Acumen Pharmaceuticals Files Q2 2024 10-Q

TL;DR

Acumen Pharma dropped its Q2 10-Q on Aug 13. Check financials.

AI Summary

Acumen Pharmaceuticals, Inc. filed its 10-Q for the period ending June 30, 2024. The company reported financial results for the second quarter and the first six months of 2024. Key financial data and operational updates are detailed within the filing, which was submitted on August 13, 2024.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational status of Acumen Pharmaceuticals, Inc., crucial for evaluating the company's trajectory and investment potential.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Acumen is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Players & Entities

• Acumen Pharmaceuticals, Inc. (company) — Filer of the 10-Q report
• 20240630 (date) — End of the reporting period
• 20240813 (date) — Date the filing was submitted

FAQ

Key Financial Figures

• $0.0001 — ich registered Common stock, par value $0.0001 per share ABOS The Nasdaq Global Select

Filing Documents

• abos-20240630.htm (10-Q) — 935KB
• abos-20240630x10qxexx311.htm (EX-31.1) — 10KB
• abos-20240630x10qxexx312.htm (EX-31.2) — 10KB
• abos-20240630x10qxexx321.htm (EX-32.1) — 5KB
• abos-20240630x10qxexx322.htm (EX-32.2) — 5KB
• 0001576885-24-000092.txt ( ) — 6323KB
• abos-20240630.xsd (EX-101.SCH) — 45KB
• abos-20240630_cal.xml (EX-101.CAL) — 83KB
• abos-20240630_def.xml (EX-101.DEF) — 209KB
• abos-20240630_lab.xml (EX-101.LAB) — 634KB
• abos-20240630_pre.xml (EX-101.PRE) — 430KB
• abos-20240630_htm.xml (XML) — 894KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Balance Sheets 4 Condensed Statements of Operations and Comprehensive Loss 5 Condensed Statements of Changes in Stockholders' Equity 7 Condensed Statements of Cash Flows 8 Notes to Condensed Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29 PART II. OTHER INFORMATION 31 Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 31 Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 31 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32

Signatures

Signatures 33 1 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will" or "would" or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following: the sufficiency of our existing cash and cash equivalents and marketable securities to fund our future operating expenses and capital expenditure requirements; our ability to obtain funding for our operations, including funding necessary to develop and commercialize sabirnetug, subject to obtaining necessary regulatory approvals; the ability of our clinical trials to demonstrate the safety and efficacy of sabirnetug, and other positive results; the therapeutic potential of sabirnetug, including its potential for improved safety and efficacy as compared to other monoclonal antibodies approved and/or in development, as well as our expectations concerning the INTERCEPT-AD and ALTITUDE-AD clinical trials; the success, cost and timing of our development activities, nonclinical studies and clinical trials; the structure, timing and focus of our future clinical trials, and the reporting of data from those trials, incl

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. Acumen Pharmaceuticals, Inc. Condensed Balance Sheets (in thousands, except share and per share data) June 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets Cash and cash equivalents $ 67,955 $ 66,886 Marketable securities, short-term 192,517 176,636 Prepaid expenses and other current assets 6,443 3,093 Total current assets 266,915 246,615 Marketable securities, long-term 20,908 62,553 Right-of-use asset 325 381 Restricted cash 235 233 Property and equipment, net 105 122 Other assets 425 221 Total assets $ 288,913 $ 310,125 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities Accounts payable $ 4,211 $ 1,379 Accrued clinical trial expenses 7,027 4,387 Accrued expenses and other current liabilities 4,004 6,339 Finance lease liability, short-term — 756 Operating lease liability, short-term 125 110 Total current liabilities 15,367 12,971 Operating lease liability, long-term 219 284 Debt, long-term 29,380 29,897 Total liabilities 44,966 43,152 Commitments and contingencies (Note 10) Stockholders' equity Preferred stock, $ 0.0001 par value; 10,000,000 shares authorized and no shares issued and outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.0001 par value; 300,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 60,079,778 and 57,910,461 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 6 6 Additional paid-in capital 502,313 489,453 Accumulated deficit ( 258,208 ) ( 222,798 ) Accumulated other comprehensive income (loss) ( 164 ) 312 Total stockholders' equity 243,947 266,973 Total liabilities and stockholders' equity $ 288,913 $ 310,125 The accompanying notes are an integral part of these unaudited condensed financial statements. 4 Table of Contents Acumen Pharmaceuticals, Inc. Condensed Statements of Operations and Comprehensive Loss (in thousands, except share and per share data) (unaudited) Th

View Full Filing

View this 10-Q filing on SEC EDGAR