The following is a summary of the Acumen Pharmaceuticals, Inc. (ABOS) Q1 2024 Earnings Call Transcript:
Financial Performance:
Acumen Pharmaceuticals reported cash and marketable securities worth approximately $297 million at the end of Q1 2024.
R&D expenses for the quarter rose to $12.4 million due to costs related to the ALTITUDE-AD trial.
The company's Q1 G&A expenses increased to $5.3 million due to increased headcount, resulting in an operational loss of $17.8 million for the quarter.
Business Progress:
The first patient has been dosed in the ALTITUDE-AD Phase II study, which trials the effectiveness and safety of sabirnetug.
Positive feedback has been received on the Phase I INTERCEPT results, particularly on patient biomarker improvements.
A Phase I study is planned for a subcutaneous formulation of sabirnetug, which should be launched in mid-2024.
The company has established a collaboration with Lonza for the manufacturing of sabirnetug, leveraging the latter's regulatory knowledge and global manufacturing network.
More details: Acumen Pharmaceuticals IR
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