ABOS - Earnings call transcript Q2 2024 | Acumen Pharmaceuticals, Inc.

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Operator

Hello, and thank you for standing by. Welcome to Acumen Pharmaceuticals Q2 2024 Conference Call and Webcast. [Operator Instructions] I would now like to turn the call over to Alex Braun, Head of Investor Relations. Please go ahead.

Alex Braun

Thank you, operator. to and Conference quarter financial XX, welcome our to ended and XXXX. update business results morning, the Call Acumen discuss June Good for the our our today and Dan me Chief O'Connell, With Matt Officer. are Zuga, CFO and Business CEO; prepared have the and then Dan call some we'll questions. for and remarks, Matt open

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

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

over the that, to with I'll turn call So Dan.

Daniel O'Connell

arm, and to safety to with study XXXX. At us has from our made currently for North oligomer-targeted and U.K. than a present, next-generation and America, on in ALTITUDE for enrolling. ALTITUDE-AD the morning, progressing of execute with patients is its amyloid sabirnetug's total per our XXX faster of thanks participants. treatment active of XX progress due disease. continue beta our to MCI efficacy randomized, the of participants approximately our sabirnetug XXXX dementia is for on which everyone, in Phase a enrollment actively more dosed Good strong as plans the or highly subject our study the Alex. evaluate based distinct with Alzheimer's positive across We May sabirnetug, in ALTITUDE placebo-controlled than clinical XXX clinical today. early we sites We've for joining of action the first I projections, first attribute mechanism is original half Phase data. II by mild is antibody significant in investigators, profile supported Thanks, and interest and encouraging. double-blind, ALTITUDE-AD, feedback designed treatment AD, this EU, to X-arm the

sabirnetug. plans had PK dosed we study interest we have treatment subcutaneous first quarter Additionally, sabirnetug. Phase of this enrollment in our study steps the factors aims subcutaneous in XXXX. patients dosing sabirnetug. In will in of to trial extension available the sites this and line caregivers. positioned our I sabirnetug and options best We product announced the underpin discuss all Once between compare with for be growing the top pharmacokinetics will of will X and encouraging team early July, administrations study we AD in in an for next rate, treatment flexibility combined an view has sabirnetug's of be hand, volunteers. clinical results bioavailability we important convenience healthy results as stream and built highly These translated quality into productive have in and working for first to regions. work We novel relationships subcutaneous differentiated and anticipate subject of offer the also intravenous which potential from profile, a The in

Acumen sabirnetug. Conference, presented Turning or further clinical with AAIC. our INTERCEPT-AD data team International recently experience analysis the from continued now trial learnings at Association to Alzheimer's The from the

team data supportive biomarker the voice and the of and patient of in humanizing of presented Alzheimer's need design detailing at this trial underscore from action medical unmet takeaways major patient small patient ultrasensitive posters amounts conference in the Our measuring mechanism Alzheimer's into disease. fluid. The of cerebrospinal interviews, of interviews sabirnetug's importance sabirnetug Acumen's method incorporating our

would patients keep and XX% it getting all as to Almost worse a slow cognition, patients ones. progression the from maintain recognize getting changes nearly with mood of ability as memory expected, to like commonly with difficulty reported of and As love with communication, reported. lost, well difficulty treatment the also difficulty in or were disease

received section synaptic in binding. Investors We is the in fluid observed our if amyloid to significant inhibit and Phase can haven't found These them. study, consistent towards our cerebral on posters both with the a be you neurogranin already I ability had and also synaptic biomarker sabirnetug's interest pre- beta website, proteins, X showed normalization, which strong changes spinal VAMP of oligomer chance postsynaptic to reduction review

the and the oligomers, on and of was fluid move and such the usual, of biomarkers data AAIC, like and as anti-amyloid on monoclonal that the increased chronic shared Alzheimer's, continued expanded as role interesting will development future including important beta antibody treatments sabirnetug, biomarker there confluence and diagnostics dosing extended great information AD. beta the of toxicity soluble at to of in the topics novel with field of sabirnetug further AD, the These access of to a We therapies. deal progression help antibodies, such amyloid species for program. As the next-generation topics acceptance support breakthroughs amyloid will data pTauXXX believe soluble of pathophysiology of persistence our towards relevant tracking number a included safety efficacy species, fluid play as

