CHARLOTTESVILLE, Va. and CARMEL, Ind., July 18, 2023 (GLOBE NEWSWIRE) — Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS), a clinical-stage biopharmaceutical company developing a novel therapeutic that targets soluble amyloid beta oligomers (AβOs) for the treatment of Alzheimer’s disease (AD), today announced the pricing of an upsized underwritten public offering of 16,774,193 shares of its common stock at a price to the public of $7.75 per share. All of the shares are being offered by Acumen. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Acumen, are expected to be approximately $130 million. The offering is expected to close on July 21, 2023, subject to the satisfaction of customary closing conditions. In addition, Acumen has granted the underwriters a 30-day option to purchase up to an additional 2,516,128 shares of its common stock at the public offering price, less underwriting discounts and commissions.
BofA Securities, Citigroup and Stifel are acting as bookrunners for the public offering. BTIG is acting as lead manager for the offering.
About Acumen Pharmaceuticals, Inc.
Acumen, headquartered in Charlottesville, VA, with clinical operations based in Carmel, IN, is a clinical-stage biopharmaceutical company developing a novel therapeutic that targets toxic soluble AβOs for the treatment of AD. Acumen’s scientific founders pioneered research on AβOs, which a growing body of evidence indicates are early and persistent triggers of AD pathology. Acumen is currently focused on advancing its investigational product candidate, ACU193, a humanized monoclonal antibody that selectively targets toxic soluble AβOs.
