Shares of Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS) skyrockets by 93.79% in pre-market trading on Monday, following the release of data from their Phase 1 clinical trial. The trial focused on ACU193, a potential antibody therapy designed to treat Alzheimer’s disease at an early stage.
The data stems from Acumen Pharmaceuticals’ Phase 1 INTERCEPT-AD trial, which tested ACU193, an antibody therapy designed to target AβO and treat early-stage Alzheimer’s disease. This trial marks the first time the drug has been tested in humans.
Acumen Pharmaceuticals reported that patients responded well to ACU193, demonstrating a favorable safety profile across different dosage levels. These dosages include 2 mg, 10 mg, 25 mg, and 60 mg.
Daniel O’Connell, Acumen Pharmaceuticals’ president, and CEO, expressed confidence in the trial’s outcomes, stating, “ACU193’s observed dose-related central target engagement, rapid reduction of amyloid plaque, and compelling safety profile validate our confidence in ACU193’s differentiated mechanism of action: selectively targeting amyloid beta oligomers.”
Acumen Pharmaceuticals plans to discuss these results with the Food and Drug Administration (FDA) in the fourth quarter of 2023. Following this meeting, the company will collaborate with the FDA to determine the next steps in ACU193’s development.
What Does This Means For ABOS Stock? The positive data from this clinical trial brings great news for shareholders and moves Acumen Pharmaceuticals closer to bringing the drug to market, which could have a significant impact on ABOS stock.
Furthermore, this news has already resulted in a substantial increase in trading activity, with approximately 2.2 million shares of ABOS stock changing hands. This volume surpasses the average daily trading volume of around 308,000 shares.
Mary Lee is a freelance writer and journalist based in Toronto, Canada. She holds an M.S. degree in business and economic journalism from Columbia University’s Graduate School of Journalism in New York and a certificate in digital marketing from the University of Toronto.
