Acumen Pharmaceuticals (ABOS) 14 May 242024 Q1 Earnings call transcript

Good day, and thank you for standing by. Welcome to Acumen Pharmaceuticals First Quarter 2024 Conference Call and Webcast. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Alex Braun, Vice President and Head of Investor Relations. Please go ahead.

Thanks, Norma. are to and conference quarter CFO financial XX, me welcome our to ended and and CEO; XXXX. With update our business results today Chief morning, Business the Zuga, call Acumen discuss March and Officer. Good Matt O'Connell, our Dan for the we'll and Dan then has for call prepared some the Matt questions. and remarks, open

Dr. Joining Officer. and Chief President Jim Doherty, for our Medical the Q&A Chief Officer; session, Eric and we our also have Dr. Siemers, Development

outlook risks go to release to Investors Before business that we we subject differ cause expressed undertake differ meaning presentation, with actual developments. And over presentation a the or statements listeners our begin, statements. Please are result forward-looking within uncertainties as and important turn or We this revise and materially most to that information These press encourage call accompanying our risk and SEC the may the of future quarterly Dan. the in I'll forward-looking no results release to of that our actual we'll update with statements. note obligation to statements annual press or and Slide the factors website call, federal the this of forward-looking implied could our in issued the see information provided or on that, Acumen today's expected or Please call from new laws, we of in morning recent reports the to section plans. for results morning conference those to issued securities results could filed during our including that materially corporate make X from discuss the cause our find the today. statements described to those financial concerning this

for everyone, thanks us morning, Good Alex. Thanks, today. joining and

our that best-in-class of therapeutic start on treatment year-end arms Acumen efficacy of announced just sabirnetug in a X work year execution MCI approximately a the a establish As as dementia population. evaluate II March, in potential last the designed the with randomized participants dosed arm week. I'm are Alzheimer's safety is XXX substantial with Alzheimer's XXXX disease. to a early we noted double-blind XXX to with placebo-controlled off to call for ALTITUDE-AD of first patient we sabirnetug mild option study to which for clinical patient total say ALTITUDE we the for is our per as pleased and participants a great or due to with of study Phase

the to by study, start of the of we factors. encouraged highly which are attribute key ALTITUDE We a couple

feedback resonating, be First, thoroughness improvements our saw investigators Phase we particularly data The of received results. INTERCEPT doses. only after patients in I X of package positive the we the INTERCEPT on appears confluence from site biomarker to

ALTITUDE design Phase Because efficacious. that Phase of been was has oligomer target in favorably with I arms investigators proceeding Second, so the by our may data we the are viewed many informative, dose prove study and X II patients. engagement

a greater of level sabirnetug. relevant a have patients receiving dose So of chance therapeutically

for enrollment be partner it portion of extremely have and to preparation, that in with to team strong efficiency. I'm communication the proving trial our -- pleased as important of sites, Overall, the the providing is for benefits study. the extension with foundation CRO highlighting open-label built screening placebo-controlled of XX treatment and key the active process provides XX-month the Additionally, patients following sabirnetug months screening

global antibody and sabirnetug extensive approved. experience is also with manufacturing a it addition, Lonza's recently important clinical because manufacturing for network. This be expertise, to development should agreement and manufacturing commercialization leverage it allows for announced Lonza In in we collaboration us of regulatory

profile to for mid-XXXX. track on have additional on to strategic in We results advance subcutaneous the sabirnetug in a patients, information look thoughtfully work priority the convenience the competitive formulation I once and to work plan for and we option forward to includes over the we committed in healthy and study updating offer I that hand. subjects for with our more also efficiently clinical stream delivering for sabirnetug on for patients of a provide the We'll product achieve of PK inflection will the to that and to subcutaneous financials. as sabirnetug we to provide Matt caregivers. you sabirnetug turn shareholders. value caregivers remain flexibility initiate the are program. And We Phase of believe a ALTITUDE-AD development a We for Phase call I'll believe II data that, true the for benefit

Thanks, Dan.

