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WACUMEN Acumen Pharmaceuticals Reports Financial Results for Third Quarter 2021 and Business Highlights November 15 , 2021 • Acumen's investigational product candidate , ACU193 , is the first humanized monoclonal antibody discovered and developed to selectively target toxic amyloid - beta oligomers ( AẞOs ) to enter clinical trials • Enrolled first patients in INTERCEPT - AD , a multi - center , randomized , double - blind , placebo - controlled , single- and multiple - ascending dose Phase 1 clinical trial of ACU193 in patients with early Alzheimer's disease • Closed initial public offering in July 2021 , with aggregate net proceeds of $ 168.6 million CHARLOTTESVILLE , Va . and CARMEL , Ind . , Nov. 15 , 2021 ( GLOBE NEWSWIRE ) -- Acumen Pharmaceuticals , Inc. ( NASDAQ : ABOS ) , a clinical stage biopharmaceutical company focused on the development of novel targeted therapeutics for Alzheimer's disease ( AD ) , today reported financial results for the quarter ended September 30 , 2021 and provided recent business highlights . " Starting with our successful IPO in early July , the third quarter of 2021 marked the beginning of the next phase of life for our company . In October 2021 , we announced the screening and initial dosing of our first patient in INTERCEPT - AD , " said Daniel O'Connell , President and Chief Executive Officer at Acumen . “ INTERCEPT - AD is investigating the safety , tolerability , pharmacokinetics and target engagement of our product candidate ACU193 in a Phase 1 clinical trial involving early Alzheimer's patients . ACU193 is differentiated as the first humanized monoclonal antibody discovered and developed to selectively target toxic amyloid - beta oligomers ( ABOs ) to enter a clinical trial . We have cleared our sentinel safety review and are continuing to recruit patients in INTERCEPT - AD . We believe we have the resources to execute against our current strategic plan with our existing cash and cash equivalents and marketable securities , which we believe will be sufficient to enable us to fund our operating expenses and capital expenditure requirements at least through 2024. " Recent Business Highlights and Anticipated Milestones ACU193 Clinical Development • INTERCEPT - AD is recruiting ; sentinel safety review complete and Cohort 1 is enrolling . Patient screening and enrollment is ongoing for INTERCEPT - AD . Although Acumen has experienced delays in clinical site activation and patient enrollment in INTERCEPT - AD , which Acumen believes is a result of the rise of the Delta variant of COVID - 19 early in the third quarter of 2021 , Acumen continues to anticipate topline data from this trial by the end of 2022 , subject to the rate of site activation and patient recruitment . Corporate • Closing of Initial Public Offering . In July 2021 , Acumen issued an aggregate of 11,499,998 shares of common stock , including shares pursuant to the underwriters ' exercise of their full over - allotment option , in an initial public offering , resulting in aggregate net proceeds of $ 168.6 million . Third Quarter 2021 Financial Results • Cash Balance . As of September 30 , 2021 , our cash and cash equivalents totaled $ 135.8 million and our marketable securities totaled $ 94.1 million , compared to cash and cash equivalents of $ 43.8 million and no marketable securities as of December 31 , 2020 . • Research and Development ( R & D ) Expenses . R & D expenses were $ 1.8 million and $ 6.6 million for the three- and nine - month periods ended September 30 , 2021 , respectively , compared to $ 3.0 million and $ 7.0 million for the three- and nine - month periods ended September 30 , 2020 , respectively . • General and Administrative ( G & A ) Expenses . G & A expenses were $ 2.1 million and $ 4.5 million for the three- and nine - month periods ended September 30 , 2021 , respectively , compared to $ 0.2 million and $ 0.7 million for the three- and nine - month periods ended September 30 , 2020 , respectively . • Loss from Operations . Losses from Operations were $ 3.9 million and $ 11.2 million for the three- and nine - month periods ended September 30 , 2021 , respectively , compared to $ 2.5 million and $ 6.6 million for the three- and nine - month periods ended September 30 , 2020 , respectively . • Net Loss . Net Losses were $ 3.9 million and $ 92.3 million for the three- and nine - month periods ended September 30 , 2021 , respectively , compared to $ 2.5 million and $ 6.6 million for the three- and nine - month periods ended September 30 , 2020 , respectively . Net losses in 2021 include a non - cash expense that represents the changes in fair value of Acumen's Series B tranche liability and Series A - 1 warrant liability . The tranche liability and warrant liability were initially recorded at