November 29, 2021

Tomer Aiderapp

Consummate Business Technicians

Acumen Pharmaceuticals Reports Financial Results for Third Quarter 2021 and Business Highlights | Your Money

Acumen’s investigational product or service prospect, ACU193, is the initial humanized monoclonal antibody found out and developed to selectively target harmful amyloid-beta oligomers (AβOs) to enter clinical trialsEnrolled very first clients in INTERCEPT-Ad, a multi-center, randomized, double-blind, placebo-managed, solitary- and numerous-ascending dose Phase 1 clinical demo of ACU193 in people with early Alzheimer’s diseaseClosed initial public supplying in July 2021, with combination net proceeds of $168.6 million

CHARLOTTESVILLE, Va. and CARMEL, Ind., Nov. 15, 2021 (Globe NEWSWIRE) — Acumen Prescription drugs, Inc. (NASDAQ: ABOS), a scientific stage biopharmaceutical business centered on the improvement of novel targeted therapeutics for Alzheimer’s sickness (Advertisement), right now documented fiscal results for the quarter ended September 30, 2021 and furnished recent organization highlights.

“Starting with our prosperous IPO in early July, the third quarter of 2021 marked the beginning of the upcoming phase of lifetime for our organization. In October 2021, we declared the screening and first dosing of our first patient in INTERCEPT-Ad,” stated Daniel O’Connell, President and Chief Govt Officer at Acumen. “INTERCEPT-Ad is investigating the security, tolerability, pharmacokinetics and concentrate on engagement of our product applicant ACU193 in a Period 1 scientific trial involving early Alzheimer’s people. ACU193 is differentiated as the 1st humanized monoclonal antibody found out and developed to selectively concentrate on toxic amyloid-beta oligomers (AβOs) to enter a medical demo. We have cleared our sentinel basic safety overview and are continuing to recruit clients in INTERCEPT-Advert. We imagine we have the sources to execute towards our existing strategic plan with our current money and cash equivalents and marketable securities, which we imagine will be adequate to allow us to fund our operating bills and capital expenditure necessities at the very least through 2024.”

The latest Business Highlights and Predicted Milestones

ACU193 Scientific Progress

INTERCEPT-Ad is recruiting sentinel security evaluate entire and Cohort 1 is enrolling. Patient screening and enrollment is ongoing for INTERCEPT-Ad. While Acumen has knowledgeable delays in scientific website activation and client enrollment in INTERCEPT-Advertisement, which Acumen thinks is a end result of the rise of the Delta variant of COVID-19 early in the third quarter of 2021, Acumen continues to anticipate topline details from this demo by the conclusion of 2022, topic to the charge of website activation and affected person recruitment.

Company

Closing of Preliminary General public Offering. In July 2021, Acumen issued an aggregate of 11,499,998 shares of widespread stock, which include shares pursuant to the underwriters’ work out of their complete around-allotment selection, in an initial public giving, ensuing in combination net proceeds of $168.6 million.

3rd Quarter 2021 Money Final results

Cash Balance. As of September 30, 2021, our hard cash and hard cash equivalents totaled $135.8 million and our marketable securities totaled $94.1 million, when compared to cash and dollars equivalents of $43.8 million and no marketable securities as of December 31, 2020.Analysis and Enhancement (R&D) Expenses. R&D bills were $1.8 million and $6.6 million for the three- and nine-thirty day period periods finished September 30, 2021, respectively, when compared to $3. million and $7. million for the three- and nine-thirty day period durations ended September 30, 2020, respectively.Basic and Administrative (G&A) Charges. G&A expenses were being $2.1 million and $4.5 million for the a few- and 9-month periods ended September 30, 2021, respectively, in comparison to $.2 million and $.7 million for the 3- and 9-month intervals ended September 30, 2020, respectively.Loss from Functions. Losses from Functions have been $3.9 million and $11.2 million for the 3- and nine-month durations finished September 30, 2021, respectively, in comparison to $2.5 million and $6.6 million for the three- and nine-thirty day period intervals ended September 30, 2020, respectively.Internet Decline. Net Losses ended up $3.9 million and $92.3 million for the a few- and nine-month intervals finished September 30, 2021, respectively, as opposed to $2.5 million and $6.6 million for the three- and 9-month intervals ended September 30, 2020, respectively. Internet losses in 2021 incorporate a non-dollars expense that represents the adjustments in honest worth of Acumen’s Series B tranche legal responsibility and Series A-1 warrant liability. The tranche legal responsibility and warrant liability were in the beginning recorded at fair value as a legal responsibility on Acumen’s harmony sheet and were being subsequently re-calculated at good worth at the conclude of every single reporting interval. The improves in the honest benefit of these instruments ended up acknowledged as a component of other expense. The second tranche of the Sequence B Most popular Inventory funding spherical closed in June 2021 and, as a consequence, the remaining worth of the tranche liability was reclassified to convertible chosen stock on Acumen’s condensed harmony sheet. In addition, the Collection A-1 warrant was exercised in June 2021, and the remaining worth of the warrant legal responsibility was reclassified to convertible chosen inventory on Acumen’s condensed balance sheet. Upon the closing of the initial community providing, all fantastic share of convertible favored stock converted into equal shares of prevalent inventory.

