ABOS - Earnings call transcript Q1 2022 | Acumen Pharmaceuticals, Inc.

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Operator

Thank you for standing by, and welcome to the Acumen Pharmaceuticals, First Quarter 2022 Update Call. At this time, all participants are in a listen-only mode. There'll be a brief overview followed by a question-and-answer session. [Operator Instructions] Today's call is being recorded. And I would now like to turn the call over to John Woolford from Westwicke. ahead. go Please

John Woolford

good to operator operational you joining for and Thank Acumen’s afternoon. first today review results. on quarter us financial you, Thank XXXX progress update

and you Before business may we accessible our make call, of note All the laws, on the financial statements. to within results this federal are those to that outlook forward-looking financial in is results to website these forward-looking section. read plans. concerning afternoon, we statements which press encourage we the in Investors from start, our described subject that expected meaning statements the during could uncertainties issued release including and differ conference operational securities Please and materially the statements actual risks today's cause

due of could pandemic a Please from our the the with effects results factors, including of materially review associated full extent and COVID-XX refer risks of business. SEC our the filings actual of and and of recovery differ extent uncertainties timing with number duration the the recent for it. a to the to and Our

Forward-looking Executive and Science undertakes O'Connell, call obligation statements Eric in a select on Frontiers update Medical business Dr. the with of statements. Siemers, to forward-looking revise then Officer the Chief trial. Acumen the first highlights XXXX recent will Chief and or quarter ACUXXX. on any Officer begin review for INTERCEPT-AD President no are they provide an and ongoing update discuss article will speak Daniel as which only made date today's

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

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

Daniel O'Connell

clinical our to conference we first during and and today. recent significant XXXX. the gave of that hosted potential treatment and We John. through thank multiple cash late a Alzheimer's of the highlighted trial, the our disease. be well overview public to advance progress. expected are of March call provided our through resources science ACUXXX everyone differentiation you, as that call ACUXXX Thank our INTERCEPT-AD a for quarter provides call, here to as in review an milestones and afternoon critical runway joining And ongoing Good review delighted first to I'm the you of financial

a target keep significant Given trial brief make today's to provided and the that of soluble start, ago, the To developed we first going such antibody INTERCEPT-AD our oligomers point. just update with call amyloid-beta to clinical selectively monoclonal detailed relatively ACUXXX to we're continue to enter we weeks to progress the clinic.

have new Regarding at eight selected the for end enrollment, of sites six active spoke selected and trial success with ongoing last XX potential is in - activating experienced sites, now up March. and four we additional active continued sites sites when enrollment additional This is we from sites in activation. clinical at

our trial, Given expect to parallel with made preparing the the we've In to first INTERCEPT-AD of and trial finalized. – are toxicity initiated the study drug in earlier chronic our ACUXXX. X/X future of also significant from conducting to XXXX. for formulation being year results the report process A in top production Phase line a progress, INTERCEPT-AD half product drug substance GLP progress we continue and new was

the has of FDA. end X/X team X for Phase Phase Our designing an begun planning and study the with meetings

Our trial. proof-of-mechanism demonstrating rapidly Phase INTERCEPT-AD X/X plan trial ongoing in after a trial to potential initiate the next is the

growth support coming across company's and last experience leadership areas. we've over team As providing several multiple appointments then, years. I to the continued made expertise our level highlighted expected to our during team our we've And the since to call, functional grow senior additional

oligomers. quarters, and protofibrils, novel Alzheimer's amyloid turn primarily these potential including to anticipate Alzheimer's. treatments and Phase plaques gantenerumab regulatory the beta to In ACUXXX the data coming targeted believe for data enthusiasm while Frontiers developments X not the more do upcoming in programs interest and of soluble programs additional at addition we other growing are readouts now these in recent donanemab a to our in encouraging for for call I'll to and clinical in in bapineuzumabversus efforts, or Lilly Neuroscience. We its from over publication Eric could discuss lead one Eric? disease

