ABOS - Earnings call transcript Q4 2021 | Acumen Pharmaceuticals, Inc.

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Operator

00:07 Thank you for standing by, and welcome to the Acumen Pharmaceuticals, Fourth Quarter and Full-Year 2021 Update Call. At this time, all participants are in a listen-only mode. There'll be a presentation followed by a question-and-answer session. [Operator Instructions] Today's call is being recorded. 00:25 And I would now like to turn the call over to John Woolford from Westwicke. ahead. go Please

John Woolford

operator. today you, year Thank for you operational XX:XX review Good Acumen’s us results. to and full fourth joining progress Thank financial afternoon. quarter XXXX and

view statements we our the the it. the well Before website the timing could effects financial afternoon, the from and we within please X, note in a of issued the differ results during may the Slide and of federal full Investors make the statements. factors, call, that laws, cause extent statements filings press operational our forward-looking encourage are both plans. we meaning you of as on associated our statements materially review slides this which the shown refer webcast, As could these risks SEC forward-looking business. start, of duration subject our Please recovery with securities actual those Our the in to for today's with of for to of that materially the as expected of concerning release actual this the recent conference XX:XX results section. results All due to are extent including accessible and and uncertainties to XX:XX differ and including on and to described COVID-XX financial pandemic number and risks a business uncertainties from outlook

INTERCEPT-AD a will and select then Forward-looking overview date highlights. revise Officer of to call Chief update statements. Eric primer or O'Connell, oligomers XX:XX the Executive amyloid business begin forward-looking made with XXXX beta today's statements provide which on Medical ongoing discuss Dr. obligation Chief Officer and a Acumen and speak trial. no as undertakes Siemers, and level review only will of the President Acumen are on quick high any they Daniel

brief provide Zuga, update. Officer, financial who Chief Financial will Matt a Next

Q&A. for Dan call open Chief call then XX:XX We will the over to and I'll President Officer. O'Connell, hand the now Executive

Daniel O'Connell

afternoon, today. be thank as to Acumen, by first Slide several major Good IPO. Thank XX:XX call conference and the you a delighted year joining to John. was company. public for XXXX transformational the including to everyone highlighted XX:XX Moving a accomplishments, you, X, our here achievement on call of our I'm successful

Alzheimer's moment our is received a novel this brief call, significant on last of As those public of has to attention company. focused is the for development may want to the Acumen and introduction a which I given be new take Biogen's the to disease, first over that to launch the Aduhelm. for Acumen therapeutics targeted provide approval year

trial the on is in assembled of first of employees targeted To is the extensive the approval scientific resources development. included to XX:XX to proceeds XXXX. that amyloid-beta were We in investors Acumen beta promising multiple of Alzheimer's toxicity of provides XX:XX IPO the respected biotech As living Aduhelm mentioned well supported multiple key selectively people supporting we for ongoing in brought now form monoclonal of expertise the amyloid an from ACUXXX's shown amyloid are early treatments XXXX the in Eric proof through guide is our most is business XXXX. product will the oligomers discuss completed offering programs. development other approximately We first enter many drug with of preclinical an ACUXXX clinical Phase Many and treatment XXXX. from is Alzheimer's potential progression to team. product that substantial anti-amyloid development, and need oligomers next target financial prevention expected clinical differentiation half lead X the ACUXXX’s earlier, companies is trial to to milestone experienced extending I Eli Slide to successfully While cash leadership developed testing. move for team have with by mechanism the part to in targeting key significant its have antibody data of monomers, the believe that data formerly industry gross our discovery advance highlights The has controversial Alzheimer's. ACUXXX consensus XX:XX disease, toxic ACUXXX, raised beta in X. pursued million us one Alzheimer's fibrils enormous $XXX and Lilly's plaques, runway for and to milestones help I'll through oligomers. now the needed reduces XX:XX there we Our in of amyloid disease. is While as shortly. some oligomers focused Alzheimer's which potential our an of on approaches of a attention emerging and most

