to initiate a Phase I study for a subcutaneous formulation of sabirnetug in mid-2024, which is expected to provide additional flexibility for patients [9] Market Data and Key Metrics Changes - The company is encouraged by the early engagement and interest from trial sites for the ALTITUDE study, which may be positively influenced by the Phase I INTERCEPT results [7][27] Company Strategy and Development Direction - The company aims to establish sabirnetug as a best-in-class treatment for early Alzheimer's patients, focusing on advancing clinical development efficiently [9] - A collaboration agreement with Lonza for manufacturing sabirnetug has been established, leveraging Lonza's expertise for clinical development and commercialization [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the ALTITUDE study's early progress and the potential for sabirnetug to provide significant value to patients and shareholders [9][27] - The company is closely monitoring the implications of competing products like lecanemab and donanemab on enrollment expectations for the ALTITUDE study [26][27] Other Important Information - The company is committed to delivering updates throughout the year as it advances the sabirnetug program [11] Q&A Session Summary Question: Is R&D about stable now, or are we expecting it to go up significantly? - R&D is expected to trend up for the next couple of quarters before flattening out and then decreasing [12][13] Question: Do you have a sense of what you're looking for in the subcutaneous formulation? - The focus is on getting the healthy volunteer study up and evaluating pharmacokinetics, with considerable optionality for future steps [14][15] Question: Can you ultimately get to a plaque-busting dose with the subcutaneous formulation? - The goal remains consistent with the INTERCEPT study, focusing on oligomer target engagement and some plaque reduction [18][19] Question: What are the implications of the upcoming donanemab AdComm? - The AdComm will focus on treatment duration and stratification concerns, which may have implications for market development [20] Question: Can the subcutaneous formulation be used within ALTITUDE if the healthy volunteer study goes well? - While theoretically possible, it would be logistically challenging to insert the subcutaneous formulation into the already designed ALTITUDE study [28][29]