Mar. 27 at 11:54 AM
$ABOS
Acumen Pharmaceuticals has reported its financial results for 2024 and provided key business updates.
The company completed enrollment in its Phase 2 ALTITUDE-AD study, investigating sabirnetug for early Alzheimer's disease, with topline results expected in late 2026.
Key financial highlights include cash position of
$231.5 million as of December 31, 2024, expected to fund operations into first half of 2027.
The company reported increased R&D expenses of
$93.8 million (vs
$42.3 million in 2023) and G&A expenses of
$20.2 million (vs
$18.8 million in 2023).
Net loss widened to
$102.3 million from
$52.4 million in 2023.
Recent developments include positive Phase 1 results for a subcutaneous sabirnetug formulation and the publication of INTERCEPT-AD study results showing the drug was well-tolerated with dose-dependent target engagement.