Directors the our our dosing of of study completion design of or to Following accepted Alzheimer's leadership with the conference, further funding we trials patients disease. Tin several the Stephen over Head and years, growth gross pleased the three Bockenstette, mentioned. To establish bring balance the and and made safety The experience patient discussed support lives to first the initiated new strengthened Board in and also from oligomers, to Series of Reynolds, rationale companies, pharmaceutical the collective include the level strategic a more XX:XX leaders B working experience Siew Turning Kim tranche publicly IPO as planning. in June, and and designed cognition X. the raising and amyloid-beta October. of be to [indiscernible] with $XX rapidly X. to finance a to then XX coming improvements proof conference capital Treasurer. financial any leading Clinical financing trial, the like $XXX Controller potential XX:XX Julie functions mechanism for is trial INTERCEPT-AD XX:XX effective at opportunity Head leading INTERCEPT-AD deep clinical were appointments company's for how years proceeds Slide blood brings senior welcome team. clinical million XXXX brain. we All Alzheimer's in in on the Ms. Human including Corporate and sheet flow the recently November Drapkin assess to this present in use of we Relations; expected I'd than then passion building of the traded I and in million to targeting Operations; We and private raising and to our of disease biotechnology Gan, April Drapkin the improving We of CTAD Boston. of scientific our At

trial. significant make in the INTERCEPT-AD We advancing progress to continue

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with X X/X for meeting have an We the FDA. of end and begun study Phase designing the planning Phase

of Given Medical this headway, able next we trial. in turn demonstrating I'll Dr. INTERCEPT-AD the our Chief to Siemers, proof call Eric being initiate the anticipate XX:XX mechanism after rapidly over now Officer. to the trial

Eric Siemers

afternoon, quick oligomers. I'll XX:XX primer on a with to start Dan. everyone. Turning X. amyloid-beta ACUXXX today Thanks, XX:XX Good Slide and

lead to protect of believe in believe studied Alzheimer's to are amyloid species unique different oligomers, If As amyloid known less that relative preserve body pathology are antibody is disease, major nerve efficacy antibodies. monoclonal from monomers ACUXXX designed the component Dan Aβ oligomers cognitive other by ACI of improved accumulation connections to concerns, to selective deposited compared and seen a growing for mentioned, expected called that are XX Aβ which clinical is form binding and progressive neurodegeneration. X:XX of in (ph) with and safety that What monoclonal Aβ binding high disease and disease. to We oligomers ARIA-related is Alzheimer's in and as cells The with neurodegeneration. evidence prevents indicates inflammation. antibodies impairment, oligomers seen selectivity target an trigger as can that Aβ monoclonal antibodies lead pathology persistent help associated nerves, decline are may the to monoclonal these makes specialized is driver other Alzheimer's plaques. which anti-amyloid evidence them By or of antibody studied AUCXXX's function between or our which of A binding as neurodegeneration primary for [indiscernible], there amyloid-beta parts and of with to to nerves a oligomers, lack other a are Alzheimer's of address Aβ ACUXXX the proteins. so Aβ of as toxic from memory also oligomers differentiated such Alzheimer's well importantly, Aβ we to monoclonal this beta oligomers, loss disease substantial Aβ other

disease to a for XX:XX Phase is some forward. trial. that provide there now overview introduction, believe in X addition With the improvement brief possible also We of I'll ongoing INTERCEPT-AD potential cognitive

shown Phase are studies Slide X, trial. the As Xa/B on placebo-controlled randomized,

mild XX weeks I X included the portion there by portion design two is great first in the milligrams XX of dose of Slide milligrams study. and three that shows must determined and per is dementia. by cognitive multiple-ascending cohort outcomes objectives is oligomers B, illustrates of mentioned, the demonstrating single and measures a patients trial second after with of In be per milligrams proof include trial patients tolerability with evaluation Part cohort of portions single-ascending B. engagement XX eight or dosed Part I'm patients of to doses and of ascending trial every Slide that demonstrate a mild per objective pharmacokinetics dosed a interest as of and ACUXXX includes the report dose cerebral the of positive the As being Part that patients cohort A XX, trial is the the dose XX:XX cohort to the in participate To an are of initiate ascending everyone at and not amyloid detail. the trial, four indication multiple fluid. as XX:XX XX:XX safety to the weeks highlight two the every of we mechanism, scans. dose key demonstrated in give tolerability, to dose XX Alzheimer's to and want them disease per early cohorts cohorts spinal with per out, a important the the cognition. XX read multiple-ascending INTERCEPT-AD. kilogram ultimately Other single-ascending with portions, and kilogram determined going at from plan ability the A, in to safety those to down design in X dose targeting the includes in and Dan placebo. four the kilogram X, time, wanted all as portion but PET data conducted XX doses or standard, The placebo. we including portion As portion. impairment of Part trial

a we see, that as will important planned expect data the provide trials, advancement of the of well the Ultimately, that strategy. significant design trials. that can expect you justify is our XX:XX X/X Phase be the in will as amount what's into trial to most Phase we crucial a X/X As data regulatory

gets X/X central Phase demonstrates to I We Chief INTERCEPT-AD Chief Assuming program With the study. shows confirms ACUXXX and Business acceptable target plan into to Zuga, to that, tolerability XX:XX Matt compartment Financial Officer. and will advance turn safety the engagement. our the over call and the Officer