XX-Q, As are a results today. press this in and the we reminder, our we financial our morning will in later first available quarter file release issued XXXX

primarily XXst, $XXX prior the first and trial. G&A spending to had over quarter. from support March that due expenses increase cash million first last securities the loss the The our increased primarily of million marketable to balance over year, the was were quarter, ALTITUDE-AD approximately into on of result the operations of $XX.X the This and of million As sheet increased headcount. cash the quarter. a in to the $XX.X the XXXX. R&D to million prior $X.X expenses year increase to in with we in the led were in expect runway continue half

with We to ALTITUDE-AD. strong are start off a

to develop We capitalized sabirnetug. and study formulation a the of subcutaneous well execute are to on

as delivering to shareholders. And that, the we and sabirnetug to Q&A. of for forward opportunity benefit caregivers additional open year committed this the can providing are ahead of for the us with patients, We we look updates advance call on Operator? and

Shrader the line will question [Operator with And Instructions] first of Tom from our BTIG. come

I have ones. of quick couple a

it now, go had is know probably but are probably to stable significantly? I upfront you're you expecting Matt, early in about costs. enrollment, R&D we up some or for First

X you over now years? So where R&D next is compared to what maybe the expect

It's for of out down. to then trend next couple then going go and up and flatten quarters the

a had, and then and that it's notice, couple ever this for So going but we than it's sort and -- quarters down. R&D up if more any to of was go come you of plateau quarter quarter

then do show general figure subcu a to AUC out a Perfect. of have for? wait formulation, can maybe that on study match subcu for is Okay. And do here looking if AUC the to Is sense the kind deliverable the and for Is antibody. really field idea quick you're a the you what then the you plan? of

Dan. Thanks, on Tom. just that. quickly This give. might Jim comment Eric is I'll or Maybe

getting I both field from evaluating is think observe right is PK. and considerable -- now, a the thing up there for perspective. to clinical and healthy study think volunteer I I heads, where us And think the the optionality important of sort the regulatory

step TBD to want the I quickly of but next hand sort these certainly as as to as for the subcu, still we're think I So get Phase in in possible. results

since target patients, options we and first means. volunteers, in study. we will in that, study just that, Yes. quickly, yes, on based design other And in biomarkers haven't engagement was then this other AUC. any a in maybe But plan lot that The of next AUC. occur really I just the things INTERCEPT goal in But the it for study a that completely and develop would think by just be terms patients, we is study, have of match first healthy which did our

Our Stifel. next Paul Matteis question line with will come the of from

of interested what most you curious you also busting And in on Abeta in, you plaque of can thinking focused think of subcu, you're for just has is donanemab ultimately and kind implications think get And on Paul. follow-up This the maybe for you're and the subcu kind upcoming space? there. evolved. on the the to just curious Just is dose be are about, a your what AdComm, the just Do what subcu how think a oligomers? when may or maybe more thoughts some then just you James quickly, broader with the curious

versus antibody, can as is that's oligomer first the reduction you ARIA Yes. plaque long then to engagement. the Well, it it I than Dan target one, at But for having I for that subcu, being isn't oligomer we some anyway, reduction thing think -- plaque it's look pass the our lot one second in target do study of a bad maybe don't over I'll either. as for of this we saw answer different as but or a others. in INTERCEPT mean engagement without something important terms the and

from study. I really versus no effort is IV subcu with our So in standpoint the the the Phase different had that effort goal that we

treatment James, focus And in the think AdComm terms Eric. of X on the the the and stratification. for FDA Thanks, [indiscernible] principally that duration donanemab, I in will of the that terms concerns session has raised main --

donanemab So those sort will likely market do important think And forum. and this have providing access approved I implications commercial likely a product in label a think in be a a really public days which sort for the we of development. marketer take that discussions of early as ultimately, greater will patients. to Alzheimer's will of will and still as and they build positive But we become have of commercial be the space, is to infrastructure

think So this certainly, go reasonably Lilly, modality. growth of AdComm the a treatment I underpin was the to it curveball and but a presumably, should for well bit continue of

