Acumen Pharmaceuticals Chief Medical Officer Sells $20,046 in Shares By Investing.com

Eric Siemers, Chief Treatment (TASE:) Acumen Pharmaceuticals, Inc. Officer (NASDAQ: ABOS ), a clinical-grade biopharmaceutical company with a market capitalization of $110 million, sold 10,859 shares of common stock in a transaction dated January 3rd, 2025. The shares were sold. At an average of $1.8461, a total of around $20,046. This sale was part of an automated “cover sell” transaction designed to satisfy tax withholding obligations associated with the issuance of restricted stock units under a Rule 10b5-1 business plan. As he says Invest Pro Information, the company maintains a strong liquidity position with a current ratio of 10.43.

In addition, on January 6, 2025, Siemers received 66,800 shares of common stock at no cost as part of a restricted stock unit (RSU) award. Each RSU represents the right to receive one share of Acumen common stock, with the units scheduled to vest in three equal annual installments beginning one year after the grant date, based on Simmers’ continued service with the Company.

On the same day, Siemers also received 100,300 stock options at a conversion price of $1.85. These options provide 48 equal monthly payments, fully vested on the fourth year of the grant date, again subject to continuous service.

In other recent news, Acumen Pharmaceuticals reported on its progress in Q3 2024, highlighting significant improvements in the Phase II ALTITUDE-AD study’s lead drug candidate, Sabirnutug. The study, which previously targeted Alzheimer’s disease, has seen rapid patient enrollment and is expected to be completed in the first half of 2025. The company reported a strong financial position, with $259 million in cash. However, it posted a net loss of $29.8 million in the quarter, including $27.2 million in research and development costs. Acumen is also preparing to release Phase 1 study results for its subcutaneous sabirnetug formulation in Q1 2025. The company’s focus remains on sabirnetug development, with recent appointments to strengthen its regulatory team. These are some of the recent developments at Acumen Pharmaceuticals.

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