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
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