Our Fitzgerald. next Pete of line Cantor question comes Stavropoulos from with the

the on line Pete. Samantha is This for Shaffer

this PXB if on you potential data extensively just by pattern observed behind ARIA-E in there that data, curious chance, lack have is thoughts hear we're females. conferences socialize APOE and of and any the the mechanistic presented the at a Is updated have Now only reasoning? mechanisms multiple the have you or and homozygote plausible to

and me fact go that we of homozygous. them. the course. have it really to those a sure ARIA APOEX -- I'm we questions, are we've didn't not and good absolute that lot, Yes, any The in have answer an about let thought

it's could would this obviously, exactly be, that the for to antibody. particular just why speculate, all not same. But all, of we First encouraging are mechanistically, say plaques really

a some targeting addition. antibody in of little plaque is with plaque reduction, oligomers Our primarily reduction bit with

that study, really know. antibodies nobody the be forms at of is EX sort APOEX has thought we to It this the in plaques about biochemical interestingly, that fact But same is as the before. learn could kind a don't think But homozygous. going start there sex The antibodies I the we've in lack more bind of differences be we're or bit. question. ARIA different to yes, ARIA And that question just good our general like that we start about more to there's And cases you finding point, level, with more a were plaque. scratch the for in And again, really in of Phase and a make ARIA it's about small looking differences more in all the as of speculation, the does understand II that. you going obviously, carefully this in in So chance at raised we're the women the in EX and that in ARIA plaques way But it to study, a and head differences rates, are lot efficacy asked in lack think by it it's we I homozygous. homozygous. your about the it's a as whether of case,

we'll a so on study, keep that close but good Phase And question. obviously our II another eye really that's thing in

next Zemansky [Operator of Instructions] with the Bank Our Jason America. question of line from comes

ALTITUDE, or follow-up, those a going what then think may. are whether either Congratulations you for given impact donanemab little the the expectations about what both on not of And if implications to Can the you of progress. a and I Curious in potentially lecanemab availability see? availability as talk and future. you the are antibodies far of as enrollment your especially bit the

Jason. Yes,

-- scripted engagement the phase that So study the highly portion call, and interest I encouraged encouraged And we're the we study of with thanks for generally. doing the the from based word level think early were on of sites, how of and ALTITUDE the the rate question. of in

and the to of pretty attention rate I about feeling about we we to are the -- think we'll the study. forth. we really the informing But I ALTITUDE. as as right drawing So And data enrollment think now, we get so where I for good of feel donanemab in approval see moment, good Phase patients' sort and

Is is have a you use far mechanism the or as protocol wait there would for subcutaneous study then would well, some least study? And that a separate at it. within that where there formulation use goes a that Got the healthy possibility goes, to potentially. or as permit in, ALTITUDE volunteer you if bringing can

to a it's take that is case, theoretically, ALTITUDE. it our guess Yes, I'd Phase study. put be -- I in course, But to So II try completely of would into designed. one. It's it possible designed ALTITUDE

the do in actually I again, would So the study do we same the ALTITUDE challenge think subcu study. patients. healthy Again, that And we will things for lot of what volunteer a a we're logistically doing formulation can is that after to be to our do. moved

But to actual we fact, In ALTITUDE the I II probably that don't try you Phase into would will. insert think study.

portion. And back closing this to concludes over our to Alex hand I'd Braun remarks. conference Q&A the for like

and thanks everyone Norma, today. Thanks, for for listening

always have we're you out. All reach a any questions, available at great company, further If right. the day. Have please,

concludes for conference you today's This call. your Thank participation.

a Everyone, wonderful may day. You disconnect. have now