Acumen Pharmaceuticals Chief Medical Officer Sells $5,118 Per Share By Investing.com

Eric Siemers, Chief Treatment (TASE:) Officer of Acumen Pharmaceuticals Inc. (NASDAQ: ), a clinical-grade biopharmaceutical company with a market capitalization of $104 million, recently completed a stock sale, according to a filing with the Securities and Exchange Commission. The company’s stock rose 8.7 percent last week despite a challenging six months. On January 21, Siemers sold 3,219 shares of Acumen Pharmaceuticals at a price of $1.59 a share, for a total transaction value of $5,118. This sale was made through an automatic “cover sale” transaction intended to satisfy tax withholding obligations associated with the issuance of restricted stock units. Following the sale, Siemers now owns 170,298 shares in the company. As he says Invest Pro Analyzing, ABOS currently holds more cash than debt and maintains a strong cash ratio at a current ratio of 10.4x. Get more insights and 10+ additional ProTips with an InvestingPro subscription, including a detailed analysis of a company’s financial health and growth prospects.

In other recent news, Acumen Pharmaceuticals reported significant progress in its third quarter financials and development progress. The company’s CEO, Dan O’Connell, highlighted the development of Sabirnetg, a lead drug candidate aimed at preventing early Alzheimer’s disease. Acumen currently has over 75 active positions and rapid enrollment in the Sabirnetug phase II ALTITUDE-AD study. The company also reported a strong financial position with $259 million in cash and securities.

Acumen’s research and development expenses were $27.2 million, resulting in a net loss of $29.8 million for the quarter. However, the company expects results from the Phase 1 study in Q1 2025.

Despite the net loss, Acumen maintains strong cash reserves to support ongoing research and development. The company has made recent appointments to strengthen its management team. The company’s future actions for the subcutaneous formulation will be determined after reviewing the Phase 1 data. This information is confirmed in recent analyst notes.

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