Matt Zuga

start, thanks Eric to Dan To reiterate joining. you, for I to what earlier. and Thank said want everyone XX:XX

and XXXX the have private result resources and As capitalized and and strategy XXXX, clinical development executing milestones. planning our achieve we well a multiple financing public are in to on of

XXXX. XX:XX December plan, Looking of securities. XXXX, to last on marketable through had based approximately operating XX, we $XXX cash our current runway in As million expect ahead, our we cash and

Our the strong IPO Series in result the and from and B balance completed XXXX financing of proceeds XXXX. is sheet

at XXXX. Acumen’s initially XXXX highlight were to expenses $XXX.X for release value over each to the are conversion XX-K, increase and full results we shares in afternoon in and Our complete financial enroll our be liability. XXXX which press a result results filed for the XXXX. first detail, at INTERCEPT-AD the shares quarters R&D sheet $X.X IPO. year. being and The will tranche to trial driven expense going Series primarily the the in and were increase were XXXX this of to the in common the of will of XX:XX in items. cost changes by reporting data review at recorded our I'm coming of I tranche to hard $XX.X shortly. million our the initiation by want non-cash We B following topline year. loss on Note continue result fair to The million. our a few balance year and as available was $XX.X were of was A at but This of not issued do over fair both liability loss subsequently $XX.X primarily public in look extinguished the our headcount a of liability million G&A going Series of expenses our value end of reporting half million our was are warrants This the net and public the in the operations to that and XX:XX that during the the increased the IPO. forward of liabilities for work represents period, and warrant company a the a full led with million from liability preferred liability remeasured primarily fair value INTERCEPT-AD warrant the

to and we'll XXXX. now Importantly, we trust maintained floor effectively operate our through Acumen up cash shareholders ensure for runway support continue our open to and cost and partners efficiently thank is questions. their will the We and ongoing for

Operator

first Instructions] from question [Operator Matteis comes Paul with XX:XX Our Stifel.

Alex Park

delay the bit I like, wonder Thanks. that what questions. have for our an you intercepts would in the have Paul. wondering, Thanks taking Alex data kind expanded elaborate little and of top I you there. prepared ups. on that topline. slight data? remarks, Then of for for Hi, is set follow the would I mentioned a allow for you line think other XX:XX This I was Dan, the if a couple could on more how that impact looks to

Daniel O'Connell

question. Alex. Hey, your for XX:XX Thanks Yeah.

period, the of COVID of definitely we've real quickly, Just I follow-up front is, think impacted looked what terms the in the has end at study.

by and the to with of I level at building. now, we've think more is right site momentum progression, we're really both encouraged do, enrollment, got rate the work but certainly the

at I be day terms we had In a to looking patients follow-up. would earlier, discussion out top XX but period, the of some the preliminary putting out think there line one, that's meeting for prudence little have on. are and reported around the results allow follow-up X There a and bit carry would day following dataset a out XX major Phase that presentation study follow-up the meeting basically that to to the subsequent us the be basis one, as end dataset at of been the

the announced. call might with when expectations and be set So today both to and topline our on what was on clarity results timeframe that's goal would they really be the

Alex Park

confirm to final makes if and guess, confirm and runway Phase XX:XX not look little sense. don't expectations how of about patients had if embedded I if far you're on started in that you've safety of I can’t how that our Yeah. that dosing. on can a that's if I blinded But chance know are any expectations includes you've That for that, wonder and in how whether And could you that? dosing bit, commented runway, I terms what's your you data you you or wonder, And Thanks. at thinking ARIA? then for and X/X you or study a if could XXXX And talk fine. answer my question instances

Daniel O'Connell

Alex. Thanks, Yeah. XX:XX

terms in first dosed in the patient. third at we study, I the of what the So where end we we of the think announced that quarter are

and have patients providing blinded that dose the to modifier sites. of can't patient best I or We level has information both can't study shift We're that at this point or terms have our say expectations, looked and nothing continue -- duration. there seen data suggested I that at design we safety cohort we at level is not in multiple

on it’s ensure runway have just resources element. to that from the multiple the -- the operational we're cash as an I as milestones. -- was hand clinical perspective, the we've of more really envisioned, think from So the part to hit IPO of XX:XX strategy runway B and always the we capital well

So Phase general a is in resources So the X us target bit a fact completion we of dataset Phase hand XX:XX fund It product have a would of to minimum the have safety been hope I intact, study. as this runway in think allow its lease but through proof to in volatile we're into we to to the the essentially study INTERCEPT-AD carried on a forward observations do markets demonstration concept. the study. into at that that period, in study will Phase X/X recent think performs moving provided INTERCEPT-AD that support X we engagement and into the a feeling

Alex Park

you. XX:XX Great. Thank That's helpful.

