Overview
Acumen Q2 net loss widens to $41.0 mln, driven by increased R&D expenses
Cash reserves of $166.2 mln expected to support operations into early 2027
Outlook
Cash reserves expected to support operations into early 2027
Result Drivers
SCREENING INNOVATIONS - Co implemented a two-step screening process in ALTITUDE-AD phase 2 clinical trial, reducing costs by 40% across U.S. and Canadian sites and improving enrollment rates
R&D EXPENSES - Increased R&D expenses driven by manufacturing and materials costs for ALTITUDE-AD trial
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Income |
| -$40.95 mln |
|
Q2 Basic EPS |
| -$0.68 |
|
Q2 Income From Operations |
| -$41.75 mln |
|
Q2 Operating Expenses |
| $41.75 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy."
Wall Street's median 12-month price target for Acumen Pharmaceuticals Inc is $10.00, about 85.8% above its August 11 closing price of $1.42
Press Release: ID:nGNX6js0Qq