sabirnetug's into our Phase this for a to for mechanism X. dive intend planning Finally, to results We and provide supporting R&D action, virtual clinical on plans clinical event we deep Day are of rationale I Phase II scientific host a sabirnetug. October the

to to science. I remain thoughtfully with of risk and significant that, potential committed sabirnetug's and updating the on by with a we data advance as towards encouraged and We with and you. program, to as understanding priority the with our registration and sabirnetug, II I'll work Thank is are a will development event. We and true look strategic delivering over will a for the Alzheimer's closer communicate of clinical the the direction financials. updated an the turn efficiently provide line headed, that in field next-gen new disease the our we forward demonstrates benefit profile. And inflection to believe details to is agenda for you to data the value treatment compelling highly Matt Phase call that

Matt Zuga

Dan. Thanks,

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

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

benefit and of Phase to sabirnetug, ahead we open are develop We are committed patients, of subcutaneous shareholders. And a study, can well II for formulation for and resourced Q&A. the the with opportunity the us on call caregivers for and Operator? to delivering our that, of

Operator

BTIG. question Tom Shrader comes line with [Operator Our the Instructions] first of from

Thomas Shrader

ARIA? would or question II What require people less enrollment the are with like expect very products? patients number you're going Is trial U.S. limit I of approved I some in on to it the for to going a Phase patients potential by highly compelled have are are in enthusiastic. And But you what you or X patients? Europe, are is enrollment U.S. and getting? tricky

Daniel O'Connell

I expectations question. our forecast. remarks, are date, in And to Tom, the earlier thanks. at encouraged mentioned rate. from Great And it original as our exceeded the enrollment we prepared has

need underpin the this Phase of this think I a differentiation really of I as population the the data well that in as unmet consequence sabirnetug. is

in Lastly, favorable study the versus placebo been extension. study design X itself, doses active have that the feedback very the from and sites an then investigators open-label incorporates and

we in regions terms choice ALTITUDE-AD earlier. preset demand -- So split covering each those of that of between a the patients have we'll lot or Europe. mentioned but we're anticipate to a do in Can't seeing of North territories think and participate and America study haven't mix, I and the participation,

Eric Siemers

seeing we're I'd rate bit to Maybe our is which add patients and exceeds the which little expectations, projections that. great. at really Yes, a just

the be, sites multifactorial, like it's might III now it's ask already protocol that we've We've design. the an extension It's and as we have what that but a drug. And might sites. study that the most do sites You U.K. started from of was of then But We open study it's I Phase in the really strength and added sites biomarker U.S., is really, label secondly, lot data our that's seen patients. Dan yourself changes a but patients. of mentioned, done I in We've and adding are that with currently, Canada, a encouraging in partly, the where the the small that. like like for in study, why Phase Phase think probably they II heard our the Europe. we're

in patients more enrolling other be we'll geographies. So those

Operator

Bank of Our Jason line Zemansky comes of the with next question America. from

Cameron Bozdog

Jason. This the is for quarter. Cameron Bozdog on on Congrats

the undergoing patients? anti-A-beta of thinking an think in but payer appreciating has for it reimbursement? And itself? it you differentiate challenges physicians, early, to is been it's to potentially Or do more see what the then needs or educating market it landscape, engaging Is the issue gating do major infrastructure, been broader you with itself? maturation sabirnetug So factors? finish commercial access about Or opportunities have that

Daniel O'Connell

new multifactorial treatment of you've listed of made from likely one of around to anticipation it's diagnostics, to I the that continue I and are basically now infrastructure couple biomarkers, built Cameron. the Thanks, more meeting of treatments, awareness to or interesting out And that of Lilly this impact issues of paradigm. There and points will think also, that these approved products. We blood-based into are be growth field. seeking think, draw these at patients first marketplace, the we've this is fluid the out treatment. the awareness the inhibiting AAIC the expansion of least ramp out and in into that sort the expansion We'll is the possibility the continue growth think coming metering with

is So multifactorial. it

continue made, infrastructure good been progress there's the they out. think and I rolled will to be

mechanism patients its promise that In differentiated. as either offer of conviction that, efficacy is terms single and have differentiation, or has we absolutely of is of of really an benefit the to our And early consequence profile. And AD and sabirnetug safety. treatment differentiating focus in improved option terms risk on yet high a that's to both

know, that don't have So if follow-on addresses that's of Jim -- most questions. I or Eric, your I think comments? you any

