The sale was performed as a part of an computerized “sell to cover” transaction to handle tax withholding obligations associated to the vesting of restricted inventory items. This was executed below a Rule 10b5-1 buying and selling plan that O’Connell adopted on June 24, 2024. Following this transaction, O’Connell continues to carry 667,488 shares of Acumen Prescription drugs. The inventory, which InvestingPro evaluation suggests is at present undervalued, has declined over 50% prior to now six months regardless of sustaining a Honest general monetary well being score. Subscribers can entry 10 extra ProTips and complete monetary evaluation for ABOS on InvestingPro. The inventory, which InvestingPro evaluation suggests is at present undervalued, has declined over 50% prior to now six months regardless of sustaining a Honest general monetary well being score. Subscribers can entry 10 extra ProTips and complete monetary evaluation for ABOS on InvestingPro.
The sale was performed as a part of an computerized “sell to cover” transaction to handle tax withholding obligations associated to the vesting of restricted inventory items. This was executed below a Rule 10b5-1 buying and selling plan that O’Connell adopted on June 24, 2024. Following this transaction, O’Connell continues to carry 667,488 shares of Acumen Prescription drugs.
In different current information, Acumen Prescription drugs disclosed its Q3 2024 financials and developmental milestones, indicating important progress in its Section II ALTITUDE-AD research for the lead drug candidate, sabirnetug. The corporate reported a strong money place of $259 million, with analysis and growth bills totaling $27.2 million, and a web lack of $29.8 million for the quarter. Acumen’s focus stays on advancing sabirnetug, which is designed to focus on early Alzheimer’s illness.
The corporate has seen faster-than-expected affected person enrollment in trials and is creating a subcutaneous formulation. Outcomes from this Section I research are anticipated in Q1 2025. Acumen Prescription drugs is strategically directing its efforts in direction of the event of sabirnetug, with the Section II trial anticipated to conclude within the first half of 2025.
The corporate additionally reported current appointments to bolster its regulatory staff. Regardless of incurring a web lack of $29.8 million through the quarter, the corporate maintains a powerful money reserve to fund ongoing analysis and growth. As these are current developments, stakeholders are keenly observing Acumen Prescription drugs as they navigate the following phases of medical growth.
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