Operator

America. Geoff XX:XX Our Bank Meacham comes next with from question of

Jason Zemansky

FDA's these environment. at afternoon. Good willingness of results taking much Certainly, on, the a is environment has Jeff. moving suggested our approval reimbursement, move opposite strict CMS at Phase is get with on as thinking the trials X of much kind little are questions. all as hand while dynamics to putting looking influenced permissive what dynamic a time this think early, signaled your Wanted with more more there X/X, the of get towards broader would done your a and attitude but forward Obviously, the you forward this? so Alzheimer's you it's This together. and specifically same terms the to in but your to one thinking is potentially on for obviously, Phase then treatments, Thanks of level love about a for Jason as for and far comments the XX:XX regulatory

Daniel O'Connell

good the XX:XX determination and it's Hey, the and the XX. the a for will question will bit basis we on little one Jason. on Thanks learn CMS of more I all April say,

development is for into Alzheimer's I that. drug an tuned We're the development that think So important field.

come X To also INTERCEPT-AD the months. we be will interaction the of and an interactions regulatory going is FDA actions a on would interim XX think course have regulatory basis either think undertake establish for or the The -- to how readouts end the with data I of of we're plan a type me Phase the of months. X results of probably again, exists, in our the take but I with Phase learn X study about XX study the those X that clear, dataset into study. early an it's some really and in speculate to other and next to much are possibility our basis XX, and next be that when Phase from observant Phase additional of to as move the we'll submitting on met will the too criteria to certain for over be to next peers if

Jason Zemansky

color. the thank XX:XX for Perfect. Really you

Operator

Suisse. XX:XX Our with next Credit from Frommer question comes Judah

Judah Frommer

think how where those antibodies follow-up maybe your internal to XX:XX cohorts, Hi, Aduhelm questions. started might kind for affect we the would follow-up Aβ it X -- Phase now for for your state data the of and thoughts battery now is a assumptions? how earlier pricing might one. a given than guys. that for And the guess if taking on higher Maybe right obviously, then right or price and that, affect so, Maybe potentially those days when that get just beyond pricing longer COGS is earlier be that XXX Yeah. having at just beyond I do about not it Thanks affect that the cohorts? on quick

Daniel O'Connell

Judah. XX:XX Yeah. Thanks, Hey.

they changed where I modification. expectations out came adopted the pricing history like, or We'll -- terms relative I at our made they suggested that we of see CMS of of particular any Pharmaceutical and of think (ph) I Biogen we're mean that price In margins models. a really at be maybe have=-- products high we to think particular haven't marketplace materials we think have, goes, and cost approved. ensuring several has we a that in a have may cognizant and other I point that looking dosing

pursue So answer think affect I in too ARIA the simple discussion. ultimately differentiated strategy bit think probably to imaging go position assessments the it's a with those terms us gives in a I certainly goal would that that us available, is market reimbursement rates our data of are essentially look develops are is what future. second we're and at guess to additional clinical factors on and follow-up ultimately safety little early And terms how into in we efficacy. contribute the to the question clinical for duration, generate would pricing XX:XX a the pricing to would I for again, primarily of safety. -- this in what other But and both a

that we're I just would of those COGS XXX full referenced that battery a oligomers administered based on types highly be acute yes, a of criteria We computer and out those of safety that we for compute which study. calling in the employing signals. determination a day Phase word the able state repeated we're not measurements think measure there this a powered would again is really it's that sensitive or the impact interest a highly unlikely really really Aß neutralizing effect toxicity the And are in is that as detect profile. pharmacodynamic caution, on of to if You follow-up, X an battery just

Judah Frommer

you. Thank it. Got XX:XX

Operator

showing turn XX:XX call like to to the I'd time. at questions any closing back over further And this remarks. for I'm any not Dan

Daniel O'Connell

in you with call. for and you, thank and on business future first Kevin in be our company. updating look forward company progress, you engaging public the the both clinic earnings Well, and with highlights and thank the everybody joining you our XX:XX We to near

everyone. you thank So

Operator

does today's conclude Ladies gentlemen, presentation. this XX:XX and

You wonderful disconnect day. have and may now a

Acumen Pharmaceuticals (ABOS) 28 Mar 222021 Q4 Earnings call transcript