Operator

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

Unknown Analyst

is Paul. This on Mark for

formulation the curious, we then does forward like subcu to be successful? and for sabirnetug, that what were Phase would So look I formulation if path in parallel the intravenous the were for assessed the

you additional then target ALTITUDE-AD would the more oligomer separately as that could what any would could enable then be details be And And analysis, robust pursue? plaque well. an if that, provide interim that that dose? And you great would like dose for of Or engagement? on

Daniel O'Connell

to one efforts. that as to on lead our development direct Jim I Sure. want

James Doherty

subcutaneous -- version. Happy program to first understand the we're think, question, to development then. answer really Sure. your the bioavailability is the of the subcu take the for up Mark, to I it

So what is with that's Halozyme IV from first AD. the the from INTERCEPT we're healthy align goal in study the the here work the subcu the of learning without to really studies administration from the with PK [indiscernible] volunteers ongoing and formulation

proceed. I think that, beyond we've how to on of had options number a

dose based with be of targeting sabirnetug. evidence brain, as And the I see overall data that as I. around targeting some of oligomers subcutaneous INTERCEPT, that engagement going will be think to well. And point to of of dependently the is soluble IV is think target think we and for synaptic different view to in demonstrated AD. and the we've are think these course, to our oligomer plaque also in And is the dosing same Phase intended beneficial no function on reason cognitive a got effects soluble dosing, effect range the the targeting to range on formulation. focused the for from reduction high of that I from function hit We've the an that that's confidence we the reduction both as We're hypothesis from that, we're formulation. having of purpose of I

So that's where at we stand of sort this point.

complete to And the by data-driven of move analysis, I then subcu are based with -- efforts the we'll Phase study forward end the Our a steps. next ongoing on year.

Operator

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

Unknown Analyst

is Pete. on for Samantha This the line

signals? would enroll? tau specific you with like plaque perhaps So baseline characteristics AD. clinical subpopulation in other the higher benefit, tau, the proportion Are Considering efficacy have with centroid looking or those you the to early showed patient to ALTITUDE-AD of Abeta how is the patients outcomes antibodies patients greater are study enrolling ideally you versus with levels, such population like with increase low tau high ] seeing [ from that thinking about as likelihood to a the

Daniel O'Connell

Thanks, that you do take want Eric, Samantha. to one?

Eric Siemers

Yes, sure.

question. same MCI is frequently we for patient is I dementia, the study, used mild early now. that with great population patients the yes, actually targeting Alzheimer's which Phase symptomatic We're being and So disease called which

point trial based is scan a scan, risk better As [indiscernible] less those PET have people can a done trial people may our other on out, CSF. What PET carefully. that antibodies tau we've enter who in amyloid have or based results the on either you

little in bit right we're get a now. a the with [indiscernible], little in are which disease. you earlier to relatively the particular, is that, tend in lower by practice people doing PET what's people scans visual But who For read, using used bit a

And so we've pretty population confident targeted we the here. feel that right

people on symptoms PET Alzheimer's disease, in on obviously early they or have are they're but course and of scans there amyloid So who both and have relatively CSF. the based based it,

James Doherty

Samantha, just maybe add And is Jim. a little to to this that bit,

of the fluid-based diversity is in part space investing study is the in imaging the amongst still that populations. patient what understanding and biomarkers think much the evolving and so is we're I reason ALTITUDE both exactly

understanding and is And intentionally understand relate the so I around the of how very be Eric our the space. as Alzheimer a importance positioned grows different very field area, individual as is populations. I to But to that's targeting out, to we're pointing think biomarkers well emerging this Acumen as understanding early in patient going to think going

point. So at we're we think in shape pretty good this

Operator

with UBS. comes the line question from of next Our Trung

Trung Huynh

Trung Huynh from UBS.

