Acumen Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 04:16 pm
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Acumen Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 10.71 million compared to USD 3.9 million a year ago. Basic loss per share from continuing operations was USD 0.26 compared to USD 0.1 a year ago.
For the nine months, net loss was USD 29.99 million compared to USD 92.26 million a year ago. Basic loss per share from continuing operations was USD 0.74 compared to USD 7 a year ago.
Acumen Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The Company is engaged in developing a disease-modifying approach to target underlying cause of Alzheimer's disease (AD). The Company is focused on focused on advancing a targeted immunotherapy drug candidate, sabirnetug (ACU193), in clinical development following Phase I results in early AD patients (patients with mild cognitive impairment or mild dementia due to Alzheimerâs pathology). Sabirnetug is a recombinant humanized immunoglobulin gamma 2 (IgG2), monoclonal antibody (mAb) that selectively targets the anti-amyloid-beta oligomer (AbOs), has demonstrated functional and protective effects in in-vitro assays, and has demonstrated in-vivo safety and pharmacologic activity in multiple animal species including transgenic models for AD. The Company is developing sabirnetug for intravenous (IV), administration every four weeks for the treatment of early AD.