Acumen Pharmaceuticals (NASDAQ: ABOS) 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.
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