Acumen Pharmaceuticals Q1 net loss narrows

Acumen

Acumen

ABOS

0.00


Overview

  • US Alzheimer's therapeutics developer's Q1 net loss narrowed

  • Operating expenses declined yr/yr due to reduced manufacturing and CRO costs

  • Company raised $35.75 mln in private placement, boosting cash to $128.4 mln


Result Drivers

  • LOWER R&D SPEND - Decrease in research and development expenses due to reduced manufacturing, materials, and CRO costs after ALTITUDE-AD trial enrollment completion

  • LOWER G&A EXPENSES - General and administrative expenses fell due to reductions in legal, accounting, consulting, and insurance costs


Company press release: ID:nGNX19bTd9


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

Beat

-$20.74 mln

-$25.88 mln (3 Analysts)

Q1 Basic EPS

-$0.33

Q1 Operating Expenses

$21.15 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 $8.00, about 211.3% above its May 11 closing price of $2.57


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