Shares of Acumen Pharmaceuticals saw a significant boost, with a surge of over 50% and hitting a new 52-week high, following promising results from their Phase 1 study on their ACU193 therapy for early Alzheimer’s disease.
According to the Charlottesville, Va.-based clinical-stage biopharmaceutical company, the study successfully achieved its key objectives. Notably, it demonstrated proof-of-mechanism for ACU193 and showcased a statistically significant reduction in amyloid plaque within higher dose cohorts.
The positive outcomes of the study exceeded expectations of analysts at UBS and Stifel. In their research note, Stifel mentioned that the target engagement data for ACU193 looked better than anticipated, providing clear support for advancing the drug. Furthermore, Stifel stated that ACU193’s safety profile is favorable, positioning it to be highly competitive.
Similarly, UBS regarded the study results as a significant and positive update for Acumen. They emphasized that the findings bring more derisking for ACU193 than anticipated.
Looking ahead, Acumen Pharmaceuticals aims to engage in discussions with the U.S. Food and Drug Administration regarding the next phase of development for ACU193 in the fourth quarter.
To learn more about Acumen Pharmaceuticals and their groundbreaking research, please visit their official website.