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NEWTON, Mass. - Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), currently trading near its 52-week low at $1.08 per share, has shared updates on its Alzheimer’s disease clinical program, including its Phase 2 ALTITUDE-AD trial and a screening assay used to identify potential trial participants. According to InvestingPro analysis, despite recent market challenges, analysts maintain price targets ranging from $4 to $11, suggesting potential upside. The company presented these findings at the International Conference on Alzheimer’s and Parkinson’s Diseases in Vienna, Austria, and plans an encore at the American Academy of Neurology Annual Meeting in San Diego, Calif.
The pTau217 assay, used to screen individuals for the ALTITUDE-AD trial, reportedly performed as expected, allowing for more efficient participant screening by reducing the need for amyloid PET scans or cerebrospinal fluid (CSF) procedures. This strategy is based on the extended results from the Phase 1 INTERCEPT-AD trial, which included patients with early Alzheimer’s disease.
In addition to the pTau217 assay, Acumen presented research on methods for testing the binding of amyloid beta oligomers (AβOs) to human neurons and the development of assays to measure Aβ selectivity. One study demonstrated that sabirnetug, Acumen’s investigational antibody, blocked the binding of AβOs to synapses in a model of human neurons, which could be significant for Alzheimer’s treatment.
Sabirnetug, which has been granted Fast Track designation by the U.S. Food and Drug Administration, is designed to selectively target toxic soluble AβOs, believed to be an early cause of neurodegeneration in Alzheimer’s disease. The ongoing ALTITUDE-AD trial is evaluating the efficacy and safety of sabirnetug in slowing cognitive and functional decline in early Alzheimer’s disease patients.
The Phase 2 study has enrolled 542 individuals across multiple sites in the United States, Canada, the European Union, and the United Kingdom. Further details can be found on the clinical trials website with the identifier NCT06335173. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 6.46, though it’s currently burning through cash as it advances its clinical programs.
Acumen is a clinical-stage biopharmaceutical company focused on developing treatments for Alzheimer’s disease. The company’s approach centers on addressing toxic soluble amyloid beta oligomers, which are implicated as triggers of the disease’s pathology. The latest findings from the INTERCEPT-AD study were recently published in The Journal of Prevention of Alzheimer’s Disease. For investors seeking deeper insights, InvestingPro offers a comprehensive research report on ABOS, including detailed financial analysis and 13 additional ProTips that could help inform investment decisions.
This article is based on a press release statement.
In other recent news, Acumen Pharmaceuticals reported a net loss of $102.3 million for the fiscal year 2024, primarily due to increased research and development expenses associated with its Alzheimer’s treatment pipeline. Despite the financial loss, the company ended the year with $231.5 million in cash and marketable securities, which is expected to sustain operations until the first half of 2027. The company completed enrollment for its Phase II ALTITUDE AD study, involving 542 participants, which focuses on the efficacy of its Alzheimer’s treatment, sabirnetug. In a related development, H.C. Wainwright adjusted the price target for Acumen Pharmaceuticals, lowering it from $15 to $11, but maintained a Buy rating on the stock. This adjustment was based on a reevaluation of the company’s operational expenditure assumptions. The firm also highlighted recent advancements, including the completion of a study on a subcutaneous formulation of sabirnetug, which showed a decent safety profile. Analysts are optimistic about the potential of sabirnetug, with expectations for the top-line results from the ALTITUDE AD study anticipated by late 2026. The company’s focus on innovative Alzheimer’s treatments and a strong cash reserve are seen as positive indicators for future growth.
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