Acumen Pharmaceuticals (NASDAQ:ABOS) stock is on the rise Monday after the company released data from a Phase 1 clinical trial.
This data comes from the company’s Phase 1 INTERCEPT-AD trial of ACU193. ACu193 is an AβO targeting antibody therapy for the early treatment of Alzheimer’s disease. This study is the first instance of the drug being tested on humans.
According to Acumen Pharmaceuticals, patients were receptive to ACU193, giving it a safety profile. That covers the various dosages tested, which include 2 mg, 10 mg, 25 mg, and 60 mg dose levels.
Daniel O’Connell, president and CEO of Acumen Pharmaceuticals, said the following about the results:
“ACU193’s observed dose-related central target engagement, rapid reduction of amyloid plaque and compelling safety profile validate our confidence in ACU193’s differentiated mechanism of action: selectively targeting amyloid beta oligomers.”
Acumen Pharmaceuticals intends to meet with the Food and Drug Administration (FDA) in Q4 2023 to go over these results. From there, the company will work with the agency to determine the next steps of development for ACU193.
What This Means for ABOS Stock
Positive data from a clinical trial is always a win for shareholders. That holds true today with Acumen Pharmaceuticals’s recent results. It also brings the company one step closer to releasing the drug, which could be another boon to ABOS stock.
Today’s news also brings with it some 2.2 million shares of ABOS stock changing hands. That’s already well above its daily average trading volume of about 308,000 shares. ABOS is also up 45.7% on Monday morning.
Investors looking for more of the most recent stock market news will want to keep reading!
InvestorPlace is home to all of the hottest stock market news traders need to know about on Monday! That includes the biggest pre-market stock movers for Monday morning, why stocks were down on Friday and more. You can find out more on these matters at the links below!
More Monday Stock Market News
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Monday
- Why Are Dow Stocks Up Today?
- Why Is Nokia (NOK) Stock Down 9% Today?
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