Eric Siemers

Dan. Good afternoon, everyone. Thanks,

Frontiers as and treatment We the turn soluble there Aβ oligomers of the titled, Alzheimer's to the supported product highlight the Matt, rationale and The I well are believe immunotherapeutic and we and poised that selectivity disease. for promising the disease. in in characterize I announced most to evidence an the over of test hypothesis oligomers profile. oligomers amyloid-beta preclinical the AβO early disease, published potential of approaches one differentiated the ACUXXX as progression consensus scientific development of call form to that is is emerging well the ACUXXX of a is Before that that toxicity for wanted targeting prevention Neuroscience most to Alzheimer's Alzheimer's that toxic reduces of of oligomer article

its monoclonal that of in monoclonal neuronal and had which other concerns, detailed associated seen found within We interact Aβ responsible importantly oligomer Alzheimer's monoclonal lead or safety problems. As to and monomers selectivity memory the were is are brain other been target with may directly for oligomers synapses given publication, mediated some anti-amyloid species, are toxicity cognitive believe for studies an oligomers, suggest is Aβ leading perpetuate antibodies. ultimately from called unique which as lack and Aβ leading antibodies this ACUXXX deposited expected such to process cells less studied differentiated to may neurons, neurodegeneration, sell that. the efficacy amyloid disease, Aβ relative selective to initiate function, other antibodies other and to that in high antibodies, neuronal clinical improved amyloid plaques. of compared ARIA-related to different Alzheimer's of monoclonal altered

We for slowing. some in potential also believe there disease cognitive addition improvement is possible to

INTERCEPT-AD next half look we differentiation, from and rationale to in first data line forward strong reporting year. of top the the Given

Phase or ability initiate demonstrated cognitive a dose of ascending eight well A as dementia. single cognition. are, as the include placebo-controlled those as in a Alzheimer's kilogram, After trial placebo. design in will trial single-ascending trial, amount the as determined impairment target of is trial a at Other and weeks, XX weeks, dosed milligrams The cerebral dose INTERCEPT-AD cohort mild milligrams bound ascending the dose with of multiple four tolerability and ascending pharmacokinetics objective dose oligomers kilogram and kilogram, per reminder or the of patients a measures safety the kilogram per and milligrams and planned Phase of the in portion. provide portion randomized as engagement cohort, The per three dose includes in the XX of determined cohort doses patients our placebo. every of first kilogram by portion. per and including portion portions The The disease, is includes dose two strategy. Included with XX per is trial multiple evaluation every to outcomes and per is the trial regulatory mild key multiple-ascending at amyloid being milligrams second To cohorts the safety two cohort, per single data patients per and with PET milligrams per dosed to demonstrate to early patients portion. with the four scans. that by the Xa/B XX portion of is crucial conducted milligrams participate positive standard, be design must kilogram, proof-of-mechanism be that significant kilogram, tolerability, expected doses X/X ACUXXX of two important in XX in spinal trial and fluid. a is XX demonstrating XX As as milligrams ascending the cohorts to

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

Matt Zuga

thanks executing And private on in financing as everyone of XXXX. Eric. to public To our that result want and I XXXX for planning you, joining. a and to Thank emphasize and start strategy

achieve We are the multiple well development and resources to clinical capitalized have milestones.

and $XXX cash we approximately March securities. As in had XX, of XXXX, million marketable

operating Looking our XXXX. plan, last we our current expect through cash ahead, runway to on based

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

our B $X.X loss period. common expenses in quarter. the to that warrants and over first for and are fair $XX.X that Acumen's expenses preferred activity our approximately XX-Q the value the of was and and IPO. XXXX cost The going a period. re-measured were quarter results non-cash few Series at million the at available the detail, was liabilities year the we I in the million issued loss being over the balance A-X public tranche a primarily warrant to increase highlight prior filed and the the prior our each the with company our period, by value due compared million, tranche trial shares quarter a $X Both the in compared in a changes want of at in liability first $XX liability million expense INTERCEPT-AD were was G&A $X.X recorded at but the fair of This period were XXXX complete R&D as going the increased warrant reporting do Note comprehensive liability to million are the subsequently and not driven the to release of extinguished results on in ongoing the initially in by were QX, headcount, and afternoon a The year public Series our increased primarily financial loss prior result from in led in following liability. shortly. be to shares for I'm The of press which Our conversion million liability the value the XXXX. IPO. items. operations year to quarter. review of our in end $X.X primarily of the increase fair to this of represents quarter, will sheet

hard continue to will reporting and first the over the data XXXX. coming to INTERCEPT-AD in work line enroll half quarters look forward top to We of

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

Operator

[Operator of Stifel. Instructions] from first line the Paul Matteis from Our question comes

You may begin.

