Acumen Pharmaceuticals Shares Rise After FDA Designation
October 24 2022 - 8:55AM
Dow Jones News
By Dean Seal
Shares of Acumen Pharmaceuticals Inc. were up 10% to $8.41 in
premarket trading Monday after the company said regulators granted
fast-track designation to its Alzheimer's disease treatment.
The U.S. Food and Drug Administration gave the designation to
ACU193, a clinical-stage monoclonal antibody. Acumen is currently
studying the drug in a Phase 1 trial examining safety and proof of
mechanism.
The designation facilitates development and expedites the review
of drugs that treat serious or life-threatening conditions and fill
unmet medical needs.
Chief Executive Officer Daniel O'Connell said Acumen is
encouraged by the designation and looks forward to further
collaboration with the FDA.
The shares are up 13% so far this year.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 24, 2022 08:40 ET (12:40 GMT)
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