Tue, May 14, 8:53 PM (245 days ago)
Acumen Pharmaceuticals, Inc.'s quarterly report for the period ending March 31, 2024, highlights several key financial and operational metrics. The company reported a net loss of $14.9 million, an increase from $11.3 million in the same period last year, primarily due to higher research and development expenses, which rose to $12.4 million from $8.7 million. General and administrative expenses also increased to $5.3 million from $4.4 million. The company’s cash and cash equivalents decreased to $46.9 million from $66.9 million as of December 31, 2023, while marketable securities increased to $205.6 million from $176.6 million. Total assets declined slightly to $301.0 million from $310.1 million, and total liabilities decreased to $38.9 million from $43.2 million. Acumen's financial health is supported by a working capital of $247.4 million. The company anticipates its existing cash and marketable securities will fund operations into the first half of 2027. However, the report indicates potential future capital requirements for ongoing and planned clinical trials, including the ALTITUDE-AD study for its drug candidate sabirnetug. Overall, Acumen's financial performance reflects increased investment in R&D and operational expansion, with a focus on advancing its Alzheimer's disease treatment pipeline.