Acumen Pharmaceuticals (ABOS) IPO Opens 57% Higher

Today's IPO for Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS) opened for trading at $25.07 after pricing 9,999,999 shares of common stock at a public offering price of $16.00 per share.

BofA Securities, Credit Suisse and Stifel are acting as joint lead book-running managers for the offering. UBS Investment Bank is also acting as a book-running manager.

Acumen is a clinical-stage biopharmaceutical company developing a novel disease-modifying approach to target amyloid-beta oligomers, (AβOs), which Acumen believes to be a key underlying cause of Alzheimer’s disease, or AD. Acumen is currently focused on advancing a targeted immunotherapy drug candidate, ACU193, to establish proof of mechanism in early AD patients. Acumen initiated its Phase 1 clinical trial of ACU193 in the second quarter of 2021 with the objective to evaluate its safety and tolerability and explore its pharmacokinetics and target engagement. This trial is currently enrolling patients with mild cognitive impairment and mild dementia due to AD. ACU193 Phase 1 data intended to evaluate safety and tolerability and demonstrate clinical proof of mechanism are expected by year end 2022.

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