Acumen Pharma soars after Alzheimer's drug well-tolerated in early stage study
17/07/2023 10:43
** Shares of Alzheimer's drug developer Acumen
Pharmaceuticals Inc's ABOS.O shares up 43.3% at ~$9
** Co on Sunday said its drug candidate, ACI193 was well
tolerated in a first in human early stage trial testing 62
patients with early Alzheimer's disease
** The experimental drug that targets a novel form of the
toxic protein beta amyloid in the brain passed an early safety
test and will advance to a larger trial, company says
** The drug's target is similar to that of Biogen Inc
BIIB.O and Eisai Co Ltd's 4523.T recently-approved Leqembi,
which hits another soluble, toxic form of the protein in the
brain
** Co adds people who got higher doses of the drug also
showed a reduction in amyloid plaque after 6 to 12 weeks
** While no drug-related serious adverse events occurred,
8.3% or 5 treated patients developed a brain swelling condition
known as ARIA-E associated with amyloid-targeting treatments
** As of last close, stock up 16.3% this year
(Reporting by Pratik Jain in Bengaluru)
((Pratik.Jain@thomsonreuters.com;))