About ACU193

ACU193 is a monoclonal antibody (mAb) learned and designed centered on its selectivity for soluble AβOs, which Acumen believes are the most poisonous and pathogenic variety of Aβ, relative to Aβ monomers and amyloid plaques. Soluble AβOs have been observed to be strong neurotoxins that bind to neurons, inhibit synaptic function and induce neurodegeneration. By selectively concentrating on poisonous soluble AβOs, ACU193 aims to specifically handle what a developing body of evidence suggests is a major fundamental induce of the neurodegenerative system in Ad.

About INTERCEPT-Advertisement

Somewhere around 62 individuals with early Ad (delicate cognitive impairment or gentle dementia thanks to Advertisement) are expected to be randomized into this double-blind, placebo-managed, initially-in-human examine of ACU193. INTERCEPT-Advert is designed to establish safety and evidence of mechanism. It is made up of one-ascending-dose (Unfortunate) and a number of-ascending-dose (MAD) cohorts and is intended to assess the security, tolerability, pharmacokinetics (PK), and focus on engagement of intravenous doses of ACU193. The analyze is enrolling at numerous investigative websites located in the United States. Much more facts can be discovered on www.clinicaltrials.gov, NCT identifier NCT04931459.

About Acumen Prescribed drugs, Inc.

Acumen Prescribed drugs, headquartered in Charlottesville, VA, with clinical operations centered in Carmel, IN, is a scientific phase biopharmaceutical corporation building a novel illness-modifying approach to handle Alzheimer’s disease. Acumen’s scientific founders pioneered research on harmful soluble AβOs, which a developing entire body of evidence suggests are principal triggers of Alzheimer’s disorder pathology. Acumen is currently centered on advancing its investigational solution prospect, ACU193, a humanized monoclonal antibody that selectively targets poisonous soluble AβOs in a Stage 1 scientific demo involving early Alzheimer’s disease clients. For far more facts, check out www.acumenpharm.com.

Ahead-Hunting Statements

This press launch incorporates forward-looking statements within the indicating of The Private Securities Litigation Reform Act of 1995. Any assertion describing Acumen’s plans, anticipations, money or other projections, intentions or beliefs is a forward-looking statement and ought to be deemed an at-possibility statement. Words such as “believes,” “expects,” “anticipates,” “could,” “would,” “seeks,” “aims,” “plans,” “potential,” “will” and identical expressions are supposed to detect forward-seeking statements, even though not all ahead-searching statements consist of these figuring out terms. Ahead-looking statements include statements concerning Acumen’s enterprise, Acumen’s capacity to accomplish its strategic and monetary aims, including its projected use of income, income equivalents and marketable securities and the sufficiency of its dollars means, and the therapeutic potential of Acumen’s product or service prospect, ACU193, which include its probable for enhanced security and efficacy as in comparison to other monoclonal antibodies in enhancement, as well as the anticipations regarding the INTERCEPT-Advert trial, together with the expected timing of reporting details, and pitfalls and uncertainties relating to the development and period of the COVID-19 pandemic and responsive measures thereto and connected effects on Acumen. These statements are primarily based on the latest beliefs and expectations of Acumen management, and are matter to specified aspects, challenges and uncertainties, particularly these inherent in the system of identifying, building and commercializing harmless and helpful human therapeutics. This sort of pitfalls might be amplified by the impacts of the COVID-19 pandemic. These and other challenges about Acumen’s courses are described in extra depth in Acumen’s filings with the Securities and Trade Commission (“SEC”), such as in Acumen’s Quarterly Report on Variety 10-Q for the quarter ended June 30, 2021, and long term filings and studies by Acumen, including Acumen’s Quarterly Report on Variety 10-Q for the quarter finished September 30, 2021. Copies of these and other files are readily available from Acumen. Additional information will be made readily available in other filings that Acumen can make from time to time with the SEC. These ahead-looking statements communicate only as of the day hereof, and Acumen expressly disclaims any obligation to update or revise any ahead-seeking assertion, other than as if not required by legislation, no matter whether, as a outcome of new details, potential gatherings or usually.

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