Acumen Pharmaceuticals' chief legal officer sells $20,505 in stock

Published 01/08/2025, 09:02 AM
ABOS
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Derek M. Meisner, Chief Legal Officer and Corporate Secretary of Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS), a $110 million market cap biotech company, recently executed a significant stock transaction. On January 3, Meisner sold 11,122 shares of common stock, generating a total of $20,505. The shares were sold at an average price of $1.8437, with individual transaction prices ranging from $1.7750 to $1.9300. According to InvestingPro analysis, the stock appears undervalued despite falling 57% over the past year.

Additionally, Meisner acquired 66,800 shares through a restricted stock unit (RSU) award on January 6, with no cash payment involved. Each RSU represents a right to receive one share of common stock, vesting in three equal annual installments starting one year after the grant date. On the same day, Meisner also received 100,300 employee stock options, which will vest over four years, subject to continuous service.

Following these transactions, Meisner holds 164,545 shares of Acumen Pharmaceuticals.

In other recent news, Acumen Pharmaceuticals reported significant progress in its third-quarter financials and developmental milestones. The company emphasized its advancement in the Phase II ALTITUDE-AD study of their lead drug candidate, sabirnetug, aimed at early Alzheimer's disease. Acumen also reported a robust financial standing, with $259 million in cash and securities, despite incurring a net loss of $29.8 million for the quarter.

The company's research and development expenses amounted to $27.2 million. Acumen's focus is on the development of sabirnetug, with Phase I study results for a subcutaneous formulation expected in Q1 2025. The Phase II trial is projected to conclude in the first half of 2025.

Enrollment in the ALTITUDE-AD study is progressing at a faster pace than anticipated, and sabirnetug has shown potential for lower ARIA rates, possibly increasing clinician comfort with the treatment. These are among the latest developments in Acumen Pharmaceuticals. The company continues to strengthen its regulatory team and is committed to developing treatments that could offer improved safety profiles and efficacy in Alzheimer's research.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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