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Mar 31, 2022
Acumen Q1 2022 Earnings Report
Reported financial results for the first quarter of 2022 and provided a business update.
Key Takeaways
Acumen Pharmaceuticals reported its financial results for Q1 2022, highlighting progress in its INTERCEPT-AD Phase 1 clinical trial and a cash balance of $216.7 million expected to fund operations through 2025.
Advanced INTERCEPT-AD, a Phase 1 clinical trial for ACU193 in early Alzheimer’s disease patients, with topline results expected in the first half of 2023.
Published preclinical evidence in Frontiers in Neuroscience supporting ACU193's selective targeting of toxic soluble amyloid-beta oligomers.
Maintained a strong cash position with $216.7 million in cash, cash equivalents, and marketable securities as of March 31, 2022, expected to provide cash runway through 2025.
Increased research and development expenses due to ongoing clinical trial costs.
Acumen
Acumen
Forward Guidance
Acumen anticipates topline data from the INTERCEPT-AD trial in the first half of 2023 and plans to be ready to initiate a Phase 2/3 trial if INTERCEPT-AD results are positive. The company expects its cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses and capital expenditure requirements through 2025 based on current plans.
Positive Outlook
- Topline data from INTERCEPT-AD trial expected in the first half of 2023.
- Phase 2/3 clinical trial preparation activities progressing.
- Plans to initiate a Phase 2/3 trial if INTERCEPT-AD results are positive.
- Chronic toxicology and CMC activities are ongoing to support readiness.
- Cash, cash equivalents and marketable securities will be sufficient to fund operating expenses and capital expenditure requirements through 2025.
Challenges Ahead
- Topline data from INTERCEPT-AD trial is subject to the rate of site activation and patient recruitment.
- Clinical trials are subject to risks and uncertainties.
- The impacts of the COVID-19 pandemic may amplify risks.
- The company is still in the clinical stage of development and has not yet commercialized any products.
- Future filings and reports by Acumen may describe additional risks concerning Acumen’s programs.