Unidentified Analyst

on this question. our for taking for Hi, thanks is James Paul,

target it the And directly For us you I readout, be in change this remind baseline? of what will X confidence just we'll in will effect, you know, beyond of kind readout you the dose there, you from confidence level levels kind dependent guess, can to, part forward? you've second to oligomer pharmaco-dynamic in I clinical you Thanks. as response of how a know, able guess, data moving have move on percent give development, reached again, know we forward Phase assay, assess your

Eric Siemers

great hi Yes, question. Eric, is so this

of terms be in something ACUXXX, a we're oligomers. percent just change bound oligomers, measuring of at to looking to remind concentration is to the going like you, really antibody In what

been before of you've don't zero have there. So concentration dosed, antibody obviously, the is any that you

we'll assays looking challenging fairly So after but oligomers be ACUXXX, what a, actually got really bound the dosing. to them. is good are presence actively we've to crew of that, developing develop, for really Those are

as oligomers. mice. this have antibody spinal think binding that want did would to transgenic a I the in of brains fluid we minimum, demonstrate we showed We and

definitely a confirming need this is we that sense, still, it, it's just in So to do. but something

some especially as you frequently can, a know is last but it's at much I you requirement, safe. you you're and dose that a that with up dependence there's think on pretty typically that's give how be as want the monoclonal When of is that enough? long And we as be can a know minimum, these I is would show And what part depending dealing, much and as for I if of answer it think, antibodies, into question, shows, certainly got up dose that So that the think But of to difficulties that the assay necessary of get just I the with thing. goods, to which that, just basically. at finally, cost the that interest. more your better, in sort commercial sensitivity, oligomers, if the binds you're now data don't you some point, and we even antibody would then dependents say comes safe, better. limit, to

forward this of into of be one we And the one safety then it take the that to so that's study. part per study. such XX why would to reasons least kg, we X/X the doses is of and mg important can get if But do next at I an up think safely, Phase

Unidentified Analyst

much. Right, thanks so

Operator

Bristow question Our next UBS. line will the Colin from from of come

Your open. line is

Unidentified Analyst

congrats Tin our [ph] quarter. This question afternoon. Colin, taking thanks for the good and on for is Hi, on

second on without lecanemab recent you the So How our things first in on the - and future? is same as question, your we've do gantenerumab? got be will XXX you. to question. at thoughts of then higher first dose needed the particularly, any look half-life question, when think XXX will how like unfold a for a moves you And antibodies? level? other And does plasma titration anti-amyloid envision XXX Thank any do for compared

Daniel O'Connell

Hey could to follow? I your lecanemab of but part gantenerumab I clarify reference you Tin didn't the front and quite heard question?

Unidentified Analyst

like, like NCD? Oh, as decision yes, sorry it's the final same

Daniel O'Connell

right. yes Oh, sure yes,

a decision certainly, consternation course supportive frustration So there's within I think space the pull for why to and But back to generally, Biogen's going the forward. from the of I And company. a the bit for developing Aduhelm patients the good are of ACUXXX field certainly Alzheimer's committed diligently is more and of about a And think that's we bit decision. to has patients. that offer setback, strongly CMS optimistic we're been

we'll these stage reimbursement of terms some perspective. later and to information think see should that safety a be readouts both regulatory of us profile. And more the in benefit deliver risk for from for learn I other what products

for patients we're doing Phase In half-life X terms the in that's ACU-XXX right of plasma the now.

titration, of a have instructive maybe in we'll a data, think more basis. that that now, we So have regards I to have we that Once as do information as don't on comparative oligomers. will ACUXXX Aß it the with was that And ARIA plaque antibody. against we basis are selectivity oligomers, don't have for the on of rates think of the targeting developed observed

underpinnings will, if plaque of the we some some the part undergo. antibodies we've to got support to again, profile. of So had of in have don't you other clinic that data safety titration of generate the a But anticipate like the to targeting

Unidentified Analyst

Okay, yes, that's you. really helpful. Thank

Operator

the I'm to and queue. President further any showing Dan in talk questions And Thank oops. not concluding O'Connell, for you. to I like CEO

Daniel O'Connell

this your update you, Victor. ACUXXX coming coming joining us thank in interest afternoon. look Great, I to the quarter. Thanks, we forward and next and in Thanks. the for everyone, in the Acumen appreciate

Operator

conference today's thank This participating. call, for concludes you

great You may now day. disconnect a everyone have

Acumen Pharmaceuticals (ABOS) 17 May 222022 Q1 Earnings call transcript