a subcu I've the couple administration, there. on Just got on

it of at have Just volume home any just data? on you do So Is trying to this the this an in hospital? presented with XQ injection? in convenience auto of us could in Can color details we you any And idea product. And done it particular, on the be or then this? an what's any injection be give data, using? safety see could the can that get you're what

Daniel O'Connell

that do quickly guiding bioavailability establish forth. -- for and safety have Thanks ALTITUDE-AD. dosing think formats. not just that I'll IV in And we'll question. we have bioequivalence different for I we're of the and -- think so sort to point, of I have volumes of variety trying At or a will data in we that this disclosing range we're delivery therapeutic the will using we're versus look data. subcu

brought been of good it to to not us We're good have formulation as and be partnered this to program, we I'm bit this on fairly subcutaneous volumes. how Halozyme comment. to fortunate of frequency a But help and advance information to assess point, in We and view terms sabirnetug. at content want deliver to with of the and clear up prepared bear what to a dosing on partners

Eric Siemers

you patients. to volunteers, is it's that on that And little in study this in Yes. bit, expand maybe not just remind healthy a to just

shouldn't issue really ARIA an in of so safety. terms And be

safety just is injection that anticipate reactions sort site that good. thing, of quite the be but we and more So that, should

Trung Huynh

it's down there. following what Should up, you expect there, I the we our mentioned to here? just And a line. a ] [ know expect should Halozyme bit with partnership the -- way we from financials pay

Daniel O'Connell

Yes.

line. are the publicly. it's -- terms those So not disclosed down the mean I

been with matter I range of Halozyme. It's record, though. a nonexclusive think public it's a

Operator

the next Ghosh H.C. line [Operator question of Wainwright. Ananda with Instructions] from comes Our

Ananda Ghosh

have I X questions.

[indiscernible] one neutralizing the first tau from pTauXXX showing benefit question What's ]? a low predict is is, the trials? And with a clinical to The AAIC and data population read-through prior second protofibril. lecanemab data due the the specifically long-term patient high the at can ACUXXX for [ for

Daniel O'Connell

Thanks, Ananda. Eric, question? that do you address want to

Eric Siemers

Yes.

a So as question. well, this pTau. sort far is as of form the Intuitively, pTauXXX, great that, you think would of

tau should correlate with So it PET.

sensitive as a It such it's out, turns correlate not amyloid is marker. actually it with which tends PET, early sensitive. As to

people to as reduced negative in about screening we doing actually done PET trial what the for that, who CSF. found XX%. pTauXXX negative is a to by of then And or our by scans CSF go So what number measure we've and on is PET use we

working screening actually that's So something blood [indiscernible] would practice, otherwise lot clinical PET quite and we it seems well the go that put to a out have as on be to of procedure, and negative a could [indiscernible] think pTauXXX a in play scan. that,

So I quite didn't your second question. think sorry, really good a I biomarker. And it's I'm catch

Ananda Ghosh

With long-term on data ] ability lecanemab based that target is discontinued protofibrils. the the benefit study [ showing patient their to the

So what's the with sabirnetug? read-through

Eric Siemers

Well, yes.

worse. if of that forms increases very not followed PET learning what you see increases things scans, apparently, there's interesting Those that amyloid are come the learning, a And you at various the because the and GFAP, reduced PET very sensitive it's gets that than back just in also you've look data. lot field is some once pTau. pathology the your is increase of in that's along there. But scans carefully, what [indiscernible] sooner based other we're I field, So we've think with slow a amyloid and is really on that

partly protofibrils these indication PET amyloid these you on targets soluble an may pathology the based treatment think because our targeting don't quickly, oligomers. scan. hypothesis be it that lecanemab and And up stop that's because that that's back with completely view, so we with a or in when our you that of consistent relatively comes good just pick And

Operator

queue. and in the Ladies for turn further would showing Alex to gentlemen, I closing remarks. back like I'm questions no now call to the

Alex Braun

everyone, have you interest today company. and questions, to for don't the if in to out reach and the us for hesitate Thanks, your joining day. follow-up have great any Great. a Please call

Operator

your for concludes Thank Ladies that and today's gentlemen, you call. conference participation.

may disconnect. You now

Acumen Pharmaceuticals (ABOS) 13 Aug 242024 Q2 Earnings call transcript